Opening an SBI savings account is one of the smartest ways to start your banking journey. With its wide network of branches, trusted name, and easy online services, SBI has become the first choice for millions across India. Whether you’re a student, a working professional, or a senior citizen, SBI offers different types of accounts to suit your needs.
The SBI savings account interest rate currently ranges between 2.70% to 3%, depending on the balance. If you’re looking for a hassle-free option, SBI zero balance account opening online is also available through the YONO app. From simple SBI account opening steps to understanding the SBI savings account minimum balance, this guide covers everything you need to know — including how much SBI saving account interest you can earn.
Types Of SBI Saving Account September 2025
SBI offers different types of savings accounts to meet the needs of students, salaried individuals, senior citizens, and even NRIs. Whether you want a simple SBI zero balance account or one with added benefits, there’s an option for everyone. Let’s take a look at the most popular types:
1. Basic Savings Bank Deposit (BSBD) Account
This is perfect for people who want to avoid maintaining a minimum balance. It’s often referred to as the SBI zero balance account.
- No minimum balance required
- Free ATM card
- Up to 4 withdrawals per month
- Suitable for students or anyone looking for simple banking
2. Savings Plus Account (Multi Option Deposit)
This is for people who maintain higher balances and want to earn more. Extra money is automatically moved into a fixed deposit.
- Combines savings and FD
- Helps earn more with SBI interest rates on savings account + FD rates
- Auto sweep facility when balance crosses a set limit
3. SBI Insta Savings Account (Digital)
A paperless account you can open through the YONO app. Ideal for people who want to start banking quickly without visiting a branch.
- Instant SBI savings account opening online
- PAN and Aadhaar required
- Comes with mobile banking and a virtual debit card
4. Savings Account for Minors (Pehla Kadam / Pehli Udaan)
These accounts are specially designed for children.
- Joint account with a parent or guardian
- Helps build early saving habits
- No minimum balance required
5. SBI Savings Account for NRIs
If you’re living abroad but want to manage your money in India, SBI offers NRE and NRO accounts.
- Repatriable funds (NRE) or local earnings (NRO)
- Tax benefits depending on the account
- Online SBI bank account opening available for NRIs
Whether you’re opening your first account or switching to digital banking, the SBI savings account options are flexible and secure. Depending on the type, the SBI interest rate on savings account may vary, but most accounts offer around 2.70% interest as of now. Always check with the bank for updated rates and features.
September 2025 SBI Saving Account Interest Rate
When you open a savings account with SBI, you don’t just get a secure way to manage your money—you also earn interest on your daily balance. Currently, the SBI savings account interest rate is 2.70% per annum, which is credited quarterly. Whether you go for an in-branch application or opt for SBI savings account opening online through the YONO app, the interest rate remains the same for all regular accounts.
While returns might be modest compared to other investment options, the reliability of SBI, combined with zero balance options and a vast branch network, makes it a preferred choice. If you’re looking for a simple, safe, and easy-to-maintain savings account, SBI fits the bill.
Account Balance | Interest Rate (per annum) |
Up to ₹1 Lakh | 2.70% |
₹1 Lakh to ₹10 Crores | 2.70% |
Above ₹10 Crores | Contact branch (variable) |
September 2025 SBI Saving Account Minimum Balance
Opening a savings account in SBI comes with several benefits—digital banking, ATM access, and a strong branch network. However, it’s important to know the SBI bank SB account minimum balance requirement to avoid unnecessary penalties. Depending on where your account is based—metro, urban, semi-urban, or rural—the SBI bank minimum balance for savings account can differ.
For example, if you have a regular savings account SBI in a metro city, you’ll need to maintain a higher balance than someone in a rural area. Not maintaining the minimum balance can lead to monthly charges. But if you prefer a no-hassle option, SBI also offers zero balance accounts like the BSBD, which can be opened easily through the online SBI saving account opening form using the YONO app.
Even though the SBI savings account interest rate per month isn’t very high, the advantages of SBI bank—like reliability, 24×7 banking, and a wide network—make it a popular choice across India.
Location Type | Monthly Average Balance (MAB) | Penalty for Non-Maintenance |
Metro | ₹3,000 | ₹10 – ₹15 + GST |
Urban | ₹3,000 | ₹10 – ₹12 + GST |
Semi-Urban | ₹2,000 | ₹7 – ₹10 + GST |
Rural | ₹1,000 | ₹5 – ₹10 + GST |
BSBD Account | ₹0 (No MAB Required) | No Penalty |
How to Open an SBI Savings Account?
