NEWS & ADVICE : HOME LOANS
Service charge on non-maintenance of minimum balance waived by SBI
By Joseph Samson
Feb 27, 2012
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The largest lender in the country, State Bank of India has issued a circular to announce the waiver of service charges for non-maintenance of minimum account on the savings accounts.

"You will appreciate that this benefit/waiver is a strong selling point for our savings bank product," said the circular.

It also said, "Branches will however ensure that while opening a savings bank account, a minimum of Rs 100 is to be deposited, except in the case of ‘No Frills Account', where the minimum deposit is Rs 50."


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