SBI has today announced big news for its millions of customers. Now the requirement for customers to have a minimum balance on the savings account has been removed. The bank has clarified by issuing a statement in this regard that it will no longer be necessary for customers to maintain an average monthly balance (AMB). The bank cited the reason behind this decision to provide easy and hassle-free banking facilities to its customers. This big decision of SBI will directly benefit 44 crore 51 lakh customers across the country. It is known that at present, customers are required to keep a minimum balance of Rs 3,000, 2,000 and 1,000 respectively in the metro, semi-urban and rural areas. SBI also used to charge its penalty from customers who could not maintain monthly balance.
SMS charge also waived
The bank has also waived the fees levied on SMS keeping in mind the convenience of the customers. This decision of the bank will provide relief to millions of customers. Today, on Wednesday, March 11, the day SBI announced a cut in MCLR based interest rates. Along with this, interest rate reduction was also announced on Fixed Deposit.
SBI Chairman said this important thing
While making this major announcement, SBI chairman Rajnish Kumar has said that this important announcement will increase the happiness of our customers. For us, our customer is on priority. Removing the requirement of average monthly balance is an important step towards providing better banking facilities to customers.