SBI revised service charges, Effective from today : All you need to Know


May 30 , Tuesday : State Bank of India (SBI) has increased charges for several services or facilities provided to customers such as Chequebook issuance,  cash withdrawal, online transfers, ATM Cards , Exchanging of notes and so on.

However, all saving bank accounts in a month will continue to get eight free ATM transactions including 5 at SBI ATMs plus  3 at ATMs of other banks in metros, while 10 free transactions in non-metros which includes 5 at SBI ATMs plus 3 at ATMs of other banks.

The new service charges has been effective from June 1,  i.e from today onwards.

Below we have enlisted modified charges levied on several services :

Chequebook Issuance : For basic savings bank deposit (BSBD) accounts, the bank would charge Rs 30 for issuance of a 10-leaf chequebook, while Rs. 75 for 25-leaf cheque book and for 50 – leaf chequebook customer would be charged Rs 150 plus service tax.

Cash Withdrawal : SBI allows first four withdrawals (including ATM) free of cost per month, after this the customer has to pay Rs 50 per transaction at branch, Rs. 20 at other branch ATMs and Rs. 10 at SBI ATMs respectively excluding service tax.

Online Transfers: Online fund transfer through IMPS or Immediate Payment Mode now would be charged Rs. 5 plus service tax for amounts of up to Rs. 1 lakh; Rs. 15 plus service tax for over Rs. 1 lakh and up to Rs. 2 lakh; and Rs. 25 plus service tax for more than Rs. 2 lakh and up to Rs. 5 lakh.

E- wallet :  The bank would also levy charges on its e-wallet users, as now they  have to pay Rs 25 per transaction for cash withdrawals from wallet balance through ATMs.

And if customer is depositing cash through bank correspondent (BC) then he or she will have to pay a minimum Rs 2 per transaction, while for cash withdrawal of up to Rs 2,000 bank would charge a minimum Rs 6 per transaction.

Exchange of Soiled Notes: If a customer wants to exchange soiled notes above 20  or if the total value of soiled notes is over Rs. 5,000, SBI said it will charge Rs. 2 plus service charge for each soiled note.

Wefornews Bureau 

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