Opening an SBI savings account is quick and convenient—whether you prefer doing it online or by visiting a branch. With multiple account types available, including regular and zero balance options, SBI makes banking simple for everyone.
Option 1: Online SBI Account Opening (Via YONO App)
If you’re looking for a fully digital process, the SBI zero balance account opening online can be done through the YONO app. Here’s how:
- Download the YONO SBI app from Play Store or App Store
- Click on “New to SBI? Open Savings Account”
- Choose your account type – Regular or Zero Balance (BSBD)
- Enter your PAN and Aadhaar details
- Complete the KYC with OTP verification and photo upload
- Set up internet banking and get a virtual debit card instantly
That’s it! Your SBI account opening is done without visiting the branch.
Option 2: Visit the Nearest SBI Branch
Prefer the traditional way? Just walk into your nearest SBI branch with:
- Passport-size photo
- PAN card
- Aadhaar card (or other address proof)
Fill out the SBI bank account opening form, choose your savings account type, and submit the documents. The bank will open your account and issue a passbook and ATM card.
No matter which route you choose, your account will earn SBI saving account interest, currently at 2.70% per annum, credited quarterly. Make sure to maintain the SBI savings account minimum balance based on your location unless you’re using a zero-balance option.
With trusted service, great digital access, and secure banking, opening a savings account in SBI is a smart step toward managing your finances with ease.
SBI Saving Account Fees & Charges September 2025
SBI is often considered one of the best banks to open a savings account in India—thanks to its wide network, trusted name, and easy banking features. But like any bank, there are certain charges and fees you should know before opening a State Bank of India savings account.
Whether you’re planning to apply via branch or submit an online SBI saving account form, understanding the fees will help you manage your account smartly.
Service | Charges (Approx.) |
ATM Card Annual Fee | ₹125 – ₹300 + GST (based on card type) |
Cash Withdrawal at Branch | Free up to 3–4 transactions per month |
Cheque Book (25 leaves) | ₹75 + GST (after free quota) |
SMS Alerts | ₹15 per quarter |
Duplicate Passbook | ₹100 + GST |
Balance Inquiry at ATM | Free (limited usage for non-SBI ATMs) |
Account Closure (after 14 days) | ₹500 + GST (within 1 year) |
Insufficient Balance Penalty | ₹5–₹15 + GST/month (based on branch type) |
Even though SBI charges for some services, the bank still offers excellent value. With a saving account interest rate in SBI of 2.70% per annum and reliable digital access, it’s considered one of the best bank savings accounts for long-term customers.
Just remember, the minimum balance required in SBI savings account varies:
- ₹3,000 for metro areas
- ₹2,000 for semi-urban
- ₹1,000 for rural branches
If you want to avoid this entirely, you can opt for a zero-balance savings account by choosing a BSBD option during your SBI saving account opening online.
The benefits of savings account in SBI don’t stop at interest. You also get mobile banking, ATM access, UPI, and government benefit transfers—all from one secure platform.
Whether you’re opening your first bank account or switching from another bank, SBI continues to stand as one of the best savings account options in India.
How To Convert Your Existing SBI Account To Saving Account?
If you’re tired of worrying about the SBI minimum balance every month, there’s a simple solution—convert your existing SBI savings account to a zero balance account. This can help you avoid penalties while still enjoying basic banking services.
Many people open a regular SBI SB account but later find it difficult to maintain the required balance. In metro cities, the SBI SB account minimum balance is ₹3,000, which can be a burden for students, homemakers, or low-income users. But don’t worry—you don’t need to close your account. You can simply switch it to a Basic Savings Bank Deposit (BSBD) account.
Steps to Convert Your SBI Account to Zero Balance
- Visit the Nearest SBI Branch: Go to the branch where your account is held. Carry your Aadhaar and PAN card for verification.
- Submit a Request Letter: Ask the bank staff for a form or write a simple request letter stating that you want to convert your regular SBI SB account opening to a BSBD account.
- Submit KYC Documents (if required): If your account is not fully KYC-compliant, the bank may ask you to re-submit identity and address proof.
- Wait for Approval: Once submitted, the branch will process your request. Your account will become a zero-balance account within a few working days.
Note: You may lose access to some premium features (like unlimited ATM usage or cheque book facility), but basic services like ATM card, passbook, UPI, and net banking will still be available.
With this switch, there’s no SBI account opening minimum balance, no penalty for non-maintenance, and you’ll still earn the SBI account interest rate of 2.70% per annum.
