SBI Current Account

SBI Current Account Types	Primary Features
Regular Current Account	Free cash withdrawal from home branch Free 50 multi city cheque leaves per month
Normal Current Account	Free original monthly statement of account First 50 cheque leaves free in a financial year
Gold Current Account	Free RTGS and NEFT Free 50 Demand Drafts per month
Diamond Current Account	Unlimited and free demand drafts Free cash deposit, up to Rs. 1 crore per month
Platinum Current Account	Unlimited + Free multicity cheques Free and unlimited cash withdrawal from home branch
Surbhi Current Account	Free monthly statement of current account Free over draft facility + sweep facility available
Power POS	Free multicity 100 cheques in a financial year Free cash deposit (up to Rs 25,000 per day)
Power Gain Current Account	Free monthly statement of current account 200 cheques free per month
Power Pack Current Account	Avail 1000 free cheques per month Cash deposit free up to Rs 60 lakh per month
Power Jyoti Current Account	Zero cash handling charges Access to MIS in desired format
Power Jyoti PUL Current Account	Facility of collection through INB Get access to MIS in desired format

SBI provides customer centric current account product variants catering to the needs of its customers. SBI current account minimum balance requirement is different with every variant. Given below is the detailed explanation of the current account variants offered by SBI.

The Regular Current Account is ideally meant for professionals, small businessmen, traders etc. requiring a current account with all the banking facilities at minimal cost.

Primary Features	Charges
Monthly Average Balance (MAB)	Rs 10,000
Monthly Statement	Free (first / original)
Cash deposit limit	Free up to Rs.5 lakh per month
Cash withdrawal (from home branch)	Unlimited and Free
Cash withdrawal (from non-home branch)	Rs.1 lakh per day (self only)
NEFT & RTGS	Unlimited & free through internet or mobile banking
MAB non-maintenance charges	Rs.500 + GST (per month)
Cheque	50 multicity cheque leaves free in a month
Demand Draft	Up to Rs.5000 = Rs.25
Current Account closing charges (after 14 days)	Rs.1000 + GST

Normal Current Account provides the basic banking facilities to all the customers at nominal cost. The account holders get free access to most secure and fastest corporate internet banking services.

Primary Features	Charges
Monthly Average Balance (MAB)	Rs.10,000
Monthly Statement	Free (first or original)
Cash deposit limit	Free up to Rs.25,000 per day
Cash withdrawal (from home branch)	Free
Cash withdrawal (from non-home branch)	Free for limit up to Rs.50,000
NEFT & RTGS  (through internet or mobile banking)	NEFT: Rs.5 for transactions above Rs.2 lakh RTGS: Rs.10 for transactions above Rs.5 lakh
MAB non-maintenance charges	Rs.500 + GST (per month)
Cheque leaves	First 50 cheque leaves free in a financial year
Demand Draft	Up to Rs.5000 = Rs.25
Current Account closing charges (after 14 days)	Rs.1000 + GST

The Gold Current Account is suitable for professionals, premium businessmen, traders etc. who are majorly looking for expanding their operations and carrying out bulk transactions. It helps in reducing transaction cost significantly.

Primary Features	Charges
Monthly Average Balance (MAB)	Rs.1 lakh
Monthly Statement	Free
Cash deposit limit	Free up to Rs.25 lakh per month
Cash withdrawal (from home branch)	Unlimited + Free
Cash withdrawal (from non-home branch)	Maximum Rs.1 lakh per day (self only)
NEFT & RTGS  (through internet / mobile banking or home branch)	Free
MAB non-maintenance charges	Rs.2000 + GST (per month)
Cheque leaves	300 multicity cheque leaves free per month
Demand Draft	50 demand draft free per month
Current Account closing charges (after 14 days)	Rs.1000 + GST

Diamond Current Account is most suitable for elite businessmen, large traders, top professionals and more. It is meant for carrying out bulk transactions conveniently and processing a large number of payments.

