Full Breakdown of SBI Current Account Upgrades: Features, Limits, and Charges (Regular to Rhodium)

For businesses scaling up, the State Bank of India (SBI) offers a clear upgrade path for Current Accounts via its YONO Business portal. The “Current Account Upgrade” option displays six distinct variants: Regular, Silver, Gold, Diamond, Platinum, and Rhodium, each with specific limits for cash deposits, withdrawals, and merchant services. This article provides a comprehensive breakdown of every option in the upgrade chart to help you choose the exact tier that matches your turnover.

1. Minimum Average Balance (MAB) & Cash Limits

The foundation of each variant is the Minimum Average Balance (MAB) you must maintain. Higher MAB unlocks significantly higher free cash deposit limits.

Key Takeaway: While the monthly deposit limit scales massively (up to ₹6 Crores for Rhodium), the daily non-home branch deposit limit remains static at ₹5 Lakh across all variants.

2. Withdrawal & Cheque Book Facilities

Liquidity access varies slightly by tier, particularly for non-home branch withdrawals and the number of free cheque leaves provided.

3. Merchant Acquiring Business (POS) Benefits

For retail businesses, this section is critical. Upgrading to Gold or higher drastically reduces the cost of accepting card payments.

POS Charges & Rentals

• POS Installation:
  • Regular: As per card rates.
  • Silver to Rhodium: Free.
• Monthly Service Charges:
  • Regular/Silver: As per card rates.
  • Gold to Rhodium: Free.
• POS Monthly Rental Charges:
  • Regular: As per card rates.
  • Silver: 50% concession (if ₹50,000 + txn/month per POS).
  • Gold: Free (if ₹2 Lakhs + txn/month per POS).
  • Diamond: Free (if ₹2 Lakhs + txn/month per POS).
  • Platinum: Free (if ₹2 Lakhs + txn/month per POS).
  • Rhodium: Free (if ₹2 Lakhs + txn/month per POS).

MDR (Merchant Discount Rate) & Terminal Counts

This determines the fee you pay per swipe and how many machines you can get at a discount.

4. Digital & Cash Management Product (CMP) Offerings

SBI incentivizes higher variants with deep discounts on digital collection and payment services (e-Collections, Bulk Payments, Liquidity Management).

• Regular / Silver / Gold: Charges are “As per card rates.”
• Diamond: 25% Discount on card rates.
• Platinum: 75% Discount on card rates.
• Rhodium: 100% Discount on card rates (Fully Free).

5. Remittance Services (NEFT / RTGS / DD)

Cost-saving features for businesses that make frequent vendor payments.

• NEFT / RTGS (Through Branch):
  • Regular / Silver: As per card rates.
  • Gold / Diamond / Platinum / Rhodium: Unlimited Free.
• Demand Drafts (Home Branch Only):
  • Regular: As per card rates.
  • Silver: 20 Drafts free/month.
  • Gold: 50 Drafts free/month.
  • Diamond / Platinum / Rhodium: Unlimited Free.

6. Non-Maintenance Penalties (MAB Charges)

If you fail to maintain the required monthly average balance, SBI levies a penalty. The penalties for higher tiers are complex and significant.

• Regular: ₹500 + GST per month.
• Silver: ₹1,000 + GST per month.
• Gold: ₹2,000 + GST per month.
• Diamond:
  • If MAB < ₹2,50,000: ₹4,000 + GST.
  • If MAB > ₹2,50,000: ₹2,000 + GST.
• Platinum:
  • If MAB < ₹5,00,000: ₹8,000 + GST.
  • If MAB > ₹5,00,000: ₹4,000 + GST.
• Rhodium:
  • If MAB < 50% (of ₹50L): ₹26,000 + GST.
  • If MAB > 50% (of ₹50L): ₹15,000 + GST.

The “Gold” variant (₹1 Lakh MAB) appears to be the “sweet spot” for most SMEs, offering unlimited free NEFT/RTGS, 300 free cheque leaves, and free POS rentals (subject to volume). However, for high-volume businesses, the Rhodium account offers an unbeatable 1.00% MDR and 100% waiver on CMP charges, provided you can maintain the ₹50 Lakh balance to avoid the steep ₹26,000 monthly penalty.

Tags: SBI Current Account Charges, SBI POS MDR Rates, SBI Rhodium Account, Business Banking Limits, YONO Business Upgrade, SBI CMP Charges, Current Account Non-Maintenance Penalty