SBI new service charges for ATM cash withdrawal, chequebooks. Details here

The country’s top lender State Bank of India (SBI) has revised service charges for Basic Savings Bank Deposit (BSBD) account holders. The new charges would apply to ATM withdrawals, chequebooks, transfers, other non-financial transactions. The new charges have come into effect from today (July 1, 2021), the lender had mentioned on its website.

SBI BSBD account

State Bank of India (SBI) Basic Savings Bank Deposit (BSBD) account, popularly known as zero balance savings account was designed as a savings account that will offer certain minimum facilities, free of charge, to the holders. Such accounts are primarily aimed at enhancing financial inclusion among the economically weaker sections.

Cash withdrawal at SBI branches

The bank will recover charges beyond four free cash withdrawal transactions. This includes the transactions done at a branch as well as a bank ATM. The new charge is 15 plus GST per cash withdrawal transaction at Branch Channel/ATM.

Cash withdrawal at SBI ATMs

As per the SBI’s website, there will be four free cash withdrawals available — including ATMs bank branches every month for BSBD account holders. The bank will apply a fee of 15 plus GST for every transaction beyond the free limit. The charges on cash withdrawal will be applicable at the home branch ATMs non-SBI ATMs.

Chequebook charges

SBI would provide 10 cheque leaves free in a financial year to BSBD account holders. After that, 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.

However, senior citizens will be exempted from these new service charges on cheque book.

Charges on non-financial transactions

There would not be any charges on non-financial transactions by BSBD account holders at SBI non-SBI bank branches. Transfer transactions will also be free at the branch alternate channels for these account holders, the lender said.

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