SBI ZERO BALANCE ACCOUNT DETAILS (BSBA)
SBI customers with regular saving account need to maintain a monthly average balance. As per State Bank Of India in Metro and Urban Areas need to maintain a monthly average balance of Rs 3000/-, In semi urban areas MAB is 2000/- while in Rural areas monthly average balance need to maintain is Rs 1000/-.
State Bank Of India also offer the facility of opening a zero balance account. In this type of account, monthly average balance rule not applicable. This is also called Basic Savings Bank Deposit (BSBD) account.
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This account can be opened by any individual provided he/she has valid KYC documents. Primarily meant for poorer sections of society to encourage them to start saving without any burden of charges or fees.
| Eligibility |
|---|
| As applicable to regular Savings Bank Account |
| KYC requirement |
| The account will be KYC compliant. |
| Mode of Operation |
| Singly, jointly, or with Either or Survivor, Former or Survivor, anyone or Survivor etc. facility. |
| Available at |
| All branches |
| Minimum balance amount |
| NIL |
| Maximum balance /amount |
| No upper limit |
| Rate of Interest |
| As applicable to Savings Bank Accounts |
| Operations in the Account |
| Using withdrawal forms at Branches or through ATMs.Basic RuPayATM-cum-debit card will be issued |
– Maximum of 4 withdrawals in a month is allowed in a Basic Saving Bank Account which includes ATM transactions at SBI bank.
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