SBI ATM Withdrawals, Cheque Book And Other Services To Attract Charges From July 1 - Know Details

From July 1, 2021, SBI is going to revise service charges. Read on to know the charges for an ATM withdrawal from the branch, and the service charge for the cheque book.

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If you are an SBI customer, then this news may interest you. SBI will make some major changes in the rules of banking services from July 1, 2021.

Under these new rules of SBI, customers can now withdraw money up to 4 times from ATMs and bank branches without any service charge. Thereafter, every withdrawal from an ATM or branch will attract a service charge. Apart from this, chequebooks will also be charged from July 1. 

These new rules of SBI are for customers with a Basic Savings Bank Deposit (BSBD) account. BSBD is also called a zero balance savings account and the customer does not need to maintain a minimum or maximum balance. To encourage the poor sections of the country to save, the facility of opening this account without any fee has been provided. 

What are the new rules for withdrawing money from ATMs and branches?  

According to SBI, customers with a BSBD account will now be able to withdraw money from branches and ATMs only up to four times without any service charge. After this, if a customer withdraws money from an ATM or branch, then he will have to pay Rs 15 plus GST for every transaction as a service charge. This rule will come into effect from July 1, 2021. The same rule will be applicable for withdrawing money from any ATM other than SBI. 

Here are the new rules regarding the chequebook in SBI. 

SBI will revise the rules limiting the use of chequebooks for its customers with a BSBD account from July 1, 2021. In 1 financial year, these customers will be able to use only a 10-page chequebook without any service charge. For a 10-page chequebook, these customers will have to pay Rs 40 plus GST. On the other hand, a chequebook of 25 pages, will cost the customer Rs 75 plus GST. If a customer wants to purchase a 10-page chequebook in an emergency, the customer will have to pay Rs 50 plus GST. However, senior citizens are exempted from these new rules.