Good News! for Jan Dhan account holders, as now they can reap benefits from their banks too. Recently, banks including the State Bank of India (SBI) made major changes in one of their rules. As per the new norm, it is mandatory for the holder to have a minimum balance in their account, however, this does not apply for the accounts opened under the Jan Dhan Yojana. That is, if you have also opened a Jan Dhan money account, you will not have any tension about keeping the minimum balance. You can withdraw as much money as you have. According to the bank officials, apart from the accounts opened under Jan Dhan Yojana, the benefit will also apply to basic saving accounts too. Moreover, there is no provision of minimum balance in staff, students and salary accounts. However, account holders with a normal account in SBI will now be penalised for not maintaining minimum balance.
SBI, earlier in April this year, made it compulsory for normal account holders to have a minimum balance in their accounts. According to a senior bank official in Chandigarh, now the Minimum Average Balance (Monthly) of Rs 3,000 for the Saving Bank Account Holder in metro cities is mandatory. Earlier this limit was Rs 5,000. At the same time, the condition of minimum balance in urban, semi-urban and rural areas will be Rs 3,000, Rs 2,000 and Rs 1,000 respectively.
SBI has exempted pensioners, beneficiaries of government schemes and minor account holders from the minimum dues in the savings account. The bank has also reduced the penalty on non-maintenance of minimum balance. The bank has reduced the penalty from 20 to 50 percent. For the semi-urban and rural areas, this fee or penalty amount will be Rs 20 to Rs 40. For urban and metros, it would be Rs 30 to Rs 50