Tue, Jul 30, 2024
Minimum Balance Rules at PSU Banks: Do you know how much money you pay in charges and fees for failure to maintain the required balance in your savings account at a public sector (PSU) bank? The government recently shared some interesting details about the recent trends in the penalties, covering a wire range of aspects. Here is a summary of the response submitted in the Lok Sabha - the lower house of Parliament - in response to questions raised by some members about the penalties that PSU banks impose on customers failing to maintain the Average Monthly Balance (AMB) in their savings accounts.
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Tue, Mar 13, 2018
SBI minimum balance charges: The charges for non-maintenance of AMB for customers in metro and urban centers have been reduced from a maximum of Rs 50 to Rs 15 per month, excluding Goods and Services Tax (GST).
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