2 Replies to “what is the security deposit money in STATE BANK OF INDIA in a savings account ?”

  1. If I am not wrong, security deposit is nothing but minimum balance to be maintained in savings account to keep the account viable.
    For SBI,
    The minimum balance requirements are
    If you are living in Metro /Urban -Rs.1000, if you want the cheque or it is Rs.500.

    If you are living in Semi-Urban Rs. 200 ; If you are in Rural Rs.500 for cheque operated a/c, and Rs.200 for ordinary a/c.

  2. I am sure it is about the minimum balance required to be kept in the Savings Account is what you are talking about. The stipulation is as under
    For persons in Urban/Metro areas : Rs.1,100 if you are with a cheque book facility and using ATM Debit Card. Rs.1000 is actually the minimum balance plus Rs.100 for the cheque book provided. If the minimum balance comes down below Rs.1000 at any time, bank charges are levied.

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