As per the official statement from the State Bank of India (SBI), it has decided to levy charges on ATM withdrawals and Cheques usage from July 1, 2021.
The following are the details of charges that will be imposed on customers for usage exceeding the limit in a single financial year. The charges will be applied to the SBI account holder from 1st July 2021.
SBI cash withdrawal charges from ATM
Cash withdrawal from ATM is limited now to 4. This is applicable for all the account holders including Basic Savings Bank Deposit (BSBD) holders. After the limit cross, that is from the 5th time ATM withdrawal, ₹.15 plus GST (Goods and Services Tax) will be applicable. The same charges will be levied on cash withdrawal from other than SBI ATM as well. Hence only 4 ATM withdrawals are only free.
SBI cash withdrawal charges from Branch
Cash withdrawal from the Branch is also limited now to 4. This is applicable for all the account holders including Basic Savings Bank Deposit (BSBD) holders. After the limit cross, that is from the 5th time ATM withdrawal, ₹.15 plus GST (Goods and Services Tax) will be applicable. Hence only 4 ATM withdrawals are only free.
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SBI cheque book charges
SBI is going to limit cheque leaf usages for its BSBD account holders as well. A customer is allowed to use only 10 cheque leafs without any charges in a financial year. Using cheque leafs beyond this limit will be chargeable as below:
- First 10 cheque leafs will be Free
- Next 10 cheque leafs will be charged at ₹.40 plus GST
- Next 25 cheque leafs will be charged at ₹.75 plus GST
- Emergency Cheque Book for first 10 cheque leafs and thereof will be charged at ₹.50 plus GST
However, senior citizens are exempted from this chequebook usage limit.
The largest Indian commercial bank has, however, kept other rules and transaction limits unchanged. All other charges and Interest rates will not be affected by these changes. They remain unaffected and unchanged.