Indias largest Bank SBI declared charges of Rs 15 plus GST per cash withdrawal for transaction at bank branches, SBI ATM or from other bank’s ATMs beyond 4 free cash withdrawals. Customers holding the basic savings bank deposit (BSBD) accounts in SBI will need to pay charges to their banks for cash withdrawal beyond four free transactions in a month. With respect to cheque book services, although first 10 cheque leaves will be free of cost in a financial year, customers will have to pay charges for cheque book beyond 10 leaves in a year. Thereafter, cost of 10 leaf cheque book will be Rs 40 plus GST; 25 leaf cheque book at Rs 75 plus GST and emergency cheque book will be at a price of Rs 50 plus GST for 10 leaves or part thereof, SBI said.
There will not be extra cost for Non-financial transactions and transfer transactions at branches, ATM, CDM (cash dispensing machines) for the BSBD account holders. However, as per the revision in service charges for BSBD accounts, State Bank of India (SBI) will levy charges ranging from Rs 15 to Rs 75 for the “additional value added services” with effect from July 1, 2021.
“However, senior citizen customers are exempted (on cheque book services),” said the state-owned lender.