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SBI saving accounts with NIL minimum balance charges

State Bank of India (SBI) is providing the facility of savings account with various features and benefits which are designed to fulfil the varied requirements of all the income groups. Interestingly, State Bank of India has three types of savings account
in which there is no requirement to maintain the minimum average balance, neither on a monthly basis nor on a quarterly basis. However, SBI levies a penalty of up to Rs 3,000 on non-maintenance of minimum average balance in State Bank of India regular savings account.

According to State Bank of India website,, there is no mandate on maintaining minimum average balance on SBI basic savings bank account, SBI small account and SBI savings account for minors. SBI basic savings bank account or SBI zero balance savings account opening facility is available at all State Bank of India branches and all the individuals are eligible for opening a zero-balance account with State Bank of India following the fulfilment of KYC documents. 

The facility of zero-balance savings account is primarily meant for poorer sections of the society to encourage them for saving without any burden of charges or fees. SBI small account opening facility is available at all branches except specialised branches such as personal banking branches (PBBs)/ special personalize banking (SPB)/ mid-corporate group (MCG)/ corporate account group (CAG) branches. SBI has restricted the maximum balance limit at Rs 50,000 for small accounts.

The maximum balance limit for SBI savings account for minors is restricted at Rs 10 lac. State Bank of India, as an interactive gesture for children, provides an ATM-cum-debit card embossed with the photograph of the child. The maximum withdrawal/Point of Sale (POS) limit on SBI debit card is restricted at Rs 5,000. 


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