Earlier, failure to maintain Monthly Average Balance (MAB) in accounts attracted penalty that varied in metropolitan and rural areas. Savings Bank customers’ were required to maintain a monthly average balance of Rs 3000, Rs 2000 and Rs 1000 in Metro and Urban, Semi-Urban and Rural areas respectively. Also read State Bank joins Centre’s loan push with debit card EMIs"Good news for SBI Savings Account holders! Now you don't have to pay charges for SMS service and non-maintenance of monthly average balance," the SBI tweeted on Tuesday. Now you don't have to pay charges for SMS service and non-maintenance of monthly average balance.

Source: dna August 19, 2020 18:33 UTC