As a major step forward towards Customer retention and acquisition, State Bank of India has decided to remove the stipulation of maintaining a minimum Average Quarterely Balance (AQB) for all Personal Segment Savings Bank Account holders across all thier branches. Thus there will be no Service Charge for Non Maintenance of minimum balance stipulations (AQB) in SB account of Personal Segment customers. Branches were advised to use approved publicity material to the effect and to have them displayed prominently on branch premises. In a preceding circular sent only the day before, the bank ordered refund of charges for non-maintenance of minimum balance ‘of personal segment' customers. This was aimed at setting right an earlier order that sought to apply charges for non-maintenance of minimum balances on all eligible accounts for the quarter ended March 31, 2012.
Further, while opening a Savings Bank Account minimum amount to be deposited has also been reduced to Rs 100/- , except in case of ‘No Frills Account’, where the minimum deposit is Rs.50/-.
Average Minimum Balance required
Sr No Bank Metro Urban area Rural areas
1 ICICI BANK 10000 5000 2000
2 HDFC BANK 10000 5000 5000
3 AXIS BANK 10000 5000 2500
Dear friends open new SB AC to all your customers and attach NEFT
Further, while opening a Savings Bank Account minimum amount to be deposited has also been reduced to Rs 100/- , except in case of ‘No Frills Account’, where the minimum deposit is Rs.50/-.
Average Minimum Balance required
Sr No Bank Metro Urban area Rural areas
1 ICICI BANK 10000 5000 2000
2 HDFC BANK 10000 5000 5000
3 AXIS BANK 10000 5000 2500
Dear friends open new SB AC to all your customers and attach NEFT
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