For State Bank of India (SBI) customers, The largest commercial bank in India is going to change its charges for ATM cash withdrawal starting from July 1, cash withdrawal from the branch and cheque book. For Basic Savings Bank Deposit (BSBD) Accounts or SBI BSBD accounts, charges will be recovered beyond free 4 cash withdrawal transaction including ATM and branch. Apart from this, SBI account holders will be exempted from any charges on first 10 cheque leaf only.
Other SBI ATM cash withdrawal rules:
– 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.
– SBI Basic Savings Bank Deposit account scheme has been launched for the poor section of people to encourage them to start saving without any burden of charges or fees.
– For BSBD account holders, no minimum balance or the maximum balance is required. Customers in this category are issued basic Rupay ATM-cum-debit cards.
– Only Indian citizens with valid KYC documents can open a BBSD account in SBI.
How much does an SBI cheque book charge?
SBI is going to put a limit on the cheque leaf usage for its Basic Savings Bank Deposit Account (BSBDA) holders as well from 1 July. As per the new rule, customers are allowed to use only 10 cheque leaf without any charges in a financial year.
– For the next 10, customers will be charged Rs 40 plus GST
– For the next 25, customers will be charged Rs 75 plus GST
– While Rs 50 plus GST will be charged on Emergency Cheque Book for the first 10 cheque leafs. However, senior citizens are relieved from this cheque book use limit.