Primary Features	Charges
Monthly Average Balance (MAB)	Rs.5 lakh
Monthly Statement	Free (first / original)
Cash deposit limit	Free up to Rs.1 crore per month
Cash withdrawal (from home branch)	Free and unlimited
Cash withdrawal (from non-home branch)	Rs.1 lakh per day (self only)
NEFT & RTGS  (through internet / mobile banking or home branch)	Free
MAB non-maintenance charges	If MAB < Rs.2.5 lakh = Rs.4000 + GST (per month) If MAB > Rs.2.5 lakh = Rs.2000 + GST (per month)
Cheque leaves	Free 700 multicity cheque leaves per month
Demand Draft	Free
Current Account closing charges (after 14 days)	Rs.1000 + GST

Platinum Current Account is ideal for customers who intend to have the best of products for their business. The account is efficient in handling large value transactions and bulk payments. This account offers all the major banking services for free. 

Primary Features	Charges
Monthly Average Balance (MAB)	Rs.10 lakh
Monthly Statement	Free (first / original)
Cash deposit limit	Unlimited
Cash withdrawal (from home branch)	Unlimited and Free
Cash withdrawal (from non-home branch)	Rs.2 lakh per day
NEFT & RTGS  (through internet / mobile banking or home branch)	Unlimited + Free
MAB non-maintenance charges	If MAB < Rs.5 lakh = Rs.8000 + GST (per month) If MAB > Rs.5 lakh= Rs.4000 + GST (per month)
Cheque leaves	Get unlimited free multicity cheque leaves
Demand Draft	Unlimited and Free
Current Account closing charges (after 14 days)	Rs.1000 + GST

Surbhi Current Account provides sweep facility as a value added service to its customers adhering to liquidity with better returns. The account offers a scheme with sweep and reverse sweep option to CLTD (Corporate Liquid Term Deposits).

Primary Features	Charges
Monthly Average Balance (MAB)	Rs.10,000
Monthly Statement	Free (first or original)
Cash deposit limit	Free up to Rs.25,000 per day
Cash withdrawal (from home branch)	Free
Cash withdrawal (from non-home branch)	Free up to a maximum of Rs.50,000
NEFT & RTGS (through internet / mobile banking)	NEFT: Rs.5 for transactions above Rs.2 lakh RTGS: Rs.10 for transactions above Rs.5 lakh
MAB non-maintenance charges	Rs.500 + GST (per month)
Cheque leaves	First 50 multicity cheque leaves free in a financial year
Demand Draft	Up to Rs.5000 = Rs.25
Current Account closing charges (after 14 days)	Rs.1000 + GST

This current account variant is an exclusive one for customers availing the POS facility. The Power POS Current Account can be opened with zero balance. Also, the account provides overdraft facility (available up to Rs.5 lakh) to the customers.

Primary Features	Charges
Monthly Average Balance (MAB)	Rs.5000
Monthly Statement	Free (first / original)
Cash deposit limit	Free up to Rs.25,000 per day
Cash withdrawal (from home branch)	Free
Cash withdrawal (from non-home branch)	Free up to Rs.50,000
NEFT & RTGS  (through internet / mobile banking)	NEFT: Rs.5 for transactions above Rs.2 lakh RTGS: Rs.10 + GST for transactions above Rs.5 lakh
MAB non-maintenance charges	Rs.500 + GST (per month)
Cheque leaves	Get 100 multicity cheque leaves for free
Demand Draft	Up to Rs.5000 = Rs.25
Current Account closing charges (after 14 days)	Rs.1000 + GST

The Power Gain Current Account is meant to be ideal for all premium businessmen, professionals, traders etc. The account provides its customers free access to the securest, safest and fastest corporate internet banking.

