Rules will change for SBI customers after four days, how much will be spent on withdrawing money from ATM and cheque
New Delhi. State Bank of India (SBI) is going to change many rules for consumers in the next four days. These changes are going to happen in the rules regarding withdrawing money from ATMs as well as withdrawing money from bank branches and check books. These new rules will come into effect from July 1 next month. The new charges are going to be applicable to Basic Savings Bank Deposit Account (BSBD) holders.
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Basic Savings Bank Deposit Account (BSBD)
SBI’s Basic Savings Bank Deposit Account is for those poor people of the society who can be more and more encouraged to open the account without any fees or charges. This is called zero balance savings account. There is no minimum or maximum balance requirement. Any person who has valid KYC documents can open a BSBD account with SBI.
free cash withdrawal available
Four free cash withdrawals will be available every month for BSBD account holders. ATMs and bank branches have also been included in this. The bank charges 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 are given a copy of ten checks in a financial year. Now a charge has been levied on a check book containing 10 checks. For a book containing 10 checks, the bank will charge Rs 40 plus GST.
2. For 25 check leaves, the bank will charge Rs 75 plus GST.
3. For emergency check book, Rs 50 and GST will be levied.
4. Senior citizens will be exempted from new service charges on check books.
5. No charges will be levied for withdrawal of money by BBSD account holders at home and from their own or other bank branches.
New rules for withdrawing money from ATM
SBI has kept 4 times withdrawal money from the bank branch free i.e. Rs 15 and GST will be deducted for withdrawing cash after the free limit.
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Cash withdrawal limit of Rs 1 lakh per day
SBI recently increased the cash withdrawal limit using cheques. It has been made Rs 1 lakh per day. Cash withdrawal using the Withdrawal Form with Savings Bank Passbook has been increased to ₹25,000 per day. With this the third party cash withdrawal is fixed at 50,000 per month (using cheque only).