SBI Customers ALERT: State Bank of India rules for Cash withdrawal from ATM, Branch ti change soon know Details Here
The new charges will be applicable for Basic Savings Bank Deposit (BSBD) account holders from July 1.
The State Bank of India (SBI), India’s top lender, is now ready to introduce new rules and charges for cash withdrawals from its ATMs and bank branches from July 1, 2021. The new charges will be applicable for Basic Savings Bank Deposit (BSBD) account holders. It will also be applied to ATM withdrawals, chequebooks, transfers, and other non-financial transactions.
New rules and charges:
1) SBI Basic Savings Bank Account can be opened by any individual with valid KYC documents. To encourage the poorer sections of society, 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 changes will be applicable for SBI Basic Savings Bank Deposit account holders.
2) ATM Withdrawal charges: There will be four free cash withdrawals available for BSBD account holders. It includes ATMs and bank branches every month. The new service charge beyond four free withdrawals will be Rs 15 plus GST per withdrawal at all SBI ATMs. The service charge will be applicable at home branch and ATMs and non-SBI ATMs. 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.
3) Cheque Book Charges: 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 cheque leaves
• Rs 75 plus GST for 25 cheque leaves
For Emergency Cheque Book, Rs 50 plus GST would be charged for 10 leaves
However, senior citizens are relieved from this cheque book use limit.
4) Cash Withdrawal at Branches: SBI will not impose any charges for non-financial transactions by BBSD account holders at home and non-home branches. For BSBD account holders, transfer transactions will also be free at branch and alternate channels
At non-home branches, the cash withdrawal limit has increased for all. The bank stated, “To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form.”
The cash withdrawal at branches was hiked to Rs 1 lakh per day, using cheque. While, the cash withdrawal has been increased to Rs 25,000 per day, using a withdrawal form along with a savings bank passbook.
Also, the third-party cash withdrawals have been fixed at Rs 50,000 per month (only using cheque).
“No cash payments to third parties by withdrawal forms will be allowed,” the bank said. The revised ceilings are valid till September 30. The new rule will be applicable to all SBI customers.
