For State Bank of India (SBI) customers, many changes will take place with the change of month from July 1, 2021. India’s largest commercial bank to change its fees for cash withdrawals from ATMs , cash withdrawal at the branch and checkbook. For Basic Savings Bank Deposit Accounts (BSBD) or SBI BSBD Accounts, fees will be recovered beyond 4 free cash withdrawal transactions including ATM and branch. Other than that, SBI account holders will be exempt from any charges on the first 10 check sheets only. Checks beyond this limit will be subject to a fee that will take effect from July 1, 2021.
SBI cash withdrawal fees in branch
According to SBI, cash withdrawals from both branches and ATMs are now limited and beyond this limit a fee will be applied to the SBI account holder from July 1, 2021. From July 1, ₹15 plus GST (Goods and Services Tax) will be applicable to SBI customers on each cash withdrawal at a branch or at an ATM beyond four free cash withdrawals.
SBI ATM withdrawal limit
On the rules for withdrawing cash from SBI ATMs that will take effect on July 1, 2021, India’s largest commercial bank added that ₹15 plus GST will be applicable on each transaction beyond four free transactions. The same fees will also be levied on cash withdrawals from other ATMs than SBI ATM.
SBI checkbook fees
From July 1, 2021, SBI will also limit the use of check sheets of its BSBD account holders. The new SBI checkbook fees in effect from July 1 indicate that you are only allowed to use 10 check sheets at no charge during a fiscal year. This means that an SBI BSBD account holder is only allowed to use 10 check sheets in a fiscal year. Use of tally sheets beyond this limit will be charged as below:
After using the first 10 control sheets:
1]The next 10 will be billed at ₹40 plus GST;
2]The following 25 will be invoiced ₹75 plus GST; and
3] ₹50 plus GST will be charged on the emergency check book for the first 10 check sheets and those.
However, the elderly are exempt from this limit on the use of the checkbook.
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