What are the benefits of current account in SBI?

Table of Contents

Features , Benefits and Advantages

Low Monthly Average Balance: Rs 5,000.
Free Cash Deposit upto Rs 5,00,000/- per Month.
Convenience to withdraw and deposit cash at all 22000+ SBI Bank branches.
Free Cash Withdrawal from Home Branch.
Free access to the Safest, Securest, Fastest Corporate Internet Banking.

What is current account and its features?

Features of Current Bank Account It is a non-interest bearing bank account. It needs a higher minimum balance to be maintained as compared to the savings account. Penalty is charged if minimum balance is not maintained in the current account. It charges interest on the short-term funds borrowed from the bank.

What is SBI current account?

A current account is a type of demand deposit account which provides unlimited transactions depending upon the balance maintained in the account. A current account can be opened by entrepreneurs and professionals who deal with large transactions on a regular basis.

What are the features and benefits of current account?

Features of Current Account

Interest rate: 0%
Minimum balance requirement – average monthly / quarterly balance (the minimum balance requirements differ from one bank to another.
Unlimited transactions per day – transfer funds online, receive and write cheques, cash transactions, and more.

Is GST mandatory for current account in SBI?

There is no GST on Current Bank Account.

Can we deposit cash in current account?

You can deposit cash in your current account using any of the following methods: Depositing cash at any of the branches of your bank. Cheque deposits. Electronic transfers.

Does current account have ATM card?

Yes. All Banks offer ATM CARD for their current account holders.

What is the limit of SBI current account?

SBI Current Account Interest Rate

SBI	Regular Current Account
Minimum Account Balance	Rs. 5,000
Non Maintenance Charge	Non Rural – Rs. 5,000 Rural – Rs. 2,500
Cash Withdraw Limit	Free cash withdrawal from home branch
Interest Rate	Nil

What is limit in current account?

The limit on weekly withdrawals from current account was raised to Rs 1 lakh earlier this month from the Rs 50,000 set just after the November 8 announcement. RBI said that the Rs 24,000 limit on withdrawals from savings accounts per week could also be relooked.

Can I deposit cash in current account?

Current account holders have a cash deposit limit of ₹50 lakhs. Current accounts are mainly used for business transactions and are thus afforded a higher limit. Violation of this limit may garner the attention of the IT Department, and you may face a notice.

How much cash can I withdraw from current account?

50,00,000/- per month, beyond which charges @ Rs. 2 per 1000, min Rs. 50/-per transaction on incremental amount; Third party cash withdrawal allowed only up to maximum Rs. 50,000/- per transaction….in the current economy.

Instrument Value	Charges
Above Rs 1,00,000/-	Rs 150/- per instrument

What is current account in State Bank of India?

The State Bank of India (SBI) offers a wide variety of current accounts to cater to the banking needs of all the individuals. A current account is majorly meant for businessmen, companies, firms etc. that undergo numerous daily banking transactions.

What is the difference between a current account and SBI current account?

A current account is majorly meant for businessmen, companies, firms etc. that undergo numerous daily banking transactions. SBI Current accounts are only meant for the convenience and business needs of individuals and not for earning interest or any kind of savings, hence these are the non-interest bearing accounts.

What are the features of regular current account?

Regular Current Account is ideal for Small Businessmen, Professionals, Traders etc. who need a Current Account with all the facilities at nominal cost. Low Monthly Average Balance: Rs 5,000. Free Cash Deposit upto Rs 5,00,000/- per Month.

What is the average balance of SBI Bank in India?

Low Monthly Average Balance: Rs 5,000. Free Cash Deposit upto Rs 5,00,000/- per Month. Convenience to withdraw and deposit cash at all 22000+ SBI Bank branches. Free Cash Withdrawal from Home Branch.