Minimum Balance Requirement
Rs. 10,000
Facilities
Chequebook, ATM cum Debit Card, internet banking, mobile banking, NEFT, RTGS, SMS alerts, cheque collection, cash deposit, cash withdrawal, overdraft, and a lot more
Interest
Nil
State Bank of India (SBI) Current account is a Demand Deposit account. A current account is ideal for professionals, businessmen, entrepreneurs, traders, organizations, institutions, and others who handle bulk cash transactions or fund transfer on a regular basis. The account comes with transactional and other benefits depending on the balance maintained by the account holder.
State Bank of India being one of the largest public-sector banking firms provides the following Current Accounts:
In the following post, we will cover information about features of SBI current account, eligibility criteria, documentation required for account opening, application procedure, different types of SBI current accounts, their features, fees, charges, facilities, additional services, and FAQs.
Here are the features of Current Account SBI:
Here are the eligible candidates for opening an SBI current account:
In general, the below-specified business entities can open a SBI current account:
SBI requires the below-given valid and self-attested documents from you to open a current account. Below-given is a list of documents for State Bank of India Current Account Opening:
You can either apply online or visit the nearest bank branch to open a current account at SBI.
SBI offers different types of current accounts. These current accounts are based on the profiles of businessmen, entrepreneurs, traders, entities, and other applicants. Below-given is a detailed list of State Bank Current Accounts:
The State Bank of India Regular Current Account (C. Acc) is for Professionals, traders, small businessmen, and relevant others who require all the C. Acc services at an affordable cost. The monthly average balance (MAB) for this account is Rs. 10,000 only.
Features
Fees and Charges
Non-maintenance charges for MAB
Per month Rs. 500 + GST
Duplicate Statement of C. Acc
Rs. 100 + GST per page up to 40 entries
Cash Deposit in Non Home Branch
Rs. 1 lakh per day is the maximum limit of cash deposit at non-home branch
Account Keeping
Rs. 550 + GST
Account Closing
Cash Deposit
Extra Cheque Leave Above Free Limit
Cash Withdrawal
Outstation Cheque Collection
Demand Draft (DD)
RTGS
NEFT
State Bank of India GOLD Current Account is designed for trader, professionals, premium businessmen, and relevant others who wish to diversify and expand their operations as well as handle bulk cash transactions. This C. Acc offers several services at discounted rates, which significantly reduce the cost of transactions.
Non-maintenance of MAB
Rs. 2,000 + GST
Rs. 100 + GST for 40 entries per page
Cheque Leaves Above Free Limit
Demand Drafts (DDs) Above Free Limit
Cash Withdrawal at Non Home Branch
Maximum per day limit for self-only is Rs. 1 lakh
Cash Deposit at Non Home Branch
Rs. 2 lakhs per day is the maximum limit for cash deposit at non-home branch
Cash Deposit at Home Branch
State Bank of India DIAMOND Current Account is a special C. Acc for top professionals, elite businessmen, large traders, and relevant customers who wish operate through India, and handle bulk cash transactions, as well as process a large number of collections and payment transactions. This particular current account offers maximum services free or at a nominal charge.
Non-maintenance of MAB Per Month
Demand Drafts (DDs)
No charges
State Bank of India PLATINUM Current Account is for those who need superior C. Acc services and products for the business and themselves. This account provides most of the services free and unlimited, or at cost-effective price. This bank account is feasible for large traders, top professionals, elite businessmen, and relevant others who operate in the country, process large number of collections and payment transactions, as well as handle bulk cash transactions.
Cash Deposit at CDM
Unlimited cash deposit
Outstation Cheque Collection (OCC)
Normal charges for OC of any amount
State Bank of India Power POS Current Account is designed for customers who avail POS (Point of Sale) facility. You do not have to make any initial deposit. You can access secure, safe, and quick corporate internet banking services. This C. Acc comes with Overdraft facility. It also offers additional services free or at nominal charges.
Features and Charges
Overdraft (OD) Facility
Overdraft Limit
Overdraft (OD) facility is available for account holders. OD of up to Rs. 5 lakhs is possible
Loan Eligibility
You are eligible to get a loan of up to 25% of the last 6 months transaction
Loan Amount
The minimum and maximum loan amount is Rs. 25,000 and Rs. 5 lakhs
OD Availability
Terms and Conditions
State Bank of India Surbhi Current Account is ideal for institutions, corporate, trusts, and relevant others. It offers great liquidity and returns. Also, this SBI current account has a scheme with sweep and reverse sweep option to CLTD (Corporate Liquid Term Deposits). The monthly average balance requirement is only Rs. 10,000. You get the facility of free cash withdrawal from the home branch and unlimited number of payments across branches in India.
Terms and Conditions for the Account Operation
By means of auto sweep facility to special deposit/term deposit account, the balance in current or savings account will be transferred automatically on a weekly basis. This happens when the account has surplus funds in it. You as a depositor can decide the tenure of the deposit.
Threshold Limit
Reverse Auto Sweep
Interest Rate on Reverse Sweep
Terms and Conditions for Cash Deposit
Cash Withdrawal at Home Branch
No Charges
State Bank of India Power Jyoti Current Account is for the purpose of fund collection at all the SBI branches along with MIS generation. This account is suitable for firms, government bodies, educational institutions, other institutions, for the purpose of collection of funds/fines/fees, etc. Here, the remitter can send funds without having an account at the State Bank of India.
To be eligible for the C. Acc, the account holder must be a firm/company/institution or any other eligible entity in India with a wide collection of funds or fees from multi-location outlets.
State Bank of India Power Jyoti Pul Pre-uploaded is a Current Account for institutions intending to collect funds from different remitters via core banking SBI branches. The collections are also possible through internet banking with pre-uploaded data. This C. Acc is ideal for schools, colleges, universities, government bodies, and other institutions that want to collect fines/fees/funds, etc. Not only these institutions, but business organizations can also use this current account for fund collection from dealers, sales outlets, sub-dealers, and other at any of the SBI branches.
Below-mentioned are the FAQs about State Bank of India Savings Account:
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