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SBI Small Savings Account

Savings Account
  • Instant money transfer
  • 24x7 ATM withdrawals
  • Attractive rate of interest

Highlights

BankSBI
CategoryRegular Savings Account
Minimum BalanceNil
Interest Rate4.00% per annum
Card OfferedATM 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.
Features
Age limit18 years
EligibilitySame as regular SBI savings account
Overdraft facilityNot Available
Minimum balanceNil
Maximum balanceRs 50,000
Reward pointsNo
Services
Internet BankingAvailable for free
Mobile bankingNot available
Cheque BooksYes, available for free
ATM cum Debit CardYes, available for free

Fees and Charges of SBI Small Savings Account

Terms and Conditions of SBI Small Savings Account
ATM transactionsFree up to 4 transactions at SBI and other bank ATMs
Duplicate Pass bookRs.100 with latest balance
Duplicate Statement Rs.100 with latest balance
Outstation cheque collectionRs.150 and other bank charges if applicable
Check booksFree, up to 25 leaves in a year
Return of ChequeRs 75 for local unpaid cheques and other bank charges if applicable
Activation of inoperative accounts No charges
Collection/deposit of Central/ State government checksFree
Online funds transfer through NEFT or RTGSFree
  • 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.

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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.

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