New Delhi: State Bank of India (SBI) said that it will levy charges for cash withdrawal beyond four free transactions in a month from customers holding basic savings bank deposit (BSBD) accounts.
The bank also said charges will be levied on chequebook transactions beyond 10 leaves in a year.
SBI will limit cheque leaf usages from its BSBD account holders as well. The new SBI cheque book charges effective from today. Customers will be allowed to use only 10 cheque leaf with no charges.
For cheque leaf beyond this limit will be subject to charges going to become effective from 1st July 2021.
About new rules and charges
-10 leaf cheque Book at Rs 40 plus GST
-25 leaf cheque Book at Rs 75 plus GST
-Emergency Cheque Book: Rs 50 plus GST for 10 leaves or part thereof.
However, these new charges will not be applicable to senior citizens.
According to State Bank of India (SBI) official website, only four free cash withdrawals will be available — including ATMs and bank branches every month for BSBD account holders.
The bank will apply a fee of Rs 15 plus GST for every transaction that crosses the free limit. The service charge will be applicable at the home branches and ATMs and non-SBI ATMs which means BSBD account holders of BSI will have to pay a service charge for making more than four free cash withdrawals in a month.
SBI will not charge for any non-financial transactions by BBSD account holders at home and non-home branches. For BSBD account holders, transfer transactions will also be free at branches and alternate channels
At non-home branches, the cash withdrawal limit rose for all. The bank stated, “To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form.”
The withdrawal limit at SBI branches was hiked to Rs 1 lakh per day with the help of a cheque. While, the cash withdrawal has been increased to Rs 25,000 per day, using a withdrawal form along with a savings bank passbook.
Besides that, the third-party cash withdrawals have been fixed at Rs 50,000 per month (only using cheques).
