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minimum average balance

Philip Mathew (113 Points)

19 October 2017

what is the minimum average balance to be maintained in zero balance saving bank account of S.B.I.

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8 Replies

Ashwin Kumar (1234 Points)
Replied 19 October 2017

5000 i think

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 19 October 2017

Rs. 3000....

Also it's different from one area to another Area like Rural, Urban and Semi Urban". Ask to your branch...

@ Ashwin Kumar.,

the 5000 reduced to 3000 after the problem on Demonitization

Ashwin Kumar (1234 Points)
Replied 19 October 2017

thnks buddy @ RAJA P M

Philip Mathew (113 Points)
Replied 19 October 2017

can anyone explain ZERO BALANCE ACCOUNT. if the minimum is rs. 5000.00 its for urban area and the other for rural one. Only F.M AND P.M can give clarification.

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 19 October 2017

Originally posted by : Philip Mathew
	can anyone explain ZERO BALANCE ACCOUNT. if the minimum is rs. 5000.00 its for urban area and the other for rural one. Only F.M AND P.M can give clarification.

I think both are not members in CCI portal...

You ll try to twitter... Both are in Twitter. But, Not sure in my knowledge...

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177896 Points)
Replied 19 October 2017

Some private banks operate 'Zero Balance Account' as a product to attract more business........ in which the account holder is not required to maintain any balance......... e.g Salary accounts.....

SBI till last FY were operating 'normal saving account' as 'zero balance account' but have changed this product to minimum balance account, in this april, with minimum AQB to be maintained as said above.

So, if your account has not changed to 'normal account' or any other product.... and is still/truly 'zero balance account'; ...... you are not liable to maintain any minimum balance.

Better check the present conditions applicable to the account with your bank itself. Refer latest terms and conditions with applicable fees and charges associated with the product and don't go with its 'label'.