Question

How much minimum balance required tonopen an bank account in sbi?

Answer 1

The minimum balance requirement in metro cities is 5,000 and 3,000 in non metro cities for SBI to open a saving account. For Canara bank, non metro branch is 1,000.

Private banks usually require 10,000 as their minimum balance while there are so many other accounts with higher minimum limits and add-on benefits. For example, in ICICI bank if account is opened with minimum balance of 25,000, then there will be no charges deducted for with-drawls from ATM's. You can drew your money as many times you want paying any charges. All banks charge penalties for not maintaining minimum balance.