SBI new rules: From October 1 onwards, these rules of SBI account are going to change. With the change in rules, the account holders of SBI have received some relief in the case of keeping minimum balance in the account, while from today; electronic toll collection will be started on all the national highways of the country. Apart from this, call rates from today can also get cheaper and the old MRP of goods to be changed from today.SBI new rules:
Minimum balance Limit–
Monthly average balance in metro centers has been reduced to Rs 3,000 from Rs 5,000 earlier. For semi-urban branches, the MAB is Rs 2,000 and for rural branches Rs 1,000. So in case you are in metro centers, now you need to maintain the average MAB at Rs 3,000 from Sunday, 1 October.Penalties for non-adherence–
For non-maintenance of monthly average balance, the charges have also been revised downwards ranging from 20-50 percent across all population groups and categories. Now, the charges at semi-urban and rural centers range from Rs 20 to Rs 40 and at urban and metro centers from Rs 30 to Rs 50, the bank has said.
SBI has made this decision after repeated protests and government appeals. It will affect SBI’s 5 million account holders. SBI has also decided to exclude the pension account holders, accounts of the beneficiaries and minors of the social schemes of the government from the need for minimum average balance.No charge to close accounts–
No fee will be charged to close the SBI account. If an account is closed within 14 days after opening the account and before one year, then it will have to pay 500 rupees and GST.
In a Twitter post, SBI said that closure of regular savings account on conversion to basic savings bank account, which earlier used to attract a charge of Rs. 500 plus GST of 18 per cent, will be nil from October 1, 2017.
— State Bank of India (@TheOfficialSBI) 25 September 2017
Old cheques will be invalid–
Your cheque books will become invalid from 1 October unless you have got a new one. The IFSC code of your branch will also be different from that day. This is because State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Raipur etc, these banks has been merged with SBI now.
We request customers of SBI’s erstwhile Associate banks and Bharatiya Mahila Bank to apply for new SBI Cheque books as soon as possible. pic.twitter.com/iWhq4xtbrn
— State Bank of India (@TheOfficialSBI) 20 September 2017
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