Whether you opened your account via branch or through onlinesbi saving account service, you can request this change anytime. SBI is considered one of the best banks in India to open an account, and it offers both flexibility and support for all income levels.
So if you’re looking for the best banks in India to open an account without worrying about balance limits, this simple change might just be the answer.
Benefits Of SBI Saving Account September 2025
Opening a State Bank of India savings account is more than just a basic banking step—it’s a smart financial move. Whether you’re starting fresh or switching from another bank, SBI offers features and reliability that make it one of the best bank savings account options in the country.
1. Wide Range of Account Options
SBI offers different types of accounts to meet everyone’s needs. You can choose a regular account or go for an SBI zero balance account like the BSBD, which doesn’t require you to maintain any minimum balance.
2. Easy Account Opening – Online & Offline
With the SBI savings account opening online process available through the YONO app, you can open an account from the comfort of your home. No paperwork, no long queues. Prefer visiting a branch? The SBI saving account opening process is just as smooth offline.
3. Attractive Interest Rates
You earn interest on savings account in SBI based on your daily balance. The current savings account interest rate SBI offers is 2.70% per annum, credited quarterly. It may not be the highest, but it’s stable and secure—especially for regular savers.
4. Low Minimum Balance Requirement
Worried about maintaining a balance? The State Bank of India savings account minimum balance depends on where your account is opened:
- ₹3,000 for metro cities
- ₹2,000 for semi-urban areas
- ₹1,000 for rural branches
Or just opt for a zero balance account and skip the stress entirely.
5. Nationwide Branch and ATM Network
SBI has the largest banking network in India. With thousands of branches and ATMs across the country, accessing your money is easy no matter where you are.
6. Digital Banking Made Simple
The YONO app gives you full access to your account—view balances, pay bills, transfer funds, and even invest. Whether you’re checking the SBI interest rate on savings account or downloading account statements, it’s all just a few taps away.
7. Safe, Secure & Trusted
Being a government-owned bank, SBI is known for stability. Your money is safe, and you get transparent service with no hidden charges.
If you’re looking for a reliable place to park your money, earn steady SBI interest rates on savings account, and enjoy seamless banking, an SBI savings account is definitely worth considering.
September 2025 SBI Savings Account Interest Rate Per Month
If you’re looking for a safe and simple way to grow your money, opening a savings account with SBI is a smart move. The State Bank savings account interest rate is currently 2.70% per annum, which is calculated daily and credited every quarter—but if you break it down, here’s how it works monthly.
Let’s say you maintain ₹1,00,000 in your account. At a saving account interest rate SBI of 2.70% annually, your monthly interest would be approximately ₹225 before tax. While the returns are not as high as fixed deposits or mutual funds, the benefits of savings account in SBI lie in its safety, liquidity, and ease of access.
What makes SBI stand out is that it combines steady interest with convenience. It’s one of the best bank savings accounts for people who want peace of mind, especially when it comes to money security and branch access.
Whether you choose a regular or zero-balance account, SBI offers reliable banking. Plus, with a minimum balance for savings account in SBI starting from just ₹1,000 (for rural branches), it’s affordable for most people. So, if you’re searching for the best savings account India has to offer, SBI is definitely worth considering for its trust, access, and long-term stability.
2025 SBI Savings Account Interest Rate Per Month on ₹1 Lakh Balance
If you keep ₹1,00,000 in your savings account SBI, you’re probably wondering how much interest you’ll earn each month. Currently, the SBI savings account interest rate per month is based on an annual rate of 2.70% (as of 2025). This interest is calculated on the daily closing balance and credited every quarter—but let’s break it down monthly for clarity.
How Much Interest Will You Earn on ₹1 Lakh?
At 2.70% per annum, here’s a rough monthly estimate:
- Interest per year on ₹1,00,000 = ₹2,700
- Interest per month (approx) = ₹225
This amount may vary slightly each month, depending on your daily balance and how long the money stays in the account.
Why It’s Still a Good Option
Even though the monthly returns might seem modest, the advantages of SBI bank go beyond just interest. Here’s why many still choose SBI:
- Security & Trust: SBI is government-owned and considered one of the safest banks in India
- Digital Access: You can complete the online SBI saving account opening form through the YONO app without visiting a branch
- Convenient Branch Network: Thousands of branches and ATMs across India
- Flexible Minimum Balance: The SBI bank minimum balance for savings account varies by location:
- ₹3,000 in metro cities
- ₹2,000 in semi-urban areas
- ₹1,000 in rural areas
If maintaining balance is difficult, you can switch to a BSBD (zero balance) account. Just talk to your branch or update it online.
