- The State Bank of India will change a lot from the next month which will affect its customers
- SBI will be making changes in a lot of charges including ATM cash withdrawal and cheque book
- A customer is allowed to use only 10 cheque leaf without any charges
For the customers of the State Bank of India, a lot of changes will take place in terms of charges as the month will change from 1st July 2021. The largest commercial bank in India will be making changes to its charges for ATM cash withdrawals, cash withdrawal from the branch and chequebook.
For Basic Savings Bank Deposit (BSBD) Accounts or SBI BSBD accounts, charges will be recovered beyond the 4 free cash withdrawal transaction including ATM and branch. Apart from this, SBI account holders will be exempted from any charges on first 10 cheque leaf only. For cheque leaf beyond this limit will be subject to charges going to become effective from 1st July 2021.
SBI cash withdrawal charges from branch
As per the State Bank of India, cash withdrawal both at branch and ATM is limited now and beyond that limit, there will be charges applied on the SBI account holder from 1st July 2021.
From 1st July, ₹ 15 plus GST (Goods and Services Tax) will be applicable on SBI customers on each cash withdrawal at branch channel or ATM beyond four free cash withdrawal.
SBI ATM withdrawal limit
On SBI ATM cash withdrawal rules going to become effective from 1st July 2021, the largest public sector bank went on to add that ₹ 15 plus GST will be applicable on each transaction beyond four free transactions.
Same charges will also be levied on cash withdrawal from other than SBI ATM as well.
SBI cheque book charges
From the 1st July 2021, the State Bank of India is going to limit cheque leaf usages from its BSBD account holders as well. The new SBI cheque book charges effective from the 1st of July says that one will be allowed to use only 10 cheque leaf without any charges in a financial year. This means that an SBI BSBD account holder will only be allowed to use only 10 cheque leaves in one financial year.
Using cheque leaves beyond the above-mentioned limit will be chargeable as below:
- Next 10 will be charged at ₹40 plus GST;
- Next 25 will be charged ₹75 plus GST; and
- ₹50 plus GST will be charged on Emergency Cheque Book for first 10 cheque leafs and thereof
Having said this, the senior citizens will be exempted from this cheque book use limit.