Withdrawing money from SBI ATM will be expensive, check book rules will also change

New Delhi. The country’s largest public sector lender State Bank of India (SBI) is changing the rules for withdrawing money from its ATM or branch from July 1, 2021. Along with this, the rules for issuing new checkbooks will also be changed. According to the new rule, the charges for withdrawing money from ATM or branch are being increased. These increased charges will be applicable to Basic Savings Account Deposit (BSBD) account holders. SBI is also going to levy charges on checkbooks.

This fee will be charged after the free limit

SBI Basic Savings Bank Deposit Account is meant for the poor sections to encourage them to open accounts without any charges. It is also called zero balance savings account. 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, which includes 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.

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>> 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.

>> For 25 check leaves, the bank will charge Rs 75 plus GST. Emergency check book will attract Rs 50 plus GST for 10 leaves.

>> Senior citizens will be exempted from new service charges on check books.

>> Bank BBSD account holders will not be charged for withdrawing money from home and from their own or other bank branch.

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ATM withdrawal rules

Withdrawing money 4 times from SBI ATM or bank branch will be free. After this, cash withdrawal will attract a charge of Rs 15 and GST. SBI has given this information through Twitter. SBI recently increased the cash withdrawal limit using cheques to Rs 1 lakh per day. Cash withdrawal using the Withdrawal Form with Savings Bank Passbook has been increased to Rs 25,000 per day. Third party cash withdrawal is fixed at Rs 50,000 per month (using cheque only).

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