No Minimum balance required in SBI with flat 3% Interest rate (Rs 3000 MAB earlier)

I have this 4 year old ICICI Privilage account (society based account) as I live in commercial area in Gurgaon.

Features?
NEFT - NO FEE
IMPS - NO FEE
CARDS? NO FEE.
CREDIT CARD - NO FEE (However they charge 25+gst for redeeming points lol
Unlimited transactions for ATM (any ATM machine)
No monthly balance.

It's the best account I ever had. However 4% interest only which is fine as I keep money in either digibank / kotak 811 or airtel for interest, for normal trxns, ICICI is awesome an service is awesome too.
 
SBI reduces minimum balance charges to Rs 15 from up to Rs 50 earlier

The charges for non-maintenance of AMB for customers in Metro and Urban centres have been reduced from a maximum of Rs 50 per month to Rs 15 per month. Similarly for Semi-Urban and Rural centres, the charges have been reduced from Rs 40 every month to Rs 12 and Rs 10 GST charges will be applicable over and above the rates specified above.

The revised charges will be effective from April 01, 2018 and will benefit over 25 crore customers.
Click to expand...
 
SBI does away with minimum balance requirement in savings accounts
The State Bank of India (SBI) on Wednesday announced it will not ask customers to maintain a minimum balance in savings accounts.

The state-owned bank rationalised interest rate on savings bank accounts to a flat 3 per cent annum. It also waived off SMS charges.

Currently, the interest rate on savings accounts is 3.25 per cent for deposits up to Rs 1 lakh in savings accounts, and 3 per cent for deposits above Rs 1 lakh.
Click to expand...
 
I definitely welcome it, but why can't they make up their mind? First they remove the MAB requirement, then they added it again and now its removed. 🤷‍♂️
 

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They removed it because many people stopped using the account and withdrawn all the balance.
It shows up in shareholder report.
 
Everytime s new manager comes in he/she must be 'coming in' with their 'own' brainwave😋. Or they must have realised that their greed has diminishing returns.
 
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Well they decided to charge people with money instead by reducing 3.5 to 3
Buckleup as all pvt banks to follow and we are never going back.
 
I wish private banks also follow this I just want HDFC savings max account/ ICICI gold priority account without minimum balance requirement
 

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