Highlights
| Bank | SBI |
| Category | Regular Savings Account |
| Minimum Balance | Nil |
| Interest Rate | 4.00% per annum |
| Card Offered | ATM cum debit cards (free) |
Features and Benefits of SBI Small Savings Account
- It comes with a debit card that is widely accessible.
- It comes with a low minimum average quarterly balance requirement.
- It offers the benefit of moderate earning to the account holder.
- It allows the account holder to maintain a maximum balance of Rs 50,000.
- It comes with the flexibility of account transfer across branches at no additional charges.
- It offers a high interest rate of 4% p.a.
- It offers the flexibility of opening a single account or a joint account with someone.
| Age limit | 18 years |
| Eligibility | Same as regular SBI savings account |
| Overdraft facility | Not Available |
| Minimum balance | Nil |
| Maximum balance | Rs 50,000 |
| Reward points | No |
| Internet Banking | Available for free |
| Mobile banking | Not available |
| Cheque Books | Yes, available for free |
| ATM cum Debit Card | Yes, available for free |
Fees and Charges of SBI Small Savings Account
| ATM transactions | Free up to 4 transactions at SBI and other bank ATMs |
| Duplicate Pass book | Rs.100 with latest balance |
| Duplicate Statement | Rs.100 with latest balance |
| Outstation cheque collection | Rs.150 and other bank charges if applicable |
| Check books | Free, up to 25 leaves in a year |
| Return of Cheque | Rs 75 for local unpaid cheques and other bank charges if applicable |
| Activation of inoperative accounts | No charges |
| Collection/deposit of Central/ State government checks | Free |
| Online funds transfer through NEFT or RTGS | Free |
- In a financial year, the aggregate of all credits should not exceed Rs 1 lakh.
- Balance in the account should not be more than Rs 50,000 at any point of time.
- In a month, the aggregate of all withdrawals and deposits should not be more than Rs 10,000.
- Foreign remittances will only be credited to the account if the identity of the remitter is fully established through submission of valid documents.
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GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
