The State Bank of India (SBI) has revised its service charges for the Basic Savings Bank Deposit (BSBD) accounts which will come into effect from July 1. The country’s largest lender will levy charges for cash withdrawal beyond four free transactions in a month from customers holding the basic savings bank deposit (BSBD) accounts.
These customers will also be levied charges for cheque book beyond 10 leaves in a year.
As per the revision in service charges for BSBD accounts, the State Bank of India (SBI) will levy charges ranging from Rs 15 to Rs 75 for the “additional value-added services” with effect from July 1, 2021.
Non-financial transactions and transfer transactions will be free of cost at branches, ATMs, CDM (cash dispensing machines) for the BSBD account holders.
SBI said it will charge Rs 15 plus GST per cash withdrawal for transactions at bank branches, SBI ATM, or from other bank’s ATMs beyond 4 free cash withdrawals.
“Charges will be recovered beyond 4 free cash withdrawal transaction (including ATM and branch),” SBI said.
With respect to cheque book services, first, 10 cheque leaves will be free of cost in a financial year.
Thereafter, 10 leaf cheque book will be levied Rs 40 plus GST; 25 leaf cheque book at Rs 75 plus GST and emergency cheque book will attract a charge of Rs 50 plus GST for 10 leaves or part thereof, SBI said.
“However, senior citizen customers are exempted (on cheque book services),” said the state-owned lender.