Country / This zero balance account will have to be opened in SBI all these services will be available for free

SBI Basic Savings Account: SBI Basic Savings Bank Deposit Account (BSBDA) can be opened by any individual by providing valid KYC documents. The minimum balance required in this bank account is zero and there is no limit on the maximum amount in this account.

Under SBI's BSBD account, account holders will get the same facilities, which are not available on other savings accounts. The biggest feature of this account is that there is no need to keep any minimum or maximum balance for this. The same interest is paid annually on this account as is available on other savings accounts of State Bank. The most important condition for opening this account is that the customer should not have any other savings account, if there is a savings or basic savings account, then the customer has to close it within 4 weeks.

According to the new rules, cash can be withdrawn free of cost 4 times a month (including ATM and branch) in case of cash withdrawal from BSBD account from State Bank of India branch or from ATM. Thereafter, the bank will levy the charge, which is fixed at Rs.15+GST per cash withdrawal at the branch channel/ATM. Apart from SBI ATMs, the same charge is applicable for withdrawals from ATMs of other banks.

SBI will give free first 10 checks in a financial year to BSBD account holders. After that Rs 40 plus GST will be charged for a check book containing 10 checks. Rs 75 plus GST will be charged for a check book with 25 checks. For emergency check book with 10 checks, Rs 50 plus GST will have to be paid. Senior citizens are exempted from the new service charge on checkbooks.

According to SBI, there will be no charge for BSBD account holders for non-financial transactions through branch channels/ATMs/CDMs. Whether these transactions can be done from SBI ATM or any other bank ATM. Similarly, the bank will not levy any charge on transfer transactions through branches and alternate channels.

SBI Basic Savings Account can be opened by any individual by providing valid KYC documents. The minimum balance required in SBI BSBD account is zero and there is no limit on the maximum amount in this account. BSBD account holders also get a basic RuPay ATM cum Debit Card. BSBD account can be opened in SBI singly and jointly. To avail this account, the customer should not have any other account in SBI.