SBI's limit of minimum balance can be reduced soon, can get relief

Now news is coming that SBI can reduce the limit of minimum balance in the savings bank account. At present, it is Rs 3000 in Metro Bandh, Rs 2000 in Urban Area and Rs 1000 in villages.

New Delhi: SBI customers can get some relief news in the coming time. Recently, despite having a minimum balance of its customers, there was a report against several banks, including SBI, due to charging huge penalties. Now news is coming that SBI can reduce the limit of minimum balance in the savings bank account. At present, it is Rs 3000 in Metro Bandh, Rs 2000 in Urban Area and Rs 1000 in villages. 

It is possible to get relief from the customers as soon as possible
that the State Bank of India has already given gifts to its customers by announcing reduction in interest rates on the new year. According to media reports, the bank can reduce the limit of this amount up to Rs.1000 and can also eliminate the condition of maintaining fixed balance in the account every month. 

Penalty earned from Rs 1771 crore
State Bank of India (SBI), who is facing severely criticized for making huge profits as a penalty against customers not keeping average minimum balance in savings accounts every month, said that considering the minimum balance and the penalty amount, Used to be. According to the terms of the bank, the charge that customers charge for not keeping minimum balance is quite high. As a result, SBI had earned Rs 1771 crore between April and November 2017. 

5 years later the bank had changed rules
The country's largest bank SBI had revised the monthly average minimum amount (MAB) fees in April 2017. It did this after five years. In the accounts of metro cities, he had deposited Rs 5000 for MAB and 1000 rupees in rural areas. Fines were imposed on less than this amount. According to the Finance Ministry data, this bank, having 40.2 crore savings account holders, earned a profit of Rs 1771.67 crore in this item as a fine against the MAB between April 2017 and November 2017. This is more than its second quarter profit. 

MAB will be reviewed again
Bank of Managing Director, PK, for Retail and Digital Banking. Gupta said, "We have been continuously reviewing it since implementing the MAB in April and in October we did it a little less. Now we are reviewing it again. "He said that on the basis of the responses received, we are doing a comprehensive review of MAB and the fine on him. Amendments will be announced soon. 

Learn how much tax is
currently taxed for MBA 3000 for savings accounts in metro and urban areas at the current time, with no penalty for 30 to 50 rupees and tax separately. Similarly, in the semi-urban areas, MAB 2000 rupees and Rs.1000 in rural areas. Failure to keep it off is 20 to 40 rupees and tax is different.