• Welcome to Tamil Brahmins forums.

    You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our Free Brahmin Community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

    If you have any problems with the registration process or your account login, please contact contact us.

Maintaining miinimum balance in SBI

vijiseeni

Member
New minimum balance rules announced by SBI, i think is rediculous. In one way, the govt is encouraging all people, even below poverty lines to open SB accounts. Most of the accounts, where this rule is applied, belongs to middle class, lower middleclass people mostly belongs to artizans and low wage earners. Is it not an addtional blow to them? Previously only PRIVATE banks such as HDFC, ICICI used to adopt this minimum balance rule.Their case is different since they are for profit only. Why these govt owned banks should adopt this rule? They may say it is for the accounts maintaince activity and all. But these SBI never bothered to recover NPAs. If they could recover NPAs, then banks should be with surplus in cash.But they are unable to do this but simply punishing poor middle , lower middle and low wage earners only. Who is to bell the cat in this ?Citizens should rise their voice agains this.
 
S

swathi25

Guest
I would like to share the following news item which is more pertinent:


State Bank of India (SBI)
offers a few types of bank accounts that are free from the requirement to maintain any balance every month. One such bank account offered by SBI, India's largest bank, is basic savings bank deposit account or BSBD account. While the basic savings bank deposit account offers the same rate of interest as a savings bank account, it does not require the account holder to maintain any specific monthly average balance or minimum balance every month, according to SBI's website - sbi.co.in. SBI customers holding regular savings bank accounts with the bank are required to maintain a certain minimum balance every month. SBI, which has specified different monthly average balances (MAB) for accounts held in different types of branches, charges a penalty for non-compliance depending on the degree of shortfall.


Read more at: https://www.ndtv.com/business/sbi-d...inimum-balance-in-this-account-budget-1810568
 
OP
OP
V

vijiseeni

Member
Which bank assitant explains the different types of SB accounts to customers? They simply open a savings bank account and how many of us are bothered to check the details whether it is basic saving bank account or normal savings bank account?Can you show any branch where this phenomeno explained through any pamphlet or posters?
 
S

swathi25

Guest
The Banks website says that any individual can open this account and it is meant for poorer section.

It is customer’s money and hence he needs to be more alert, attentive and take extra care. It is defined as 'Caveat emptor' let the buyer beware.... let the user beware...let he beware...etc

All banks have a Reception or May I help you’ counter, to guide customers.

Here is more information on

Read more at: https://www.sbi.co.in/portal/web/personal-banking/basic-savings-bank-account
 
Last edited by a moderator:
S

swathi25

Guest
The country’s largest lender, State Bank of India SBI) has revised charges for non-maintenance of Average Monthly Balance (AMB) in savings accounts effective from April 01, 2018 from a maximum of Rs 50 per month to Rs 15 per month.


An account without MAB


If you are finding it difficult to maintain the MAB, you can consider opening a basic savings bank deposit account (BSBDA).

All banks are mandated by the Reserve Bank of India (RBI) to offer such a facility to those looking to open a bank account. You can use the BSBDA account as a secondary account to manage your regular savings bank account more efficiently. You don't have to maintain a minimum average monthly balance and no minimum amount i ..


Read more at:
//economictimes.indiatimes.com/articleshow/62380223.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
 
Top
Thank you for visiting TamilBrahmins.com

You seem to have an Ad Blocker on.

We depend on advertising to keep our content free for you. Please consider whitelisting us in your ad blocker so that we can continue to provide the content you have come here to enjoy.

Alternatively, consider upgrading your account to enjoy an ad-free experience along with numerous other benefits. To upgrade your account, please visit the account upgrades page

You can also donate financially if you can. Please Click Here on how you can do that.

I've Disabled AdBlock    No Thanks