State Bank of India (SBI), the largest public sector bank in the country, provides various options for opening savings accounts.
Each account comes with its own set of features and benefits.
Let’s delve into the different types of savings accounts offered by SBI and the advantages they provide.
1) Basic Savings Account: Easy and Accessible
According to SBI’s official website, anyone can open a Basic Savings Account by completing the Know Your Customer (KYC) process.
This account can be opened at any SBI branch.
It is suitable for individuals with low income or those who deposit smaller amounts.
There is no minimum balance requirement, and you can deposit any amount you wish. However, this account does not provide check book services.
2) Basic Savings Bank Deposit Small Account: Simplicity for All
Individuals above 18 years of age can open this account, and KYC is not mandatory.
It is designed for those who do not have KYC documents, but it can be converted to a Basic Savings Deposit account by providing the necessary KYC documents.
This account offers most of the basic savings account services, and you can keep a maximum of Rs 50,000 in it.
3) SBI Savings Account (SBI Saving Bank Account): Convenient and Feature-Rich
By offering these different types of savings accounts, SBI ensures that customers have options that suit their specific needs and preferences.
Whether you seek simplicity, accessibility, or a feature-rich experience, SBI has you covered.