Primary Features	Charges
Monthly Average Balance (MAB)	Rs.2 lakh
Monthly Statement	Free
Cash deposit limit	Free up to Rs.15 lakh per month
Cash withdrawal (from home branch)	Free
Cash withdrawal (from non-home branch)	Free up to Rs.50,000
NEFT & RTGS  (through internet / mobile banking)	NEFT: Rs.5 for transactions above Rs.2 lakh RTGS: Rs.10 + GST for transactions above Rs.5 lakh
MAB non-maintenance charges	Rs.1500 + GST (per month)
Cheque leaves	200 mutlicity cheque leaves free per month
Demand Draft	Up to Rs.5000= Rs.25
Current Account closing charges (after 14 days)	Rs.1000 + GST

Power Pack Current Account is best suited for customers of all segments with POS facility. The account is ideal for processing large number of transactions and bulk payment collections. The users get free premium business debit card with withdrawal limit of Rs.2 lakh per day.

Primary Features	Charges
Monthly Average Balance (MAB)	Rs.5 lakh
Monthly Statement	Free (first / original)
Cash deposit limit	Free up to Rs.60 lakh per month
Cash withdrawal (from home branch)	Free
Cash withdrawal (from non-home branch)	Free up to Rs.50,000
NEFT & RTGS  (through internet / mobile banking or branch)	Free
MAB non-maintenance charges	Rs.2500 + GST (per month)
Cheque leaves	Free
Demand Draft	Up to Rs.5000 = Rs.25
Current Account closing charges (after 14 days)	Rs.1000 + GST

Power Jyoti Current Account is an exclusive account meant primarily for the purpose of collection of funds at all branches of SBI alongwith the generation of MIS. The account is most suitable for institutions, government bodies, firms etc. for collection of funds, fees etc.

Primary Features	Charges
Monthly Average Balance (MAB)	Rs.50,000
Transaction Charges	Rs.60 + GST (per transaction)
Monthly Statement	Free (first or original)
Cash withdrawal	Free (from home branch)
Facility of collection via INB	Not available
Cheque Book	Not available
MAB non-maintenance charges	Rs.1000 + GST
Current Account closing charges (after 14 days)	Rs.1000 + GST

This account variant is exclusively available for any institution desiring to collect funds via SBI’s core banking branches or internet banking with pre-uploaded data. The Power Jyoti PUL Current Account is most suitable for colleges, schools, universities and other government bodies, thereby helping in the collection of fees, fines etc. It is to be noted that detailed MIS is also generated in this variant.

Primary Features	Charges
Monthly Average Balance (MAB)	Rs.50,000
Transaction Charges	Rs.60 + GST (per transaction)
Facility of collection via INB	Available
Cheque Book	Not available
MAB non-maintenance charges	Rs.1000 + GST
Current Account closing charges (after 14 days)	Rs.1000 + GST

Account Type	Primary Features
	Monthly Average Balance (MAB)	Non-maintenance charges	Cash Deposit	Cash Withdrawal (non-home branch)
Regular Current Account	Rs.10,000	Rs.500 + GST (per month)	Free up to Rs.5 lakh per month	Rs.1 lakh per day (self only)
Normal Current Account	Rs.10,000	Rs.500 + GST (per month)	Free up to Rs.25,000 per day	Free for limit up to Rs.50,000
Gold Current Account	Rs.1 lakh	Rs.2000 + GST (per month)	Free up to Rs.25 lakh per month	Maximum Rs.1 lakh per day (self only)
Diamond Current Account	Rs.5 lakh	If MAB < Rs.2.5 lakh= Rs.4000 + GST (per month) If MAB > Rs.2.5 lakh= Rs.2000 + GST (per month)	Free up to Rs.1 crore per month	Rs.1 lakh per day (self only)
Platinum Current Account	Rs.10 lakh	If MAB < Rs.5 lakh= Rs.8000 + GST (per month) If MAB > Rs.5 lakh = Rs.4000 + GST (per month)	Unlimited	Rs.2 lakh per day
Surbhi Current Account	Rs.10,000	Rs.500 + GST (per month)	Free up to Rs.25,000 per day	Free up to a maximum of Rs.50,000
Power POS	Rs.5000	Rs.500 + GST (per month)	Free up to Rs.25,000 per day	Free up to Rs.50,000
Power Gain Current Account	Rs.2 lakh	Rs.1500 + GST (per month)	Free up to Rs.15 lakh per month	Free up to Rs.50,000
Power Pack Current Account	Rs.5 lakh	Rs.2500 + GST (per month)	Free up to Rs.60 lakh per month	Free up to Rs.50,000
Power Jyoti Current Account	Rs.50,000	Rs.1000 + GST	—	Free
Power Jyoti PUL Current Account	Rs.50,000	Rs.1000 + GST	—	Free

