State Bank of India (SBI) has revised the service charges for Basic Savings Bank Deposit(BSBD) account holders. It will apply to ATM withdrawals and all non-financial transactions which will come into effect from July 1, 2021.
The bank will recover charges beyond four free cash withdrawal transactions which will include the transactions done at a branch as well as a bank ATM. The new service charge per cash withdrawal transaction is ₹15+ GST.
The new service charges on cheque transactions are also changed. According to the new rules, SBI would provide 10 cheques leaves free in a financial year to BSBD holders. After crossing the limit of free transactions, SBI will charge a certain amount for providing cheques.
10 leaf cheque Book at ₹40 plus GST
25 leaf cheque Book at ₹75 plus GST
Emergency Cheque Book: ₹50 plus GST for 10 leaves or part thereof.
SBI has decided that senior citizens will be exempted from all these new service charges change on cheque book.
Other than these new service changes on ATM withdrawals and Cheques, SBI has decided that there would not be any charges on non-financial transactions by BSBD account holders at SBI and non-SBI bank branches.
Transfer transactions will also be free at the branch and alternate channels, says the report of mint.