SBI Savings Account

Last Updated : Feb. 7, 2025, 5:40 p.m.

State Bank of India is one of the most reputed banks in India. It is very popular among all regions in India be it rural, semi urban or urban. SBI savings account have a wide variety of products for different categories such as minors and adults.

In this article, you will learn about the types of accounts provided and their features and benefits for the customers. You will also be able to have a clear understanding of the interest rates provided by SBI. SBI Bank offers internet banking services and also SBI mini statement facilities.

SBI Savings Account Interest Rates July 2025

Below are the latest savings account interest rates provided by SBI Bank.

Types of SBI Savings Account

Below are the savings accounts provided by SBI and their features and benefits.

Basic Savings Account

This account is also called the Pradhanmantri Jan Dhan Yojana. This account type was introduced by SBi to inculcate and encourage savings for all strata of society.

Features: There is no minimum and maximum balance requirement.

• KYC documents are a must while opening this account
• The monthly withdrawal limit is four
• A Rupay debit card is issued by the bank
• Locker facilities are available.

SBI Basic Small Savings Account:

This savings account type was introduced for the weaker sections of society who do not have valid KYC documents.

Features: The minimum balance required is Nil

• The maximum balance allowed is Rs. 50,000
• The withdrawal limit is Rs. 10,000 with 4 withdrawals allowed per month
• Basic Rupay debit and ATM card
• The maximum limit per annum is Rs. 1 lakh.

SBI Regular Savings Bank account:

This is the most common savings account opted by customers at SBI Bank.

Features: There is no maximum limit for this account

• Rupay debit card is provided
• This is a zero-balance account
• Internet and mobile banking are available
• Nomination is mandatory for this account.

SBI savings account for minors:

This is one of the top savings accounts for minors and encourages savings habits for them. This helps children to manage finances and learn more about the purchase power and the value of money. Children above the age of 10 can open this savings account.

Features: The account can be operated by children under the guidance of their parents

• The transaction limit is Rs. 2,000 per day for mobile banking and Rs. 5,000 per day for Internet banking.
• Chequebook and debit card facilities are available
• An e-term deposit facility is available.

SBI Savings Plus Account: This savings account has an investment objective. It offers the balance to be converted into fixed deposits for a term of 1 - 5 years.

Features: Minimum transaction limit is Rs. 10,000

• The minimum balance is Rs. 35,000
• All KYC are compulsory for this account
• Any surplus amount in the account is automatically converted to fixed deposits.

Documents Required for SBI Savings Account

Opening a SBI savings account you will require customers to present a specific set of documents related to proof of identity and proof of residence. Some of the documents are as below:

Proof of Identity:

• Aadhar Card
• PAN Card
• Voter ID
• Passport
• Company ID Card in case of some companies.

Proof of Residence:

• Telephone Bill
• Electricity Bill
• Passport
• Ration Card
• ITR returns

You will also have to carry 2 additional photographs. Carry other specific documents if you are an HUF/ corporate pr company etc.

SBI Savings Account Charges & Fee

How to open a Savings Account in SBI?

With the advent of technology and banking institutions like SBI Bank being pioneers in offering mobile and internet banking, opening a savings account is very uncomplicated.

Online:

SBI Bank offers an Instant Video KYC Savings Account which can be opened with only Aadhar and PAN details. Once the video call is done, the account is opened and transactions can be done instantly.

Step 1: You can either go to the bank website or use the SBI YONO App for mobile banking.

Step 2: Go to the Start New Savings Account tab.

Step 3: Once the documents are uploaded, and verified online, the account is opened.

Step 4: Authenticate the account with your mobile number.

Step 5: The account will be opened for instant transactions.

Offline:

Step 1: Visit the branch nearest to your location.

Step 2: Carry the documents required for KYC verification.

Step 3: All the documents are verified by bank officials.

Step 4: Your account will be active.