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

So then what's the final minimum balance requirement? I have around 3k in my account currently.
 
That's fked up.. 😕
I mean being a non private bank you have to assure aam aadmi how friendly you are imo ,instead of being profit centric.
 

i think their core excuse is that jan dhan accounts exist for people who cannot maintain balance. not sure what the limitations of jan dhan accounts are.
 
volcano619 said:
That's fked up.. 😕
I mean being a non private bank you have to assure aam aadmi how friendly you are imo ,instead of being profit centric.
Click to expand...
I have opened accounts with Bandhan Bank last year with 2000/- AQB.... and imo it is better than SBI.... they even offer few NEFT's free per month...
 
that's the thing. these smaller banks would change policy in coming years and you would be back to square one.
my yes bank account had lots of features that have disappeared over the years. 7% interest is one big one. though it still has enough freebies that stop me from looking for a new bank. but i am pretty sure i would be looking for a new bank in a year or two.
 
well not really a gamble as you can move out any day. but still annoying. i mean banks should not be allowed to change account features without informing the customer at least six months in advance like trai has it for mobile operators (though i do not think even that happens here in india).

i mean till we have bank account portability, changing bank account has a lot of hassles. you get your income tax refunds in it. people with loans have to keep them operational till the loan is fully paid. for people getting online payments, the bank details has to be updated at all the places where you get your payments from.

personally, i would not think twice before dumping yes bank if they start doing the shit that icici bank has been doing wrt aadhaar for example.
 
I think it's due to the involvement of a government body in case of Telecom sector,I don't think we have a governing body in banking do we ??
 
same thing with credit cards. my stanchart cashback credit card was awesome when i got it nearly 10 years ago. today it is mostly useless unless i keep in mind 10 different conditions before using it at specific places. at least it is still free and only saves me money.
 

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