Can I change zero balance account to savings account?

Zero-balance accounts have a limit on the number of transactions you can make per month. Usually, banks allow only four monthly withdrawals. If you do make more than the permitted number of withdrawals, the bank will convert your zero-balance account into a regular Savings Account.

Can I keep zero balance in SBI savings account?

Simply put, SBI customers keeping nil funds (or zero balance) in any type of savings account with the bank will not have to bear any penalty charges. The customers were required to maintain an average monthly balance of Rs 3,000 in metro branches, and ₹ 2,000 and ₹ 1,000 in semi-urban and rural branches respectively.

How can I convert my Jan Dhan account to savings account?

To convert Jan Dhan account to a Savings account, you have to close your Jan Dhan account. If you are opening your Savings Account in the same branch, then CIF transfer will have to be done. So you have to write the application to close the account or to get the CIF transfer done.

Can I transfer my SBI bank account online?

State Bank of India (SBI) on May 7 announced that a customer can transfer his or her account from one branch of the bank to another without even visiting the bank. The customer can do it simply by using the YONO SBI app, YONO Lite app and SBI’s online services.

How can I transfer my SBI account online?

1) Log in to SBI’s official website ‘www.onlinesbi.com’. 2) Select ‘personal banking’ with your username and password. 3) Now, click on the ‘e-services’ tab on the top menu bar. 4) After that click on ‘Transfer of savings account’.

Why should you convert your SBI savings account to zero balance?

It can get quite difficult to maintain a savings account in SBI as the minimum account balance is Rs. 3000, which becomes quite challenging for common individuals to maintain. Thus to save these individuals from further impediments, the SBI now allows individuals to convert their savings account to a zero balance account.

How can I convert my zero balance account to regular account?

My friend, you cannot convert your zero balance account to a regular savings account. First, you have to close the zero balance account, then you have to apply for a new account. In case, if you are opening a new account in another branch, then transfer CIF number to the new branch, then apply for a new account.

How to open a basic savings account at SBI?

To open the Basic Savings Account at SBI, the customer has to fill up the account opening form which is available at the bank branch. Just like SBI Fixed Deposit, the customer can open this savings account singly or jointly. Also, the customer can not have any other SBI Savings Bank Account if he/she has a Basic Savings Bank Deposit Account.

What is the maximum amount a customer can deposit in SBI?

The customer can deposit any amount as per his/her convenience. Also, there is no cap on the upper limit. Unlike other savings account, the customer does not have to maintain a minimum balance and can operate the account at zero balance. On maintaining no balance in the account, the customer does not has to pay any penalty.