All individuals possessing acceptable KYC documents are eligible for opening a current account in SBI. Below given is the list of business entities (customers) who can open SBI current account:

• Sole Proprietorship Firm
• Partnership Firms
• Limited Companies
• Societies / Clubs / Associates
• Hindu Undivided Family (HUF)
• Unincorporated Association or Body of Individual
• Executors, Administrators and Liquidators
• Trust

Below mentioned is the list of documents one needs to submit at the time of opening current account with SBI.

Documents Required

KYC documents based on type of application Photograph

KYC documents for Individuals (Proof of Identity or Address)

Any one document towards proof or identity or address is required. Below mentioned is the list of documents acceptable as proof of address or identity:

For Individual Account

Passport Voter ID Card Driving License Aadhaar Card NREGA Card PAN Card

KYC Documents for Non-Individuals (Proof of name, address and activity of the concern)

For Accounts of Proprietary Concerns

Registration certificate Certificate or license issued by Municipal authorities Sales & Income tax returns CST or VAT certificate Certificate issued by Sales Tax or Service Tax authorities Importer Exporter Code ITR in the name of sole proprietor Utility Bills (water, electricity etc.)

*Any two of the above mentioned SBI Current Account opening documents are required at the time of form submission.

For Accounts of Partnership Firms

Registration certificate Partnership Deed A valid & official document in respect of person holding the power of attorney

For Accounts of Companies

Certificate of Incorporation Articles of Association & Memorandum Resolution from Board of Directors & Power of Attorney given to managers, officers or employees A valid & official document in respect of person holding the power of attorney

For Accounts of Trusts & Foundations

Registration Certificate Trust Deed A valid & official document in respect of person holding the power of attorney

For Accounts of Unincorporated Association or Body of Individuals

Resolution of the managing body Power to attorney granted to him A valid & official document in respect of person holding the power of attorney Valid information for establishing the legal existence of such association

Hindu Undivided Family (HUF)

Declaration from Karta Identification proof of Karta Hindu Family Letter signed by all adult coparceners Identity of adult coparceners

The customers intending to open a current account with SBI can do so by submitting information online and printing the SBI current account opening form and thereby visiting the nearest bank branch with the printed form and applicable KYC documents. Below listed is the detailed explanation of the steps required.

Step 1: Visit the official website of SBI and go to the ‘Customer Application Form’ section.

Step 2: Choose the prefered customer type (Partnership Firm, Proprietorship Firm or HUF).

Step 3: Fill the ‘Customer Information’ section and proceed further.

Step 4: Fill the ‘Account Information’ section and proceed further.

Step 5: After successful completion, an SMS will be sent to the applicant’s mobile number along with the ARN (Application Reference Number).

Step 6: the filled SBI Current Account opening online form and take a print out (SBI Current Account opening form download pdf available on website).

Step 7: Submit the printed form to the nearest bank branch along with the applicable KYC documents for SBI Online Current Account opening.

Q. What is the minimum balance in SBI Current Account?

A. The minimum balance requirement varies from one current account variant to another. For Regular Current Account is it Rs 10,000 while for Gold Current Account it is Rs 1 lakh.

Q. What are the benefits of SBI Current Account?

A. Get free cash deposit up to Rs 1 crore, free RTGS and NEFT collections and payments, free cash pickup, unlimited free DD and more.

Q. Is GST mandatory for opening Current Account?

A. No, there is no specific requirement of GST registration for opening Current Account.

Q. What happens if one doesn’t maintain minimum balance in SBI Current Account?

A. SBI levies penalty for non-maintenance of account balance. The charges vary from one account variant to another.

Q. Can an individual open a current account in SBI?

A. Yes, individuals can open a current account as long as they have proper government issued IDs and address proof.