SBI Savings Account
SBI Savings Account Online
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SBI Savings Account
SBI offers a wide range of savings accounts that allows individuals to deposit money, keep it safe, and withdraw funds, all while earning interest. It provides a savings account according to the needs of the specific customer groups and caters to their requirement. For instance, it offers the Premium saving account for its high-end customers and also provides the minor savings account for children below the age of 18 years. The bank offers several facilities like internet banking, mobile banking, and allows no minimum balance requirement in many saving account products.
Features and Benefits of SBI Savings Account
Benefits of SBI saving Account are as follow:
SBI Savings account Charges
| Product | Minimum balance | Interest Rate | Non Balance Maintenance Charges |
|---|---|---|---|
| Premium Savings Account | NIL | 2.70% - 2.70% | -- |
| Savings Plus Account | NIL | 2.70% - 2.70% | -- |
| Yuva Savings Plus Account | NIL | 2.70% - 2.70% | None |
| Basic Savings Bank Account | NIL | 2.70% - 2.70% | None |
| Savings Bank Account For Minors | NIL | 2.70% - 2.70% | -- |
| Small Savings Account | NIL; Maximum amount is Rs. 5,00,000 | 2.70% - 2.70% | -- |
| Savings Account for Minors: Pehla Kadam and Pehli Udaan | NIL; Maximum amount is Rs. 5,00,000 | 2.70% - 2.70% | -- |
SBI Savings Account Products
SBI offers multiple savings account products for different purposes. Some of the popular products of SBI savings are:
Premium Savings Account
A variety of services consisting of the concessions and add ons.
Key Features:
Eligibility:
Savings Plus Account
This account is linked to MODS, wherein surplus fund above a threshold limit is transferred automatically to Term Deposits.
Key Features:
Eligibility:
Yuva Savings Plus Account
This account is for young adults for an independent, restriction free banking experience.
Key Features:
Eligibility:
Basic Savings Bank Account
This account is meant for poorer sections of society to encourage them to start saving without any burden of charges or fees.
Key Features:
Eligibility:
Savings Bank Account For Minors
Inculcate the habit of savings and spending judiciously in your minor who can open this account and manage it independently.
Key Features:
Eligibility:
Small Savings Account
This account is for people above 18 years of age, who do not have officially valid KYC documents. This is basically meant for savings of poorer sections of society.
Key Features:
Eligibility:
Savings Account for Minors: Pehla Kadam and Pehli Udaan
Inculcate the habit of savings and spending judiciously in your minor who can open this account and manage it independently.
Key Features:
Eligibility:
SBI Savings Account Nomination Plan
SBI asks their customers to make nominations which imply that they should nominate individuals to whom the amount lying in their accounts should go in the event of their death. Nomination can be made in account opening form itself or on a separate form indicating the name and address of the nominee. The person can change the nomination any time. SBI savings account provides the nomination facility in all the savings products.
SBI Savings Account Welcome Kit
SBI provides a Welcome Kit containing personalised cheque book and ATM Card, which is mailed to the customers’ postal address selected for correspondence, after 7 – 8 working days from the date of opening of a particular savings account.
SBI Savings Account Helpline
Individuals can call SBI’s 24X7 helpline number 180-011-2211/ 1800-425-3800, which is accessible from all landlines and mobile phones in the country.
Check Saving Account Offered By Top Banks
FAQs
✅Can I open SBI bank account online?
SBI enables individuals to open a savings bank account online as well. Individuals can open an Insta saving account and digital savings account.
✅What is the minimum balance for an SBI savings account?
Minimum balance requirement differs with SBI saving account products. The minimum balance required to open a Basic Savings Bank Account in SBI is NIL.
✅Which saving account is best in SBI?
There are various savings account products offered by SBI. These accounts are specially developed for a certain section of people. Individuals may compare the interest rate offered, minimum account requirements and facilities provided to select the best product.
✅Can I open SBI account with zero balance?
The minimum balance requirement to open a savings account with SBI is NIL. If any individual does not maintain the minimum balance then non-balance maintenance charges are levied.
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State Bank of India has increased the limit on IMPS transactions from Rs. 2 lakhs to Rs. 5 Lakhs. Earlier, the bank also revises IMPS, NEFT, and RTGS transactions charges. - 2022-01-04 : No Service Charges on IMPS Transactions of Upto Rs. 5 Lakhs Digitally
The State Bank of India will levy a service charge of Rs. 20+ GST on savings account balance of Rs. 2 Lakhs to Rs. 5 Lakhs. There will. However, no charges done through the Internet and Mobile Banking - 2021-12-21 : State Bank of India Launches 3 in 1 Account Facility
The largest public sector lender, SBI, has launched a 3-in-1 account facility for bank customers. The facility includes a savings bank account, a Demat account, and an online trading account.
