Minimum Balance in SBI Account

The State Bank of India provides two types of saving accounts for its customers, one is the savings account and the other is the savings plus account. Both the accounts come with several facilities and advantages which will help its customers to save money at the bank at very easy terms and conditions. The minimum balance in SBI account depends on what the customer is using; if the customer is using the savings account then certain amount will be applicable and if the customer is using the saving plus account some different amounts will be applicable.

The minimum balances in SBI account in case of a savings account, which is a regular account, are:

• In case of metro/semi-urban/urban areas the minimum balance is  Minimum amount of Rs 1000 for cheque operated account.  Minimum amount of Rs 500 for ordinary account.  The rate of interest on the minimum balance amount applicable is 3.5%.  Both ATM and debit cards can be used. • For the accounts of rural areas the minimum balance is  Minimum amount of Rs 500 for cheque operated account.  Minimum amount of Rs 250 for ordinary account.  The rate of interest on the minimum balance amount applicable is 3.5%

The minimum balances in SBI account in case of savings plus account, which is a privileged account, are:

• In case of metro/semi-urban/urban areas the minimum balance is  Minimum amount of Rs 1000 for cheque operated account.  Minimum amount of Rs 500 for ordinary account.  The rate of interest applicable is 3.5%.  Both ATM and debit cards can be used. • The accounts of rural areas the minimum balance is  Minimum Rs 500 for cheque operated account.  Minimum amount of Rs 250 for ordinary account.  The rate of interest applicable is 3.5%.

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