SBI says no minimum balance penalty, SMS charges on all savings accounts. India's largest bank State Bank of India or SBI said that it is not charging savings bank account customers for non-maintenance of minimum balance and it has also waived SMS charges. "Good news for SBI Savings Account holders!

What is the minimum balance in SBI 2021?

There is no minimum balance requirement. This service is available at all SBI branches. There is no chequebook facility. There is no limit for minimum or maximum balance or amount.

What is the minimum balance for SBI account?

The customer will now have to make an initial deposit of Rs. 1,000. As soon as the bank completes the verification process, the account holder will be granted a free passbook and cheque book. Simultaneously, customers can submit the internet banking form.