Good news for SBI customers: Bank waives Average Monthly Balance on all savings accounts
India’s largest lender the State Bank of India (SBI) has waived off the Average Monthly Balance (AMB) for all Savings Bank Accounts, the company said in a media release. This means that the customers do not need to maintain a minimum balance in their bank accounts
Currently, SBI Savings Bank customers need to maintain AMB of Rs 3000, Rs 2000 and Rs 1000 in Metro, Semi-Urban and Rural areas respectively: Source: Reuters