SBI Alert: From July 1, the country’s largest public sector bank SBI is going to change the rules regarding withdrawing money from its ATMs, withdrawing money from bank branches and check books. These new rules will come into effect from July 1 from next month. The new charges will be applicable to Basic Savings Account Deposit (BSBD) account holders. Now SBI is going to withdraw money from ATM and levy charge on check book.
What is SBI Basic Savings Bank Deposit Account (BSBD)?
SBI Basic Savings Bank Deposit Account is meant for the poor section of the society so that they can be encouraged more and more to open the account without any fees or charges. It is also called zero balance savings account. There is no minimum or maximum balance requirement. These account holders get an ATM-cum-debit card. Any individual who has valid KYC documents can open a BBSD account with SBI.
Four free cash withdrawals will be available every month for BSBD account holders – including ATMs and bank branches. The bank will charge Rs 15 plus GST on every transaction after the free limit. Cash withdrawal charges will be applicable at home branches and ATMs and non-SBI ATMs.
Check Book Fee:
1. SBI BSBD account holders get 10 copies of checks in a financial year. Now charges will have to be paid on the check book containing 10 checks. For 10 check leaves, the bank will charge Rs 40 plus GST.
2. For 25 check leaves, the bank will charge Rs 75 plus GST.
3. Emergency check book will attract Rs 50 plus GST for 10 leaves.
4. Senior citizens will be exempted from new service charges on check books.
5. There will be no charge for withdrawal of money by bank BBSD account holders at home and from their own or other bank branch.
These new rules will be there for withdrawing money from ATM
Withdraw money 4 times from SBI ATM or bank branch will be free. After this i.e. after the free limit, a charge of Rs 15 and GST will be levied on cash withdrawal. SBI gave this information through Twitter.
SBI recently increased the cash withdrawal limit using cheques to ₹1 lakh per day. Cash withdrawal using the Withdrawal Form with Savings Bank Passbook has been increased to ₹25,000 per day. In addition, third party cash withdrawals are fixed at ₹50,000 per month (using cheques only).
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