The country’s largest state-run bank SBI has decided to change the charges for cash withdrawal and other things. These rules will come into effect from July 1.
SBI rules change
Many things are going to change for the customers of State Bank of India (SBI) from 1st July 2021. These include things like issuing check books, including cash withdrawal from bank ATMs and other financial institution branches. SBI has implemented this change on the Basic Savings Bank Deposit Account ie BSBD. Under this, now only 4 transactions will be free in a month, this includes both cash withdrawal from branches and ATMs. Similarly, the rules regarding check books have also been changed.
Know how much charges will be deducted on cash withdrawal
According to SBI, cash withdrawal from both branch and ATM will be charged with effect from July 1, 2021. Four transactions will be free. After this, Rs 15 plus GST will be levied on each transaction. Apart from SBI ATMs, the same charge will be levied for withdrawing cash from other ATMs as well.
10 pages check book will be free
SBI will allow BSBD account holders to use a 10-page check book for free. After this, there will be a charge for taking more check book or issuing check book with more pages. This rule will come into effect from July 1. Under this, 40 rupees, along with GST, will be levied on the checkbook of the next 10 pages. On the other hand, Rs 75 plus GST will be charged for 25 pages and Rs 50 plus GST will be charged for emergency check book. However, senior citizens are exempted from this check book usage limit.
What is Basic Savings Bank Deposit Account
These accounts can be opened through KYC. In this, Rupay ATM cum Debit Card will also be available, so that you will be able to do 4 cash withdrawals from any bank’s ATM for free. Interest is being given in this savings account at the rate of 2.70 per cent per annum.
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