There is big news for the customers of State Bank of India (SBI), the country’s largest bank. The bank has changed the fees levied for cash withdrawal and check book. From 1 July 2021, new service charges will be applicable on SBI Basic Savings Bank Deposit (BSBD) account holders. Cash withdrawal from ATMs, check books, transfers and other non-financial transactions will attract new charges. Know the complete details of the charges.
Cash withdrawal charges at bank branch
The bank will charge for withdrawing money after four free cash withdrawals. In other words, those account holders who withdraw more than four free cash in a month will be charged a service charge. After free (4) limit, customers will be charged Rs 15 + GST for every cash withdrawal transaction done at the branch / ATM.
Charge on cash withdrawal from SBI ATM
According to SBI, customers will be able to withdraw four free cash from ATMs and branches. After this, they will be charged a service fee on every transaction. The first four withdrawals at both SBI and non-SBI ATMs will be free, after which a service fee of Rs 15 + GST will be levied per withdrawal.
New chequebook charges
BSBD account holders will get 10 free chequebook from SBI every financial year. After that, for a ten leaf check book, it will be 40 rupees and GST. You have to pay 75 rupees and GST on 25 leaf check book. An emergency check book of 10 leaf or 5 leaf will be charged Rs 50 and GST. New service charge waived on check book for senior citizens. Service charges will not be levied on non-financial transactions by BSBD account holders in SBI and non-SBI bank branches.
How to open BSBD account
One can open SBI Basic Savings Bank account with valid KYC documents. The minimum balance required in an SBI BSBD account is zero. The maximum amount that can be kept in this account is unlimited. A basic RuPay ATM / co-debit card is also issued to BSBD account holders. Customers can withdraw money from this account by filling the form from the branch or from the ATM. There is no option to use check book in BSBD account.
Know the features of BSBD account
A BSBD account can be opened singly or jointly. If the customer has a Basic Savings Bank Deposit Account, he cannot have any other Savings Bank Account. If the applicant has a savings bank account, he should close the basic savings bank deposit account within 30 days of opening. You can make up to four free cash withdrawals in a month, including cash withdrawals from your and other bank’s ATMs, cash withdrawals from the branch and AEPS (Aadhaar Enabled Payment System) cash transactions. Funds can be obtained / credited for free through electronic payment platforms like NEFT / RTGS. There is no charge for reactivating the inactive account. There is no charge for closing the account.
