SBI lowers minimum balance limit in savings account to ₹3000
SBI has reduced the minimum Monthly Average Balance (MAB) on savings accounts for metros from ₹5,000 to ₹3,000, effective from October 1. Minimum balance requirement for urban, semi-urban, and rural centres stands unchanged at ₹3,000, ₹2,000 and ₹1,000, respectively. The bank also reduced charges for non-maintenance of MAB by 20-50% and removed charges for pensioners and minors' accounts.