The State Bank of India (SBI) has changed rules and regulations for cash withdrawals from its branches and ATMs, cheque book charges, transfer, and non-financial transactions. 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.
Basic savings bank deposits (BSBD) account is the one that is available at all branches of the bank and there is no limit assigned for either the minimum balance or the maximum balance. In the case of BSBD account holders at SBI, basic RuPay ATM-cum-debit cards are issued.
You won't have to pay any charges for non-financial and transfer transactions as per the new rules. If you have availed 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.
India's largest public-sector lender 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.
Edited by Mehak Agarwal
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