How to check monthly average balance in SBI - Simple Steps
Check the monthly average balance in SBI: State bank of India offers lots and lots of features for their customers, which are not provided by any other bank in India. SBI is the most trusted bank in the country. It does not matter how difficult it is to open a bank account with SBI, but once you opened the account and completed KYC successfully then you will not face any problems in your account. Most people in India having a bank account in SBI because of its exciting offers and digital banking solution. To avoid inactive accounts, many banks including SBI have now started to calculate Monthly Average balance and minimum balance criteria.
|Check the monthly average balance in SBI|
That means, you must maintain a minimum balance set by the bank in your account, otherwise, you will be penalized. To avoid such penalties on your account, you have to check your monthly average balance on your SBI account. You can check your account’s monthly average balance in SBI online. If you don’t know, we are here to help you. In this post, we will explain step by step procedures to check the monthly average balance in SBI using its internet banking website.
How to check the monthly average balance in SBI?
Step 1: Visit the SBI internet banking website
First of all, you need to log in to your SBI internet banking account to check the monthly average balance in SBI. To do so, you have to visit www.onlinesbi.com on your device’s browser. Once the website was completely loaded, click on the ‘Personal Banking’ option.
|Visit the SBI internet banking website|
Then click on ‘Continue to Login’ and then enter your username, password and captcha as shown in the image. After entering all details, click on login.
Also Check: Reset SBI Credit Card PIN
Step 2: Enter OTP for security purposes
Once you click on login, it will take you to the next page where you will be asked to enter the OTP sent to your mobile number registered with SBI.
|Enter OTP for security purposes|
You have to enter the Time Password which you have received on your registered mobile number by the bank. State bank of India follows this procedure for additional security.
Step 3: Log in to the internet banking website
After you enter high-security code / One Time Password, click on ‘Submit’. Once you click on that option, you are logged into internet banking.
|Log in to the internet banking website|
After login, you will see the main dashboard of SBI internet banking, where you can see your account balance in the middle of the Page.
Step 4: Check your last 10 transactions
Next to the account balance, you will find an option to ‘Click here to view the last 10 transactions. You just need to click on that option. Once you click on that option, the website will display a mini statement of your account.
Also Check: SBI Passbook Online
Step 5: Check your monthly average balance
On the mini statement page, you will see the ‘Monthly Average Balance’ option along with your account name, account balance, un-cleared balance, description, etc. To check the monthly average balance, you need to click on ‘Click here for MAB’.
|Check your monthly average balance|
Once you click on that option, you will see the previous month Monthly Average Balance and also the current month Monthly Average Balance along with your account number on the next page.
How to smartly maintain Monthly Average Balance in SBI?
If you have a savings bank account in SBI, you had to maintain a monthly average balance of Rs.1000, Rs.2000 and Rs.3000 in rural, semi-urban and metro respectively. Failure to do so will result in a fine of Rs. 5 to Rs. 15 including taxes by the bank for non-maintenance of monthly average balance. If you are supposed to maintain a monthly average balance of Rs. 2000 then you need to maintain your account with the balance of Rs. 2000 in a span of thirty days. You can have Rs. 60000 in one day of the month and your account monthly average balance is maintained. It means Rs. 60000 / 30 days is equal to Rs. 2000 per day so that you can easily maintain a minimum account balance.
So these are the steps to know the monthly average balance of your SBI savings accounts online. In this post, we have explained each and every step in detail and also give some tricks to maintain the monthly average balance. I hope this article was helpful in meeting your need.