SBI Alert: State Bank of India to revise rules for ATM cash withdrawal, chequebook charges from THIS date

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SBI Customer Alert: India's largest lender, State Bank of India is all set to revise the service charges for SBI Basic Savings Bank Deposit (BSBD) account holders. The new charges would apply to ATM withdrawals, chequebook, transfer, and other non-financial transactions. The new charges will come into effect from July 1, 2021.

SBI Basic Savings Bank Account can be opened by any individual providing valid KYC documents. The minimum balance required in the SBI BSBD account is nil while there is no limit on the maximum amount one can keep in this account. The BSBD account holders are provided also with a Basic Rupay ATM-cum-debit card.

Cash withdrawal at SBI ATMs:

The service charges will be recovered beyond four free cash withdrawals, including withdrawal at the ATM and Branch. The new service charge beyond four free withdrawals will be Rs 15 plus GST per withdrawal at all SBI ATMs. The service charge levied for non-SBI bank ATMs is also Rs 15 plus GST.

Cash Withdrawal At SBI branches:

The SBI will recover charges beyond four free cash withdrawal charges, including at an SBI branch and ATM. This means BSBD account holders of BSI will have to pay a service charge for making more than four free cash withdrawals in a month. The new charge to be recovered from customers would be Rs 15 plus GST per cash withdrawal transaction from an SBI ATM or a SBI branch.

Chequebook charges for SBI's savings account holders:

The SBI would now provide 10 cheque leaves free in a financial year to BSBD account holders. After that, the bank will charge Rs 40 plus GST for a 10 leaf cheque book, and Rs 75 plus GST would be charged for a 25 leaf cheque book.

For Emergency Cheque Book, Rs 50 plus GST would be charged for 10 leaves. Senior citizens are exempted from the new service charge on cheque book. There would not be any charges on non-financial transactions by BSBD account holders at SBI and non-SBI bank branches.

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