<p>The country’s largest lender, the State Bank of India (SBI), has done away with minimum balance criteria for saving banks account.</p>.<p><br />The bank will not levy any charge for breaching minimum balance criteria. The facility is available to existing customers also, SBI said.</p>.<p><br />For normal SBI savings account with cheque book facility, a customer had to maintain a minimum balance of Rs 1,000 in his or her account failing which it attracted penalty.<br />There are certain saving account products of the bank where the minimum monthly balance is as low as Rs 50. Depending on features and facility, the minimum average monthly balance varies.<br /></p>
<p>The country’s largest lender, the State Bank of India (SBI), has done away with minimum balance criteria for saving banks account.</p>.<p><br />The bank will not levy any charge for breaching minimum balance criteria. The facility is available to existing customers also, SBI said.</p>.<p><br />For normal SBI savings account with cheque book facility, a customer had to maintain a minimum balance of Rs 1,000 in his or her account failing which it attracted penalty.<br />There are certain saving account products of the bank where the minimum monthly balance is as low as Rs 50. Depending on features and facility, the minimum average monthly balance varies.<br /></p>