The State Bank of India (SBI) has changed rules and regulations for cash withdrawals from its branches and ATMs, chequebook charges, transfer, and non-financial transactions.
The SBI has released a statement announcing that the new rules and regulations for the basic savings account holders will come into effect from July 1, 2021.
State Bank Of India Revised Rules And Regulations For Cash Withdrawals
The basic savings bank deposits (BSBD) account is available at all bank locations and has no minimum or maximum balance restrictions.
Basic RuPay ATM-cum-debit cards are issued to BSBD account holders at SBI.
According to the new guidelines, you will not be charged for non-financial and transfer transactions.
Cash Withdrawal Charges
According to the SBI statement, the service charges will be recovered beyond four free cash withdrawal, including withdrawal at the ATM and Branch.
If you have availed of 4 free cash withdrawal transactions, then, you will have to pay a charge of Rs 15 with GST per cash withdrawal at any of its branches and ATMs.
The bank will provide the first 10 cheque leaves free of cost in a financial year to all the BSBD account holders.
According to new rules, BSBD account holders will have to pay Rs 40 along with the applicable GST while for a 25 leaf cheque book, you need to shell out Rs 75 plus applicable GST.
In case a customer wants an emergency cheque book, they need to pay Rs 50 along with the applicable GST for 10 leaves.
Senior citizens will, however, be exempt from making any payment cheque books.
These rules, which will be applicable for Basic Savings Bank Deposits (BSBD) account holders of SBI, will come into effect from July 1, 2021, as per official notification.