SBI reduces minimum balance charges to Rs 15

New Delhi: Country's largest lender State Bank of India (SBI) on Tuesday reduced the minimum balance charges for non-maintenance of average minimum balance by up to 75 percent. Charges for non-maintenance of average minimum balance in Metro and Urban centres have been reduced from maximum of Rs 50 per month plus GST to Rs 15 per month plus GST. For Semi-Urban and Rural centres charges have been reduced from Rs 40 per month plus GST to Rs 12 and Rs 10 per month plus GST respectively. The new rates on minimum balance charges will be effective from April 1, 2018.