SBI Releif for Customers

Mumbai Mar 13: In a Move to ensure Customers gets relief the State bank of India on Tuesday has slashed charges for non-maintenance of Average Monthly Balance (AMB) in savings accounts by nearly 75 percent.

The SBI has said that "The revised charges will be effective from April 01, 2018 and will benefit over 25 crore customers.The decision of slashing AMB was taken keeping in view the feedback from various stakeholders."

The new rates are as follows AMB for customers in Metro and Urban centers have been reduced from a maximum to Rs 15 per month.Earlier it was RS 50.

For Semi-Urban and Rural centers, the charges have been reduced to Rs 12 from Rs 40 and Rs 10 GST charges will be applicable over and above the rates specified above.

Many Customers have expressed their happiness and said that this would ensure that burden would be reduced.