State Bank of India (SBI), the country's largest public sector bank, has announced new methods of money transfer. These procedures of SBI will come into effect from July 1.
What kind of fees have been increased in this announcement by SBI?
SBI, India's largest public sector bank, has announced a number of new changes to its core service, the Basic Savings Bank Deposit Account (BSBD). These changes will take effect on July 1. This includes services such as ATM withdrawals, check book services and remittances.
There is no deposit limit
Customers are required to submit their KYC documents to open a basic savings account with SBI. The minimum balance for this savings account will be calculated as zero. Rupee cards are free for these savings accounts and there is no annual maintenance fee. Also many offers are being offered as these accounts are not operational but no fees are charged
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