New Delhi. State Bank of India (SBI), the country's largest bank, has abolished the rule of charge for not keeping minimum balance in the bank account of its customers.
SBI customers will not have to pay the charge from now on not keeping minimum balance in savings bank accounts. With this, the account holders who keep the money in the bank can now keep any balance in the bank account without any worry and the customers will not have to pay the charge after its depletion.
The bank has given information about this and thereafter for a long time. The demand made by the customers has been accepted. Customers were demanding to withdraw the minimum bank recovery charge for a long time. SBI customers had to pay a charge of up to Rs 3000 for non-maintenance of minimum balance in the account according to different regions.
Charging up to Rs 3000 for saving bank account holders residing in metro cities While semi-urban saving bank account holders have to pay up to Rs 2000 for non-maintenance of minimum balance.
Customers in rural areas Programming have to pay a penalty of Rs 1,000 on the maintenance of minimum balance in the account. Now ending this charge of the bank will give big relief to the customers of SBI.
It has been said on behalf of the bank that this step taken by SBI will bring great relief to the customers and will also increase the trust and comfort of the customers.
Apart from this, the country's largest lender State Bank of India has cut its fixed deposit interest rates for the second time in the same month. According to SBI, the new rates will be considered applicable from February 10.
These new rates are different according to the FD of different times. On FDs ranging from 7 to 45 days, a 0.5 percent reduction has been made earlier. Earlier the interest rate on FD of this period was 4.5 percent which has now come down to 4 percent.