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SBI Basic Savings Bank Account
Features of a SBI Basic Savings Account
|Bank||State Bank of India|
|Category||SBI Basic Savings Account|
|Minimum Balance Amount||NIL|
|Debit Card Offered||Basic ATM-Debit Card|
|Eligibility Criteria||Individuals who are 18 years old and above.|
- A SBI Basic Savings Account can be opened free of cost at any SBI branch.
- This account is KYC compliant and can be operated as a single account or jointly.
- There is no upper limit set for the balance amount held in the account.
- The SBI Basic Account can be easily accessed and a cheque book will also be issued along with it.
- Accounts can be transferred between SBI branches free of cost.
- Customers cannot open any other SB account, if they hold a SBI Basic Savings Account. All other accounts have to be closed within 30 days of opening a SBI Basic Savings Account.
- Four free ATM withdrawals are allowed every month from SBI or other bank ATMS. Any withdrawal after that would be charged.
- Utility bill payments can be done using this account.
Fees and Charges of SBI Basic Savings Account
|Internet Banking||NEFT/RTGS transactions can be done free of cost.|
|Debit Card||A debit card is given free of cost with no annual maintenance charge|
|Mobile Banking||Not Available|
|Other Services||Any extra service availed will be charged as per the bank’s regulations.|
|Deposit or Collection of Cheques drawn by Central or State Government||Nil|
|Deposit of Cash||Nil|
|Activation of Inoperative Accounts||Nil|
|Issuance of variants of ATM cards||Charges as stipulated by the bank.|
Information to be provided
- Filled-in Account Opening Form (AOF)
- Colored passport-size photographs – 2
- KYC documents as stated in the AOF
- KYC Information
- Type of Savings Account required
- Form 60 / PAN Number
- Form DA-1 for making a nomination (Optional)
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