There is very important news for the customers of State Bank of India. The bank is making changes in the service charges from July 1, 2021. This includes charges for SBI ATM, branch withdrawal and check book issuance.
New Delhi. If you are a customer of State Bank of India, then there is very important news for you. SBI is making changes in service charges from July 1, 2021, next month. This includes charges for SBI ATM, branch withdrawal and check book issuance. However, these changes are for Basic Savings Bank Deposits (BSBD) account holders. SBI’s new revised service charge for Basic Savings Account holders will be applicable from July 1, 2021. Know, how much will be charged for which service?
Withdrawal charge from SBI ATM-
The first four withdrawals from SBI ATMs will be free. The bank has increased the limit of free cash transactions to 4. That is, now if you withdraw money from State Bank of India ATM more than four times, then you will have to pay Rs 15 + GST per withdrawal transaction in a month. This service charge will be levied at all SBI and non-SBI ATMs.
Cash Withdrawal Charges from SBI Branch-
According to the information given on SBI’s website, along with ATM withdrawal, the bank has also increased the cash withdrawal limit from the branch to 4. That is, after the first four free withdrawals, there will be a charge on withdrawal from the bank branch. The new charge is ₹15 plus GST per cash withdrawal transaction at the branch/ATM.
check book charge
On opening a BSBD account, 10 checkbook pages will be given free of cost to the customer by the bank. This is a limit of one financial year, after which a separate fee will have to be deposited for the checkbook. If a customer takes a 10-page check book in addition to 10 free check books in a financial year, then Rs 40 plus GST will be charged. 75 pages plus GST will be charged for 25 pages. Under emergency service, Rs 50 plus GST will be charged for 10 pages. However, senior citizens are exempted from the new service charges on check books.
Non-financial transactions-
No charges will be levied on non-financial transactions by BSBD account holders in SBI and non-SBI bank branches.
Transfer transaction-
Transfer transactions at branch and alternate channels will also be free for BSBD account holders.
What is SBI BSBD Account?
SBI BSBD account, popularly known as zero balance savings account. This is mainly for the poor sections of the society, to encourage them to start saving without any charges. The bank offers the same interest rate on this account as on regular savings bank accounts.
