State Bank of India (SBI) has changed the service charge for withdrawing money from its ATMs and bank branches.
SB I
The country’s largest bank State Bank of India (SBI) has changed the service charge for withdrawing money from its ATMs and bank branches. According to the SBI website, the new charges will be applicable on checkbook, transfer and other non-financial transactions. The new service charge will be applicable to SBI Basic Savings Bank Deposit (BSBD) account holders with effect from July 1, 2021.
Explain that SBI BSBD account, which is known as zero balance savings account, is mainly meant for the poor sections of the society. The bank pays interest on zero balance accounts just like regular savings bank accounts.
>> Cash Withdrawal from SBI Branch
SBI gives BSBD account holders the facility of four free cash withdrawal transactions. This includes transactions done at a branch as well as a bank ATM. After the free limit is exhausted, the bank charges the customers. The bank charges Rs 15 plus GST on cash withdrawals from branches or ATMs.
>> Cash Withdrawal from SBI ATM
According to SBI’s website, BSBD account holders have the facility of four free cash withdrawals every month including ATMs and bank branches. The bank will charge Rs 15 plus GST for every transaction after the free limit.
>> Checkbook Charges
SBI will give 10 checks free of cost to BSBD account holders in a financial year. After that Rs 40 plus GST will be charged for a check book containing 10 checks. Rs 75 plus GST will be charged for a check book with 25 checks. For emergency checkbook, Rs 50 plus GST has to be paid for 10 leaves. However, senior citizens will be exempted from the new service charge on chequebooks.
There will be no charge for non-financial transactions by BSBD account holders in SBI and non-SBI bank branches. Lenders said that transfer transactions at branches and alternate channels will also be free for these account holders.
Change rules for withdrawing cash from SBI
Due to Corona virus infection, SBI has increased the cash withdrawal limit, giving relief to its customers. Customers can withdraw up to Rs 25,000 from their savings account through the withdrawal form by going to another branch.
Now up to Rs 1 lakh can be withdrawn from other branches through cheque. Third party (to whom the cheque is issued) cash withdrawal limit has been increased to Rs 50,000.
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