India's largest public sector bank State Bank of India (SBI) will be charging its customers penalties for not maintaining Average Minimum Balance (AMB). SBI customers will have to pay penalties in case they fail to maintain AMB in their savings accounts. The penalties will vary depending on the location of the SBI branch since SBI branches have been divided into four categories which are metro, urban, semi-urban and rural. 

Here's all you need to know about SBI's Average Minimum Balance (AMB) policy:

• The penalties for not maintaining the Average Minimum Balance by SBI customers in their savings account will vary on the type of branch they have their accounts. 
• Customers have to maintain an AMB between Rs 1,000-3,000 depending on the type of branch they have their accounts in. 
• For customers having accounts in metro and urban branches, an AMB of Rs 3,000 have to be maintained. Failing to maintain less than or equivalent to 50% of the AMB, account holders will be charged with a penalty amount ranging from Rs 10-15 plus GST. 

• For customers having accounts in semi-urban branches, an AMB of Rs 2,000 have to be maintained. Failing to maintain less than or equivalent to 50% of the AMB, the account holders will be charged with a penalty amount ranging from Rs 7.50-12 plus GST.

• AMB for customers having savings accounts in rural branches is Rs 1,000. They will be charged with a penalty amount ranging from Rs 5-10 plus GST in case they fail to maintain less than or equivalent to the 50% of the required AMB.

• SBI customers who have zero balance savings accounts will be exempted from maintaining AMB.