State Bank of India imposes new rules and charges for Savings account holders

State Bank of India, India’s largest lender it ready to revise its rules and regulations and service charges for the SBI Basic Savings Bank Deposit (BSBD) account holders.

The news charges will applicable to ATM withdrawals, chequebook, transfer, and other non-financial transactions. From July 1, 2021 the new rule is gong to be imposed.

the saving accounts in State Bank of India can be opened by anyone , they just need to provide Valid KYC documents to the bank. The minimum balance required in the State Bank of India BSBD account is nil while there is no limit on the maximum amount one can keep in this account. Basic Savings Bank Deposit (BSBD) account holders will also get a Basic Rupay ATM-cum-debit card, which they can use anywhere in the India.

The service charges will be recovered beyond four free cash withdrawals, including withdrawal at the ATM and Branch. The new service charge beyond four free withdrawals will be Rs 15 plus GST per withdrawal at all SBI ATMs. The service charge levied for non-SBI bank ATMs is also Rs 15 plus GST.

For a year the bank will provide 10 cheque leaves free but after that the bank will charge Rs 40 plus GST for a 10 leaf cheque book, and Rs 75 plus GST would be charged for a 25 leaf cheque book.

For Emergency Cheque Book, Rs 50 plus GST would be charged for 10 leaves. Senior citizens are exempted from the new service charge on cheque book. There would not be any charges on non-financial transactions by BSBD account holders at SBI and non-SBI bank branches.

Also read: Section 144 imposed in Lucknow till July 6