A person holding a small savings bank account is allowed a maximum balance of Rs 50,000. State Bank of India (SBI) offers several special types of savings bank accounts.

These include the savings plus bank account, basic savings bank account, small savings account and savings account for minors.

While all these bank accounts offer an interest rate of 3.5 per cent for balance up to Rs 1 crore, just like SBI's regular savings bank account, features such as eligibility criteria, minimum balance required, ATM cards and mode of operation vary, according to SBI's website - sbi.co.in.

For example, an individual holding a regular SBI savings bank account in a metro bank branch is required to maintain a monthly average balance of Rs 3,000.

On the other hand, someone holding a basic savings bank account is not required to maintain any such balance.

A person holding a small savings bank account is allowed a maximum balance of Rs 50,000, according to the bank's website. Existing Charges p.m.Proposed Charges p.m.Metro Urban (AMB Rs.

3000/-)  Shortfall < = 50%Rs.

30/- +GSTRs.

10/- +GSTShortfall > 50 – 75%Rs.

40/- +GSTRs.

12/- +GSTShortfall > 75%Rs.

50/- +GSTRs.

15/- +GSTSemi-Urban (AMB Rs.

2000/-)Shortfall < = 50%Rs.

20/- +GSTRs 7.50 +GSTShortfall > 50 – 75%Rs.

30/- +GSTRs 10.00 +GSTShortfall > 75%Rs.

40/- +GSTRs.12.00+GSTRural AMB (Rs 1,000/-)Shortfall < = 50%Rs.

20/- +GSTRs 5.00 +GSTShortfall > 50 – 75%Rs.

30/- +GSTRs.

7.50 +GSTShortfall > 75%Rs.

40/- +GSTRs 10.00 +GST(Source: sbi.co.in)SBI offers an interest rate of 3.5 per cent per annum on balance up to Rs 1 crore in its savings bank account, and 4 per cent in case of balance above Rs 1 crore, according to the bank's website.

SBI savings bank account comes with certain minimum balance or 'monthly average balance' (MAB) requirements.

That means an account holder is required to maintain a certain minimum average balance in the bank account.

Failing to meet these requirements attracts penalty depending upon the type of branch and the degree of shortfall.SBI Savings Plus Bank AccountThis is a special type of savings bank account that is linked to MODS or Multi-Option Deposit Scheme, an 'auto sweep' facility.

In MODS, surplus fund above a threshold limit from the savings bank account is transferred automatically to term deposits - or fixed deposits (FD) - opened in multiples of Rs.

1,000.

The minimum threshold limit - surplus balance above which is converted into a term deposit or FD - is Rs 35,000, according to SBI.

The minimum amount that is transferred to an FD is Rs 10,000 and above in multiples of Rs 1,000, according to the SBI website."Any surplus funds retaining a minimum of Rs.

25000/- in Savings Bank (to be set up by the customer) will be transferred as Term Deposit with a minimum of Rs.

10,000/- and in multiple of Rs.

1,000/- at one instance," SBI explained.SBI Basic Savings Bank AccountSBI's basic savings bank account is a type of savings bank account that is free from any minimum balance requirement.

That means a customer holding a basic savings bank account with SBI is not required to maintain a certain average balance every month.

However, the customer cannot have any other savings bank account in addition to a basic savings bank deposit account.

"If the customer already has a Savings Bank Account, the same will have to be closed within 30 days of opening a Basic Savings Bank Deposit Account," SBI states on its website.SBI allows customers holding a basic savings bank account with it a maximum of four withdrawals in a month "including ATM withdrawals at own and other Bank's ATMs and transactions through other mode including RTGS/NEFT/Clearing/Branch cash withdrawal/transfer/internet debits/standing instructions/EMI, etc.".SBI Small Savings AccountThose holding a small savings bank account with SBI are also not required to meet the bank's monthly average balance requirements.

However, the small savings account allows a maximum balance of Rs 50,000, according to the SBI website.

SBI allows Rs 10,000 as the maximum aggregate of all withdrawals and transfers in a month in its small savings account.

Additionally, a limit of Rs 1 lakh has been set as the maximum allowed aggregate of all credits in a financial year.

"If the balance exceeds Rs.

50,000/- or total credit in the account exceeds Rs.

1,00,000/- in a year, no further transaction will be permitted until the full KYC (know your customer) procedure is completed," according to the SBI website.

Withdrawal limits are same as applicable to the basic savings bank account.SBI Savings Accounts for MinorsSBI offers two kinds of bank accounts for minors: 'Pehla Kadam' (first step) and 'Pehli Udaan' (first flight).

Both types of savings bank accounts come with features such as internet banking and mobile banking.

While SBI hasn't set any monthly average balance requirement for these savings accounts, both accounts have a maximum balance limit of Rs 10 lakh, according to the bank's website.