SBI has come out with a clarification regarding charges collected from account holders on digital transactions in BSBD accounts beyond 4 free transactions.
SBI has clarified regarding charges collected from account holders on digital transactions in BSBD accounts beyond four free transactions.
Known as zero balance savings account of State Bank of India (SBI), the Basic Savings Bank Deposit (BSBD) account is designed as a savings account that offers certain minimum facilities, free of charge, to the account holders.
These accounts primarily target at enhancing financial inclusion among the economically weaker sections. SBI has clarified regarding charges collected from account holders on digital transactions in BSBD accounts beyond four free transactions.
SBI zero balance savings account: At the time of opening the account, there is no need for a minimum balance. Without any fees, customers are provided with an ATM-cum-debit card. Deposit and withdrawal services are free of cost. For non-operation or activation of an inoperative account, the bank cannot levy charges.
SBI zero balance savings account interest rate: Same interest on zero balance accounts as on regular savings bank accounts is offered by SBI. On deposits up to and more than Rs 1 lakh, the bank offers an interest rate of 2.70 percent per annum.
SBI zero balance savings account cash and ATM withdrawals: Maximum of 4 cash withdrawals free of cost in a month is allowed, including ATM withdrawals at own and other bank’s ATMs by SBI zero balance savings account.
SBI zero balance savings account: At the time of opening the account, there is no need for a minimum balance. Without any fees, customers are provided with an ATM-cum-debit card. Deposit and withdrawal services are free of cost. For non-operation or activation of an inoperative account, the bank cannot levy charges.
SBI zero balance savings account interest rate: Same interest on zero balance accounts as on regular savings bank accounts is offered by SBI. On deposits up to and more than Rs 1 lakh, the bank offers an interest rate of 2.70 percent per annum.
SBI zero balance savings account cash and ATM withdrawals: Maximum of four cash withdrawals free of cost in a month is allowed, including ATM withdrawals at own and other bank’s ATMs by SBI zero balance savings account.
