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  • SBI Basic Savings Bank Account


    BankState Bank of India
    CategorySBI Basic Savings Account
    Minimum Balance AmountNIL
    Interest Rate4%
    Debit Card OfferedBasic ATM-Debit Card
    Eligibility CriteriaIndividuals who are 18 years old and above.
    Features of a SBI Basic Savings Account
    • 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.
    Internet BankingNEFT/RTGS transactions can be done free of cost.
    Debit CardA debit card is given free of cost with no annual maintenance charge
    Mobile BankingNot Available
    Other ServicesAny extra service availed will be charged as per the bank’s regulations.
    Fees and Charges of SBI Basic Savings Account
    Deposit or Collection of Cheques drawn by Central or State GovernmentNil
    Deposit of CashNil
    Activation of Inoperative AccountsNil
    Issuance of variants of ATM cardsCharges as stipulated by the bank.
    Documents Required
    • Filled-in Account Opening Form (AOF)
    • Colored passport-size photographs – 2
    • KYC documents as stated in the AOF
    Information to be provided
    • KYC Information
    • Type of Savings Account required
    • Form 60 / PAN Number
    • Form DA-1 for making a nomination (Optional)
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