Check average balance of your SBI account online to avoid penalty
Why you should maintain the minimum average balance
Non-maintenance of the minimum average balance (MAB) in a savings bank account can attract penalties. The country’s largest bank, State Bank of India (SBI), had the biggest share in penalty for non-maintenance of MAB in savings bank accounts in the financial year 2017-18. It collected nearly half of the amount raised by 24 banks put together, according to a PTI report. To help its customers maintain the required minimum balance, SBI is allowing them to view the average balance of their savings bank account(s) via net banking. Here's how one can do this.
Visit www.onlinesbi.co.in and enter your username and password to login.
After logging in, the website will display the number of savings account(s) held by you with SBI. Click on the hyperlink: ‘Click here for last 10 transactions’ of the bank account you wish to the check average balance for.
You will be redirected to another page where details of the bank account such as account number, description of it, available balance and so on will be reflected. On the same page, click on the hyperlink ‘Click here to view MAB’.
The website will then show you the average balances held by you for the previous month and current month for the bank account you have selected.
One must remember that this service is available only between 8:00AM and 8:00 PM.