SBI Basic Savings Account: No Minimum Balance Charges And Other Benefits

India's largest bank SBI has clarified that charges for non-maintenance of monthly average balance does not apply to all its bank accounts. In a Twitter post, SBI said that basic savings bank deposit accounts are exempted from maintaining monthly average balance. Out of the 40 crore savings bank accounts that SBI has, 13 crore accounts fall under exempted category, the state-owned lender said. The basic savings bank deposit account holders will get host of other benefits that normal savings account holders get but they don't have to maintain any minimum monthly balance, SBI said in a tweet.