Basic Savings Bank Deposit Small Account
Small savings account for individuals above 18 without officially valid KYC documents, subject to transaction and balance limits.
Key Benefits
Basic RuPay ATM-cum-debit card; no annual maintenance charge; electronic NEFT/RTGS credits free; government cheque collection free; no account closure charges.
Eligibility
Individual above 18 years who does not have Officially Valid KYC documents; account can be converted to regular savings after KYC.
Documents Required
Self-attested photograph and signature or thumb impression before authorised bank officer, as specified by SBI.
Fees & Charges
Maximum 4 withdrawals per month; monthly withdrawal/transfer aggregate ₹10,000; annual credits capped at ₹1 lakh; balance capped at ₹50,000.
How to Apply
Available at SBI branches other than specified specialised branches.
Frequently Asked Questions
What is the maximum balance?
SBI states that the maximum balance is ₹50,000.
How many withdrawals are allowed?
SBI states a maximum of four withdrawals in a month, including ATM and other specified debit modes.
Can the account be converted to a regular savings account?
Yes, SBI states it can be converted after submission of KYC documents.