New Penalty Scheme For Below Minimum Balance In SBI

March 31, 2018

SBI has announced new penalty scheme for those saving account which balance is below to minimum balance. This new change will be effacted from 1st Aril 2018.
Earlier the penalty were high, but in new scheme penalty has been recrudesced. The penalty will be vary on city to city. There are three type of city has been graded for penalty.
(1) City Level Branch – Here you have to maintain Rs. 3000 as minimum balance.
(2) Small City Branch – Here, you have to maintain Rs. 2000 as minimum balance.
(3) Village Level Branch – Here, you have to maintain Rs. 1000 as minimum balance.

Here is complete detail of penalty on below minimum balance.

In City Branch (Monthly Average Balance Rs. 3000) Penalty / Month
Above Rs. 3000 No Penalty
Rs. 2999 – 1500 Rs. 10
Rs. 1499 – 750 Rs. 12
Below Rs. 750 Rs. 15
Small City Branch (Monthly Average Balance Rs. 2000)
Above Rs. 2000 No Penalty
Rs. 1999 – 1000 Rs. 7.50
Rs. 1499 – 500 Rs. 10
Below Rs. 500 Rs. 12
Village Level Branch (Monthly Average Balance Rs. 1000)
Above Rs. 1000 No Penalty
Rs. 999 – 500 Rs. 5
Rs. 499 – 250 Rs. 7.50
Below Rs. 250 Rs. 10

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