If you also take the services of State Bank of India, then be alert because from July 1, many rules are going to change in this largest bank of the country. According to the information given by the State Bank, after the implementation of the new rules, using cash withdrawal and check book from ATM can prove to be costly.
Bank Changed The Service Charge
State Bank India, changed the service charge for withdrawing money from its ATMs and bank branches. The new charges will be applicable on chequebook, transfer and other non-financial transactions as per the information given on the official website of SBI. According to the bank, the new service charges will be applicable to SBI Basic Savings Bank Deposit (BSBD) account holders with effect from July 1, 2021.
Know What Is BSBD Account.
BSBD bank account in State Bank of India is actually a zero balance savings account. Zero balance savings account is opened for poor families. State Bank of India offers interest on zero balance accounts just like regular savings bank accounts. This change in the service charge of State Bank SBI BSBD account holders are given a copy of 10 checks in a financial year. Now the customer will have to pay a fee on a check book containing 10 checks. Now BSBD bank account holders will have to pay Rs 40 plus GST charge for 10 check leaves, Rs 75 plus GST charge for 25 check leaves. For 10 leaves of emergency check book, Rs 50 plus GST will have to be paid. However, the bank has waived the new service charge on checkbooks for senior citizens
Withdrawing Cash From ATM Also Became Expensive
SBI’s BSBD account holders have the facility to withdraw cash four times. After the four-time free limit is exhausted, the bank charges the customers. On cash withdrawal from ATM, the bank levies Rs.15 along with GST charge. Apart from this, due to the Corona crisis, State Bank of India has increased the cash withdrawal limit. Now, customers will be able to withdraw up to Rs 25,000 from their savings account through the withdrawal form.