SBI TO WAIVE CHARGES FOR NON-MAINTENANCE OF AVERAGE MONTHLY BALANCE

Highlights

• Currently, SBI savings bank customers need to maintain an average monthly balance
• Bank used to levy a penalty on non-maintenance of average monthly balance

State Bank of India announced that it will waive charges for non-maintenance of average monthly balance (AMB). It will apply to all 44.51 crore savings bank accounts. Currently, an average monthly balance needs to be....