SBI revises ATM charges and several others

Logo of India's largest banker, SBI

State Bank of India (SBI) has revised it’s service charges for Basic Savings Bank Deposit (BSBD) account holders. These changes will come into effect from July 1, 2021.

The new charges would apply to ATM withdrawals, cheque book, transfer and other non-financial transactions,” the bank said on its website.

What is an SBI BSBD account?

A State Bank of India BSBD account is also known as a zero-balance savings account. The purpose of these accounts is to encourage economically weaker sections of society to start saving without the burden of charges or fees. The interest rates offered to these accounts are the same as those offered to regular savings accounts.

Cash withdrawal

At SBI ATM

Charges will be levied after four free cash withdrawals in a month. This includes withdrawals both at ATM and branch. After this a Rs 15 plus GST will be charged at all SBI and non-SBI ATMs.

At SBI branches

Four cash withdrawals are free of cost. After this the bank will charge Rs 15 plus GST per cash withdrawal at the branch or ATM.

Non-financial transactions

No charges are levied on non-financial transactions by BSBD account holders at SBI and non-SBI bank branches.

Cheque book charges

  1. 10 cheque leaves are provided by the bank to BSBD account holders in a financial year.
  2. Subsequently, a cheque book containing 10 leaves will be charged Rs 40 plus GST.
  3. Subsequently, a cheque book containing 25 leaves will be charged Rs 75 plus GST.
  4. Emergency cheque book: Rs 50 plus GST for 10 leaves.
  5. The charges for cheque books are not applicable for senior citizens.

Transfer transactions

Transfer transactions will be free of cost for BDSD account holders at branch and alternate channels.

You may also like...

Leave a Reply

%d bloggers like this: