The new charges of State Bank of India (SBI) will be applicable to Basic Savings Account Deposit (BSBD) account holders. BSBD account is a zero balance savings account for the poor. These account holders get an ATM-cum-debit card.
New Delhi. State Bank of India (SBI), the country’s largest government lender, is changing the rules regarding withdrawal of money and checkbooks from ATMs and bank branches. Under this, customers will have to pay charges for all these services. The new charges will be applicable to Basic Savings Account Deposit (BSBD) account holders. In other words, now customers will have to pay a fee for withdrawing cash from SBI ATM and getting a new checkbook. These new rules will come into effect from next month i.e. July 2021. Senior citizens will be exempted from new service charges on check books.
SBI BSBD is for the poor section so that they can be encouraged to open the account as there is no fee. It is also called zero balance savings account. There is no minimum or maximum balance requirement. These account holders get an ATM-cum-debit card. Anyone can open a BSBD account in SBI by producing valid KYC documents. Four free cash withdrawals will be available every month for BSBD account holders, which includes ATMs and bank branches. The bank will charge Rs 15 plus GST on every transaction after the free limit. Cash withdrawal charges will be applicable at home branch and ATM and non-SBI ATMs.
Now this fee will have to be paid for the check book
>> SBI BSBD account holders get 10 copies of checks in a financial year. Now the fee will have to be paid on the check book containing 10 checks. The bank will charge Rs 40 plus GST for a 10 leave check book.
>> SBI will charge Rs 75 plus GST for 25 leave check book.
>> Emergency check book will attract Rs 50 plus GST for 10 leaves.
>> There will be no charge for withdrawing money from the home branch on behalf of bank BSBD account holders.
These rules will be there to withdraw money from ATM
There will be no charge for withdrawing money from SBI ATM or bank branch 4 times. After this, Rs 15 and GST will be charged on cash withdrawal. SBI recently increased the cash withdrawal limit using cheques to Rs 1 lakh per day. Cash withdrawal using the Withdrawal Form with Savings Bank Passbook has been increased to Rs 25,000 per day. Apart from this, the third party cash withdrawal has been fixed at Rs 50,000 per month (using cheque only).