SBI Customers Will Pay Rs 15 For Using ATM, Rs 70 For Cheque Book (New Rules From This Date
State Bank of India is introducing new rules and charges for cash withdrawals from the banks of ATMs and bank branches.
The new rule will be implemented starting next month.
Read on to find out all the details about these new rules!
New Charges For SBI Customers: Pay Rs 15 For Using ATM, Rs 70 For Cheque Book
The new charges that the SBI will introduce will be applicable for Basic Savings Bank Deposit (BSBD) account holders. The SBI Basic Savings Bank Deposit account was introduced for the economically weaker sections so as to promote their savings habits. The account is a zero balance savings account, which means that there is no requirement for minimum balance for the account holders of these accounts. SBI also offers a basic Rupay ATM-cum-debit card to BSBD account holders. If you have valid KYC documents, you can open a BBSD account in SBI.
These charges are applicable to charges on ATM cash withdrawals, cheque books, and non-financial transactions.
The bank will now introduce a fee of Rs. 15 plus plus GST for every transaction that is beyond the free limit. These charges on cash withdrawals will be applicable at home branch and ATMs and non-SBI ATMs.
For a cheque book, these will be charges too:
- For 10 cheque leaves, the bank will charge Rs 40 plus GST.
- For 25 cheque leaves, the bank will charge Rs 75 plus GST.
- Emergency Cheque Book will cost Rs 50 plus GST for 10 leaves.
This will be in addition to the 10 cheque leaves that BBSD account holders will receive free of charge.
Senior citizens will be exempted from having to pay these charges on cheque books.
Charges On Non-Financial Transactions
As per reports, there won’t be any charges for non-financial transactions by BBSD account holders at home and non-home branches. Also, transferring funds will be free of charge at the branch and alternate channels for the customers.
The cap for cash withdrawal has also been increased by customers at non-home branches through cheques and withdrawal forms. However, cash payments to third parties via withdrawal forms have not been permitted by the bank.
The limit for cash withdrawal through cheques has now been extended to Rs. 1 lakh per day. Additionally, the cash withdrawal using a withdrawal form along with a savings bank passbook has been extended to ?25,000 per day.
Also, third-party cash withdrawal limit has been fixed at ?50,000 per month (only through cheque).