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

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.