A SBI current account is designed for businesses, professionals, and institutions that carry out frequent high-value transactions. SBI current account opening provides greater flexibility in deposits and withdrawals. The SBI current account minimum balance requirement varies by account type, ranging from Rs. 5,000 to Rs. 10,00,000.
Key Highlights:
- Account Types: Regular, Gold, Diamond, Platinum, Surbhi, Power POS, and more.
- Minimum Balance: Ranges from Rs. 5,000 to Rs. 10,00,000 depending on account type.
- Free Transactions: Unlimited NEFT/RTGS online; 50 free cheque leaves per month.
- Eligibility: Available for individuals, firms, companies, LLPs, trusts, and societies.
- Digital Banking: Free internet banking, mobile banking, and YONO business access.
An SBI Current Account is a non-interest-bearing business account designed for frequent and high-volume financial transactions. It is ideal for business owners, companies, entrepreneurs, and professionals who require regular access to their funds.
SBI ensures that every business type, size, and sector has access to tailored banking solutions with a wide variety of current account types—Regular, Gold, Diamond, and specialized accounts like Power POS and Surbhi. Customers also benefit from features like free NEFT/RTGS transactions, digital banking access, and a vast ATM and branch network for uninterrupted banking.
For SBI current account opening online, customers can complete the process online and then visit the nearest branch with the necessary documents. Here’s a step-by-step guide:
The following are the different types of SBI current accounts that you can opt from:
Account Type | Features |
Regular Current Account | Designed for businesses with moderate transaction volumes, offering essential banking services to manage funds efficiently. |
Normal Current Account | Intended for small businesses and traders with limited transaction needs, this account provides essential banking services for everyday business activities. |
Diamond Current Account | Tailored for large businesses with high transaction volumes, this account offers advanced banking features and additional perks. |
Gold Current Account | Aimed at expanding businesses, providing more comprehensive banking services and higher transaction limits to support growth. |
Platinum Current Account | The premium option from SBI, perfect for high-value transactions, offering personalised services for top-tier businesses. |
Power Pack Current Account | Ideal for businesses that require a full range of banking services, this account offers premium benefits. |
Surbhi Current Account | Exclusively for women entrepreneurs, offering tailored banking solutions and benefits to support their business needs. |
Power Gain Current Account | Designed for businesses with high cash flow, offering significant savings on transaction fees. |
Power POS Current Account | Focused on retail businesses, with specialised services for Point-of-Sale (POS) transactions. |
Power Jyoti PUL Account | Designed for Public Undertakings, offering specialised services to meet the financial needs of government enterprises. |
Power Jyoti Current Account | Created for educational institutions, offering features that help manage finances within the education sector. |
The SBI current account minimum balance varies as per the account type:
Account Type | MAB Requirement |
---|---|
Regular Current Account | Rs. 5,000 |
Normal Current Account | Rs. 10,000 |
Gold Current Account | Rs. 1,00,000 |
Diamond Current Account | Rs. 5,00,000 |
Platinum Current Account | Rs. 10,00,000 |
Surbhi Current Account | Rs. 10,000 |
Power POS Current Account | Rs. 5,000 |
Power Gain Current Account | Rs. 2,00,000 |
Power Pack Current Account | Rs. 5,00,000 |
Power Jyoti Current Account | Rs. 50,000 |
Power Jyoti PUL Current Account | Rs. 50,000 |
The following table shows the SBI current account charges:
Service | Details |
Monthly Average Balance (MAB) | Rs. 5,000 |
Corporate Internet Banking | Free |
Monthly Charges | Free |
Original Current Account Statement | Free |
