State Bank of India announces no penalty on zero balance in account

State Bank has announced that it will not impose any penalty on zero balance in its customers' bank accounts. Also, no fee of any kind will be charged on the service provided from time to time by SMS from the bank.

Yogita S.

Yogita S.By Yogita S.

Published on 6 Nov 2020 12:11 PM GMT

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New Delhi: State Bank of India, which is the largest bank in the country, takes great care of its customers. Keeping in view the changing times and environment, it is the main objective of SBI to keep facilitating customers by making new announcements for their customers from time to time.

In such a situation, the Bank (SBI) has removed the minimum balance limit on customers' bank accounts for a long time. There is a wave of happy customers from State Bank's decision.

No charge on service:

State Bank has announced that it will not impose any penalty on zero balance in its customers' bank accounts. Also, no fee of any kind will be charged on the service provided from time to time by SMS from the bank.

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No SMS Charges now:

This clearly and simply means that now the service provided through SMS by the bank will be absolutely free for the customers. At the same time, the bank (SBI) has reduced the rate of interest on the savings bank account of the customers, due to which there is sadness among the customers.

Out of the three decisions taken by the State Bank (SBI), customers are happy with the bank on two decisions, but there is also some shadow of sadness when the interest rate is reduced.

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Talking about the bank's first decision, the bank has done away with the minimum balance requirement. Which means that now there will be no charge of any kind due to zero balance in the account.

Along with this, before the announcement of the bank, the customers of the metro city had to keep a minimum amount of Rs 3000, for the people living in the towns, Rs 2000 and those living in the rural areas, a minimum amount of Rs 1000. At the same time, a fine of up to Rs 15 was required to be less than the minimum amount in the account.

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Yogita S.

Yogita S.

Media Graduate, News Editor and PR Enthusiast.

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