SBI Account Holders: ATM Cash Withdrawal, Chequebook Charges Revised For These Customers
The bank will recover charges for Basic Savings Bank Deposit beyond four free cash withdrawal transaction including at ATM and branch. The service charge beyond the limit will be Rs 15 plus GST at all SBI and non-SBI ATMs.
New Delhi: Those who hold Basic Savings Bank Deposit (BSBD) account of the State Bank of India, then it is important to know abou the new charges. The country’s largest public lender has informed about the new charges to be applicable at ATM withdrawals, chequebook, transfer and other non-financial transactions.
The new service charges will come into effect from 1 July 2021. It is to be noted that bank will start charging beyond four free cash withdrawal transactions. This includes the transactions done at a branch as well as bank ATM. The new charge is Rs15 plus GST per cash withdrawal transaction at Branch Channel/ATM. Also Read:
Cash withdrawal At SBI ATMs
According to the update on SBI's website, the bank will recover charges beyond 4 free cash withdrawal transaction (including at ATM and branch). The service charge beyond the limit will be Rs 15 plus GST at all SBI and non-SBI ATMs.
Chequebook charges
The bank will provide 10 cheque leaves free in a financial year to BSBD account holders.
a) However, the 10 leaf cheque Book will be issued at Rs40 plus GST
b) For 25 leaf cheque Book it will be cost Rs75 plus GST
c) While Emergency Cheque Book will cost Rs50 plus GST for 10 leaves or part thereof.
It is to be noted that senior citizens are exempted from the new service charge on cheque book.
Non-financial transactions
Note that no charges will be levied on non-financial transactions by BSBD account holders at SBI and non-SBI bank branches.
Transfer transactions
Transfer transactions will also be free at Branch and Alternate Channels for BSBD account holders.
What is an SBI BSBD account?
SBI BSBD account, is known as zero balance savings account and aimed for poorer sections of society with a view to encourage them to start saving without any burden of charges or fees. An account holder gets the same interest rate on zero balance accounts similar to regular savings bank accounts.
For the SBI zero balance savings account, a basic RuPay ATM-cum-debit card will be issued free of cost and no annual maintenance charge will be applied. The bank does not levy any charge on activation of inoperative accounts. No account closure charges are levied either.
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