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SBI Small Savings Account
|Category||Regular Savings Account|
|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|
|Maximum balance||Rs 50,000|
|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|
||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
|Collection/deposit of Central/ State government checks||Free|
Terms and Conditions of SBI Small Savings Account
|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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