No minimal balance required for SBI

State Bank of India (SBI), the country’s largest lender by assets, on Wednesday announced waiving maintenance of average monthly balance (AMB) requirement for all savings bank account holders. “The charges on maintaining AMB are now waived off on all 44.51 crore SBI savings bank accounts. Currently, SBI Savings Bank customers’ needs to maintain AMB of Rs 3,000, Rs 2,000 and Rs 1,000 in metro, semi urban and rural areas respectively,” SBI said in a press release.