With a blend of stability, convenience, and easy access, an SBI account is a great way to start saving—even if your goal is small monthly growth. It’s simple, safe, and suited for anyone looking for dependable banking.
SBI Savings Account Minimum Balance and Charges
Before you complete your SBI bank account opening, it’s important to understand the minimum balance rules and the charges that come with it. Whether you’re opening your account online through the SBI zero balance account opening online option or visiting the branch, these details help you avoid penalties later.
1. Minimum Balance Requirement (Based on Location)
SBI requires you to maintain a Monthly Average Balance (MAB) depending on where your branch is located:
Location | Monthly Average Balance |
Metro & Urban | ₹3,000 |
Semi-Urban | ₹2,000 |
Rural | ₹1,000 |
Failing to maintain this balance can lead to monthly penalty charges ranging from ₹5 to ₹15 + GST, based on how much your balance falls short.
Charges for Not Maintaining Minimum Balance
Shortfall in Balance | Penalty |
Less than 50% | ₹10 + GST |
50% to 75% | ₹12 + GST |
More than 75% | ₹15 + GST |
To avoid these charges completely, you can opt for the Basic Savings Bank Deposit (BSBD) account—also known as the SBI zero balance account—which comes with no minimum balance requirement.
Should You Still Open an SBI Savings Account?
Absolutely. The savings account interest rate SBI offers might be modest—currently 2.70% per annum—but the SBI interest rates on savings account are reliable and credited quarterly. The interest on savings account in SBI is calculated daily, which means you earn even if you keep your money parked for a short while.
The SBI bank account opening process is simple and available both online and offline. With services like UPI, internet banking, debit cards, and the YONO app, SBI offers great value even with its basic account.
SBI Savings Account Interest Credit Date – When Do You Get Paid?
If you have an SBI savings account or plan to open one, you might wonder: “When does SBI credit the interest?” It’s a common question—and an important one too!
The interest on SBI savings accounts is calculated daily based on your end-of-day balance. However, the credited amount doesn’t appear in your account every month. Instead, SBI credits the savings account interest quarterly, which means you receive it four times a year—at the end of each quarter.
So, your interest is usually credited around these times:
- March 31
- June 30
- September 30
- December 31
This process is the same whether you opened your account in a branch or used the online SBI saving account form through the YONO app or the official website. No matter how you apply, once your SBI SB account opening is complete, the system automatically calculates and credits your interest quarterly.
Why SBI Is Still a Great Option?
Even though the interest is paid quarterly, SBI remains one of the best banks to open a savings account in India. Here’s why:
- You can complete your SBI saving account opening online easily through YONO
- It has a strong reputation and wide network
- You get secure digital access through OnlineSBI saving account services
- SBI’s SB account minimum balance is flexible (₹3,000 for metro, ₹2,000 for semi-urban, ₹1,000 for rural)
If you’re looking for the best banks in India to open account that’s safe, convenient, and well-connected—SBI is a trusted choice. And if you want to avoid balance stress altogether, you can go for their zero-balance option.
How to apply for SBI zero balance account opening online?
You can apply for an SBI zero balance savings account online through the YONO SBI app or the official SBI website without visiting the branch.
What is the savings account interest rate in SBI?
The interest rate of SBI savings account currently ranges from 2.70% to 3%, depending on the daily balance, as per SBI savings account interest rates.
How to apply for a new SBI savings account online?
Visit the SBI website or use the YONO SBI account opening online option to quickly apply for a new savings account from your phone or desktop.
What is the minimum balance in SBI savings account?
The minimum balance for SBI savings account depends on the account type and location (urban/rural); it can go from ₹0 to ₹3,000.
Can I open a State Bank of India savings account using YONO?
Yes, the YONO SBI account opening online process lets you open a digital savings account in minutes with paperless KYC.
What are the charges for maintaining an SBI savings account?
SBI saving account charges include ATM fees, non-maintenance penalties, SMS alerts, and transaction limits depending on the account type.
How do I open an SBI online account?
You can open an SBI online account by filling out the application form on the SBI portal or via YONO with e-KYC.
What is the account limit for an SBI savings account?
The SBI saving account limit varies by account type—basic savings accounts may have monthly transaction or balance caps.
Are there any account opening charges in SBI?
There are usually no SBI account opening charges for basic savings accounts, but premium accounts may involve initial deposit or documentation fees.
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