SBI latest news: State Bank of India changes rules for cash withdrawal from ATM, branch

SBI New Rules: The country’s top lender has revised its rules for cash withdrawals from its ATMs, branches and chequebook charges. These changes will be implemented from July 1, 2021. According to the reports, these changes are meant for basic savings bank deposits (BSBD) account holders.

The new charges will be applicable on the chequebook, transfer and other non-financial transactions. According to the bank, the new service charges will be applicable to SBI Basic Savings Bank Deposit (BSBD) account holders from July 1, 2021.

From charges on ATM cash withdrawals to chequebooks, here are changes that SBI customers should take note of:

SBI withdrawal charges

The service charges will be recovered beyond four free cash withdrawal, including withdrawal at the ATM and Branch. The SBI said that the service charge beyond four free withdrawal will be Rs 15 plus GST per withdrawal at all SBI ATMs. The service charge levied for non-SBI bank ATMs is also Rs 15 plus GST.

Including at an SBI branch and ATM, SBI will recover charges beyond four free cash withdrawal charges. If SBI customers withdraw money from the SBI branches more than four times in a month, then the customer needs to pay Rs 15 plus GST per cash withdrawal transaction from July 1 this year.

SBI Cheque book

Along with SBI ATM and branches cash withdrawals, the State Bank of India has brought new rules for issuing cheque books. SBI customers will have to pay GST along with Rs 40 for a 10 leaf chequebook. If SBI customer required a 25-leaf cheque book, he or she needs to pay Rs 75 plus GST. However, senior citizens have been kept out of this rule of new service charge for cheque book.