Duplicate Current Account Statement | Rs. 100 + GST per page (40 entries) |
Free Multicity Cheque Leaves | 50 leaves per month |
Extra Cheque Leaves | Rs. 3 + GST per cheque leaf |
25 Leaf Cheque Book | Rs. 75 + GST |
50 Leaf Cheque Book | Rs. 150 + GST |
Account Transfer to Another Branch | Free |
Overdraft Facility | Not available |
Cash Deposit Limit | Up to 100 times of previous month's MAB (Max Rs. 5 lakhs per month) |
Cash Deposit Beyond Limit | Rs. 0.75 per Rs. 1,000 + GST |
Minimum Cash Deposit Fee | Rs. 50 + GST |
Maximum Cash Deposit Fee | Rs. 20,000 + GST |
Cash Deposit at Non-Home Branch | Max. Rs. 5,00,000 per day |
Cash Withdrawal (Home Branch) | Unlimited free |
Cash Withdrawal (Non-Home Branch) | Max. Rs. 1,00,000 per day (Self only) |
Demand Draft Fee (Up to Rs. 5000) | Rs. 25 (Incl. GST) |
Demand Draft Fee (Rs. 5000 to Rs. 10,000) | Rs. 50 (Incl. GST) |
Demand Draft Fee (Rs. 10,000 to Rs. 1 Lakh) | Rs. 5 per Rs. 1,000 (Min. Rs. 60 Incl. GST) |
Demand Draft Fee (Above Rs. 1 Lakh) | Rs. 4 per Rs. 1,000 (Min. Rs. 600, Max Rs. 2,000 Incl. GST) |
Business Debit Card | PRIDE Business Debit Card |
Outstation Cheque Collection Fee (Up to Rs. 10,000) | Rs. 50 + GST |
Outstation Cheque Collection Fee (Rs. 10,000 to Rs. 1 Lakh) | Rs. 100 + GST |
Outstation Cheque Collection Fee (Above Rs. 1 Lakh) | Rs. 200 + GST |
NEFT (Net/Mobile Banking) | Unlimited free |
NEFT (At Branch) | Up to Rs. 10,000: Rs. 2.50 + GST |
NEFT (At Branch) | Rs. 10,000 to Rs. 1 lakh: Rs. 5 + GST |
NEFT (At Branch) | Rs. 1 lakh to Rs. 2 lakh: Rs. 15 + GST |
NEFT (At Branch) | Above Rs. 2 lakh: Rs. 25 + GST |
RTGS (Net/Mobile Banking) | Unlimited free |
RTGS (At Branch) | Rs. 2 lakh to Rs. 5 lakh: Rs. 25 + GST |
RTGS (At Branch) | Above Rs. 5 lakh: Rs. 50 + GST |
Cash Pickup | Normal charges + Agency charges at actuals |
SMS Alerts | Free |
Account Maintenance Fee | Rs. 550 + GST |
Account Closure Fee (Within 14 Days) | Free |
Account Closure Fee (After 14 Days) | Rs. 1,000 + GST |
MAB Non-Maintenance Fee | Rs. 500 + GST per month |
SBI current accounts can be opened by the following business entities:
A single document for either proof of identity or address is required. Below is a list of documents accepted as proof of identity or address for SBI current account opening:
The following is the list of KYC documents for non-individuals:
Two of the above-mentioned documents are required when submitting the form for SBI current account opening.
The following are the benefits of SBI current account opening:
An SBI current account does not offer interest on the balance maintained. However, some specialised current accounts might offer interest, so you must check the official website of the SBI account for such information.
For any queries regarding SBI current account opening, SBI current account minimum balance or other issues, you can reach out to your nearest SBI branch or contact SBI's current account customer care at 18004253800, 1800112211, or 08026599990.
At present, SBI does not provide an online option for account closure. To close your account, visit your home branch, complete the account closure form, and submit it with proof of your ID and any account-related items. To close your SBI account offline, follow these steps:
SBI staff will process your request and close the account within seven business days, depending on the type and age of the account.
To access your SBI current account statement password-protected file:
The SBI current account is one of the most popular business banking solutions. The simple SBI current account opening process makes it easy for businesses to get started with India’s largest public sector bank. Maintaining the SBI current account minimum balance ensures smooth operations.
Similar Articles:
1. Canara Bank Current Account Opening
2. HDFC Bank Current Account Opening
3. Axis Bank Current Account Opening
4. ICICI Bank Current Account Opening
5. Kotak Mahindra Bank Current Account Opening
Related SBI Articles:
1. How To Get SBI Bank Mini Statement?
2. SBI Gold Loan Interest Rate
3. SBI Saving Account Opening