SBI Minimum Balance: The State Bank of India or SBI minimum balance limit for all savings account holders is something that all of the SBI customers should be aware of. Not knowing the SBI minimum balance rules or not adhering to these SBI minimum balance rules means they will have to face penalties. According to the SBI's official website — sbi.co.in or onlinesbi.com — there are various SBI savings account minimum balance rules that apply in different parts of India. SBI offers various savings accounts in which customers can deposit their money.

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However, for various types of SBI savings accounts — depending upon the location of urban, semi-urban and metro city location of the branch - there is SBI minimum balance penalty that an SBI customer must keep in mind or else the bank will take action against the customer who doesn't adhere this SBI minimum balance limit norms. So, SBI customers are advised to know the rules in regard to SBI minimum balance in the account.

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Here is the list of various SBI savings account minimum balance limit rules:

1] SBI savings account holders having an account in the metro city need to maintain an average monthly balance of Rs 3,000.

2] SBI savings account holders of the semi-urban branch needs to maintain an average monthly minimum balance of Rs 2,000.

3] SBI savings account holders in the rural branches need to maintain an average monthly minimum balance of Rs 1,000 in their SBI savings account.

In case, an SBI savings account holders account fails to maintain the average monthly minimum balance in one's  SBI savings account, he or she will have to face the SBI minimum balance penalty, inclusive of the GST. The penalty rules for the SBI savings account holders are as follows:

1] According to the SBI guidelines available on onlinesbi.com and sbi.co.in, the SBI savings account holders in metro and urban branches will have to face Rs 10 plus GST to Rs 15 plus GST in case he or she fails to maintain the SBI savings account minimum balance.

2] In semi-urban SBI branches, if SBI savings account holders fail to maintain the SBI minimum balance limit in one's SBI savings account, then he or she will have to face the penalty of Rs 7.50 plus GST to Rs 12 plus GST.

3] In rural SBI branches if SBI savings account holders fail to maintain the SBI minim balance limit then the SBI customer will have to face the penalty of Rs 5 to Rs 10 plus GST.

Recently, the SBI has reduced the SBI savings account interest rate to 3.25 per cent on all those SBI accounts that has deposits below Rs 1 lakh. The new interest rate has become effective from 1st November 2019 on all SBI savings account having deposits less than Rs 1 lakh. SBI has reduced the long-term fixed deposit returns by 15 bps as well. From 10th January 2020, SBI FD interest rates on SBI fixed deposits for one year to up to 10 years will yield 6.10 per cent returns instead of 6.25 per cent.