Though SBI is the oldest bank in India, it does not leave any stone unturned when it comes to providing modern-day services to its customers. It provides some exceptional features that are not provided by other modern banks of the time. Maintaining a monthly Average Balance is one of the features that SBI Banks embed in the digital banking sector. Later, many banks also started to embed it.
Like other banks, SBI relies on the monthly average balance (MAB) concept. The monthly average balance is the amount that SBI account holders need to maintain every month. It helps to avoid inactive accounts and prevents account holders from incurring charges/penalties from the bank for maintaining a low monthly average balance.
All the account holders of the SBI Bank can easily check their MAB online. Just follow the process discussed below to check the MAB (Monthly Average Balance) of the SBI account.
Process of checking the monthly average balance in SBI: –
- Open the official SBI internet banking page. Alternatively, click https://www.onlinesbi.sbi/
- Look for the personal banking session from the two sections on the screen. You will find two ways to log into the Internet banking facility there. Click on the ‘ Login ‘ tab instead of pressing the ‘YONO’ tab.
- We will see a tab on the new page, ‘Continue to Login’. Click it.
- Enter your Internet banking username, password, and the captcha code.
- After logging in, you will see the first column as ‘Transaction Accounts’. Under this section, you will see a hyperlink titled ‘Click here to view the last 10 transactions. Click on that.
- Now, you will see the information related to your account in short. In the details, you will find an option for Monthly Average Balance. In front of it, you will find the hyperlinked text ‘Click Here for MAB’. Click on that.
- A new page will appear on the screen, giving you information about your monthly average balance.
Note: The monthly average balance that an SBI account holder needs to maintain is INR 3,000. You must maintain this average balance within 30 days.
