New Delhi, March 13: Public lender the State Bank of India on Tuesday reduced the charges for non-maintenance of average minimum balance up to 75%.
Charges for non-maintenance of average minimum balance in Metro and Urban centres reduced from max of Rs 50 per month plus GST to Rs 15 per month plus GST. For Semi-Urban & Rural centres charges reduced from Rs. 40 per month plus GST to Rs 12 & Rs 10 per month plus GST respectively.
The revised charges will be effective from April 01, 2018.
SBI’s managing director PK Gupta in a press release said: “The bank has always focused on keeping the interests of its customers first and this is one of our many efforts towards fulfilling customers’ expectations”.
“We have reduced these charges taking into account the feedback and sentiments of our customers. SBI also offers its customers options to shift from regular savings bank account to basic savings account on which no charges are levied”, he added.