The witness, Mumbai: Public sector major State Bank of India ( SBI ) has provided its clients sweet summoned. The company announced Wednesday that it will lift the minimum balance rule. According to the latest announcement, SBI customers do not have to maintain a minimum balance (monthly) in their savings accounts. This gave clients a huge boost. Also, the interest rate on savings accounts is fixed at 3% per annum. Average monthly balance charges have been canceled out of a total of 44.51 crore SBI accounts as part of the Financial Inclusion Initiative in the country.
Also waived SMS charges. Meanwhile, SBI Savings Bank’s customers were able to spend Rs. 3 finger, Rs. Monthly minimum storage of 2 thousand and thousand rupees. Otherwise, they have been fined Rs 5 to Rs 15 plus taxes. On the other hand, SBI on Wednesday cut interest rates on bank deposits on MCLR rates and deposits.