SBI Savings Account
SBI Savings Account Online
- SBI offers a wide range of savings account products for specific customer groups.
- Minimum balance requirement to open a savings account in SBI is NIL.
- You can get high returns up to 2.70% on a savings account.
- Open instant SBI savings account online.
- Internet banking and mobile banking facility available.
- The facility of safe deposits locker facility, nomination available in SBI.
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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 offers an interest rate on saving account in the range of 2.70% to 2.70%.
- Balance requirement for SBI savings account is NIL.
- An individual can transfer the SBI savings account to any other branch without changing the account number.
- Safe deposits locker facility, nomination facility is also available.
- SBI savings account provides the facility of linking to the Multi Option Deposit account to fetch higher term deposit interest on the surplus money.
- It provides various kinds of debit cards as per account holder’s convenience.
- SBI offer banking facilities like internet banking and missed call banking. An individual can also avail the mobile banking facility which provides services like interbank mobile payment services (IMPS), utility bill payments, mobile recharges, enquiry and statements and cheque book request.
- No charge is levied for passbook service.
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:
- Nomination facility is available and recommended
- SMS Alerts and e statement facility
- Auto Sweep Facility : account can be linked to Multi Option Deposit MOD account
- Personal Accident and Health Insurance at discounted rates from SBI General Insurance Company Ltd.
Eligibility:
- This account is for resident Indians of 18 years of age and above
Savings Plus Account
This account is linked to MODS, wherein surplus fund above a threshold limit is transferred automatically to Term Deposits.
Key Features:
- Nomination facility is available and recommended
- SMS Alerts and e statement facility
- Auto Sweep Facility : account can be linked to Multi Option Deposit MOD account
- Personal Accident and Health Insurance at discounted rates from SBI General Insurance Company Ltd.
Eligibility:
- All individuals with proper KYC documents can open their account solely or jointly.
Yuva Savings Plus Account
This account is for young adults for an independent, restriction free banking experience.
Key Features:
- Nomination facility is available and recommended
- SMS Alerts and e Statement facility
- Auto Sweep Facility : account can be linked to Multi Option Deposit MOD account
- Personal Accident and Health Insurance at discounted rates from SBI General Insurance Company Ltd.
Eligibility:
- This account is for resident Indians of 18 years to 30 years of age
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:
- No minimum balance required to open a savings account
- SMS Alerts and e Statement facility
- Auto Sweep Facility : account can be linked to Multi Option Deposit MOD account
- It provides various kinds of debit cards like silver, gold and platinum.
- Holders of Basic Savings Bank Deposit Account will not be eligible to open any other Savings Bank Account
Eligibility:
- This account is for resident Indians of 18 years of age and above
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:
- Get the benefits of Auto Sweep Facility with a minimum threshold of Rs. 20,000
- Availability of Nomination facility
Eligibility:
- The features of this account can be enjoyed by minors
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:
- Nomination facility is available and recommended
- SMS Alerts and e Statement facility
- Auto Sweep Facility : account can be linked to Multi Option Deposit MOD account
- Personal Accident and Health Insurance at discounted rates from SBI General Insurance Company Ltd.
- Account can be converted to Regular Savings Account upon submission of KYC documents
Eligibility:
- This account is for resident Indians of 18 years to 30 years of age
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:
- Nomination facility is available and recommended
- SMS Alerts and e Statement facility
- Auto Sweep Facility : account can be linked to Multi Option Deposit MOD account
- PehlaKadam :Jointly with the Parent/ Guardian or Singly by Parent/ Guardian; PehliUdaan: Singly Operated
- Personal Accident and Health Insurance at discounted rates from SBI General Insurance Company Ltd
Eligibility:
- Pehla Kadam: Minor of any age; Pehli Udaan: Minor older than 10 years
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.
Top Applications Offering UPI Facility
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.
Open saving account with Other Banks online
- Axis Bank Savings Account Opening Online
- ICICI Bank Savings Account Opening Online
- Kotak Bank Savings Account Opening Online
- Yes Bank Savings Account Opening Online
- Citibank Savings Account Opening Online
- Standard Chartered Bank Savings Account Opening Online
- Bank of Baroda Savings Account Opening Online
- IDBI Bank Savings Account Opening Online
- Indian Bank Savings Account Opening Online
- PNB Savings Account Opening Online
- HDFC Bank Savings Account Opening Online
- South Indian Bank Savings Account Opening Online
- Andhra Bank Savings Account Opening Online
- Canara Bank Savings Account Opening Online
- UCO Bank Savings Account Opening Online
- DBS Bank Savings Account Opening Online
- India Post Office Savings Account Opening Online
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.
- Compare Savings Account Interest Rates
- SBI Savings Account Interest Rates
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- ICICI Savings Account Interest Rates
- Zero Balance Savings Account
- Savings Account Documents Required
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- Types of Savings Account
- ATM
- Savings Account Vs current account
- Online Savings Account Opening
- SBI Savings Account Opening
- HDFC Savings Account Opening
- HDFC Savings Account
- UPI
- RTGS
- IMPS
- Bhim UPI
- HDFC Balance Check Enquiry Toll-Free Number
- SBI Balance Check Enquiry Toll-Free Number
- SBI IMPS
- HDFC IMPS
- Cancelled Cheque
- HDFC Bank UPI
- SBI UPI
- SBI RTGS
- High-Interest Rate Savings Account
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