Question: What Is AMC Charges In SBI Bank?

What is the minimum balance in SBI?

Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas.

Further, the bank used to levy a penalty of Rs 5 to Rs 15 + taxes on non-maintenance of average monthly balance as stated above..

What is AMC charge?

The Account Maintenance Charge (AMC) is the cost to maintain your demat account and thus, it is applicable only for the demat account maintained with us, i.e. your trading account and commodity account will not have a maintenance charge.

What are the debit card charges in SBI?

Issuance and Annual Maintenance ChargesParticularsCharges*Issuance ChargesNilAnnual Maintenance ChargesRs 125/- plus GSTCard Replacement ChargesRs 300/- plus GST

Which debit card is best in SBI?

Best SBI Debit Cards State Bank Silver International Debit Card. State Bank Global International Debit Card. State bank Gold International Debit Card. SBI Platinum International Debit Card.

How is AMC calculated?

She had bought the unit two years ago for about Rs 8,000, and was now asked to cough up Rs 1,000 for the AMC-which translates into roughly 12.5% of the product’s price. … According to industry officials, in this country, AMCs are usually pegged at up to 10% of a product’s price, although in some cases it is higher.

What is the ATM card AMC?

SBI charges an annual maintenance charge for the debit card. For SBI’s classic debit card, this charge is set at ₹ 125 plus GST. This fee is recovered by the bank at the beginning of the second year onwards. For replacement of a debit card, SBI charges ₹ 300 plus GST.

How do I avoid annual fee for debit card?

Here are some suggestions on how to avoid paying debit card usage fees:Cash always works. OK. … Withdraw cash from a bank ATM. … Upgrade accounts. … Switch banks. … Use a credit card. … Pay with a check. … Switch to mobile payments. … Use electronic checking.More items…•

What is AMC in SBI?

Demat AMC refers to the maintenance charge that is levied by us to keep your demat account active. The charge is Rs. 500 + GST.

Is Zerodha really free?

This platform is absolutely free since August 24, 2018. Here, you can make your investments without any commissions. With the help of Zerodha Coin, you can have Direct mutual funds in DEMAT form, with the convenience of one portfolio across equity, MF, currency, etc.

How many transactions are free in SBI debit card?

8 free transactionsWith effect from 1st July, SBI has revised its ATM withdrawal rules. As per the information available on the official website (sbi.co.in), SBI allows 8 free transactions to its regular savings account holders to transact in a month. Beyond this, customers are charged on each transaction.

Why is SBI deducting money from my account?

Recently, an SBI account holder has raised an objection with the bank alleging that a total of Rs 300 has been deducted from his account. … It also defined that in case if a transaction is declined due to insufficient balance in the account, the SBI levies a charge of Rs 20 plus GST.

How many cash transactions are free in SBI?

three transactionsCash deposit transactions SBI is offering three transactions free every month for deposit of cash. If the cash deposit transaction exceeds three, then Rs 50 plus GST will be charged per transaction. The number of free cash withdrawals at a branch will be dependent on the AMB of your account.

What is ATM card AMC charge in SBI?

Debit Card Related ChargesSl.NoParticularsRs2.Debit Card Annual Maintenance Charges (Recovered at the beginning of the second year onwards)₹250/- plus GST₹350/- plus GST3.Debit Card Replacement Charges₹ 300/- plus GST4.Duplicate PIN/ Regeneration of PIN₹ 50/- plus GST23 more rows

Which debit card is free in SBI?

Types of SBI Debit CardsCardDaily withdrawal limitFreedom RewardzSBI Platinum International Debit CardRs.1,00,000/-1 point for every Rs.200 spentSBI Mumbai Metro Combo CardRs.40,000/-1 point for every Rs.200 spentsbiINTOUCH Tap & Go Debit CardRs.40,000/-1 point for every Rs.200 spent4 more rows

What is SMS charges in SBI?

SMS Alert charges per quarter from Debit Cardholders who maintain an average quarterly balance of Rs 25000 and below during the quarter was Rs 12 including GST per quarter. This charge was already waived for all Salary Package accounts, Current Account variants such as Regular, Gold, Diamond, Platinum customers.