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SBI Current Account

SBI Current Account Interest Rate

Last Updated 15th Jan 2021

SBIRegular Current Account
Minimum Account BalanceRs. 10,000
Non Maintenance Charge Non Rural - Rs. 5,000 Rural - Rs. 2,500
Interest RateNil

Salient Feature of SBI Current Account:

  • First 50 cheque leaves free
  • Free ATM card during first year
  • Free cash deposit upto Rs. 25,000 per day
  • Compare the Current Account features of SBI with other banks and pick the best bank for yourself.
  • Walk in the nearest SBI branch to open a Current Account and avail quality services.
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SBI Current Account Minimum Balance and Charges

SBI Bank Current Account SBI Bank Current Account Minimum Balance Non Maintenance Charges
Regular Current AccountRs. 10,000Non Rural - Rs. 5,000 Rural - Rs. 2,500

SBI Account Details – Current Account

SBI Current Accounts have been customised to meet the varied customer needs. Current Account are business accounts which provide unlimited daily transactions along with personalised services to help the businessmen and self employed professionals such as doctors, consultants, chartered accountants to conduct daily bank transactions. SBI also offers an overdraft facility under which a credit limit is offered to allow you to withdraw money as and when required to meet your working capital requirements.

SBI Current Account Products

Regular Current Account

  • First 50 cheque leaves free
  • Free ATM card during first year
  • Free cash deposit upto Rs. 25,000 per day
  • Minimum balance requirement is Rs. 10,000
  • Charges for non maintenance of the minimum balance is Non Rural - Rs. 5,000 Rural - Rs. 2,500

SBI Current Account Eligibility

To open a SBI Current account, one needs to fulfil the following eligibility criteria:

  • The individual applying for a current account requires authentic KYC documents.
  • It can be opened by sole proprietors, partnerships, co-operative societies, Trustors, administrations and documentation.
  • Further, SBI requires a minimum account balance of Rs. 10,000 to be maintained in its current account.

SBI Current Account Opening Procedure

A current account facility can be availed in any bank through both online and offline procedures. The online process to open a current account is more time saving and easy.

Online Process:

  • Visit the Bank's website or the Bank's online current account portal.
  • Select the 'Open current account' option.
  • Fill in the personal details in the current account application form.
  • Download the application form and submit the printed copy in the Bank on your next visit.

For the offline process, one needs to visit the nearest Bank in person, with the required documents.

SBI Current Account Opening Documents

  • Proof of identity – PAN card, voter ID card, passport, driving license
  • Proof of address
  • Recent Colour Photograph
  • PAN/Form 49 A along with Form 60 if applied for PAN
  • Account opening Cheque from existing Savings/Individual Current Account

FAQs

How much interest is offered by SBI on Current Account?

SBI like any other Current Account does not offer an interest on the account.

What is the minimum amount required for opening Current Account in SBI?

SBI Current Account minimum balance is Rs. 10,000.

How to open a Current Account online with SBI?

To open a Current Account online you can visit the website of SBI and choose from the wide range of Current Account products offered by SBI. Click the “apply now” option, fill in your details, and submit. The bank representatives will contact you for further information and for processing your account application form.

What are SBI Current Account charges on non maintenance of balance?

The Balance Non Maintenance Charges on Current Account by SBI are Non Rural - Rs. 5,000 Rural - Rs. 2,500.

What are the SBI cash withdrawal limit on Current Account?

The cash withdrawal limit on SBI Current Account is .

Does SBI offer Debit/credit card to the account holder?

Yes, SBI offers debit card or credit card to its Current Account holders. The type and features of these debit cards or credit cards may differ with the Current Account you choose to open.


SBI Business Loan News - Jan 2021
  • 2020-12-10 : SBI goes easy on a plan to spin off Yono
    State Bank of India is going slow on its plans to divest its stake in digital platform Yono, YONO is a digital initiative by SBI and stands for “You Only Need One”. YONO helps customers to apply for retail loans like home, personal, gold, two-wheeler and car loan along with business and mudra loans digitally. Further, it also helps in investing in FD and RDs. The special digital tool also provides the facility to apply for the current and savings account.
  • 2020-11-11 : SBI to focus on financial inclusion
    SBI is planning to increase the share of its newly created business vertical, financial inclusion and micro-markets from the current 12% to 20% by March 2022. The bank recently created a separate FI&MM vertical within the bank with an aim of financial inclusion of rural and semi-urban areas to improve customer experience in the hinterland.
  • 2020-11-05 : SBI net profit rises to ₹4,574 crores in Q2
    SBI September quarter net profit jumped 52% year-on-year to Rs 4,574.16 crore as the provisions declined during the quarter. Credit growth for the bank logged an improvement of 6.02% over the previous year driven by home, personal, car, two-wheeler and gold loan along with mudra and business loan. Total advances at the end of Q2 were at Rs 23.83 trillion. Further, total Deposits which includes fixed and recurring deposits grew at 14.4% on a yearly basis to Rs 34.70 trillion, out of which current account deposit grew by 8.55% YoY while saving bank deposits grew by 16.28 per cent YoY.
  • 2020-09-03 : SBI shares safety tips to eliminate online fraud
    SBI shared tips to stay safe and to recognise fraudsters. The bank, in a short video clip shared on SBI official Twitter handle, warned that the financial service sector is increasingly becoming a target for cybercrime. Further, the bank shared some ways to avoid getting scammed which includes guidelines such as never click on suspicious links, Change your account passwords constantly etc.
  • 2020-08-06 : SBI reports Q1FY21 net profit of Rs. 4776.50 crore
    State Bank of India reported a net profit of Rs.4776.50 crores for the period ended June 30, 2020, as against a net profit of Rs.6909.95 crores for the period ended March 31, 2020. The Bank posted a total income of Rs.87984.33 crores backed by retail loans like home, personal, car, two-wheeler, and gold loan along with the business and mudra loans. Further, the bank total deposits which include FD, RD, current and savings account grew at 15.96 per cent YoY.
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