SBI will charge for cash withdrawal after four transactions in a month from July 1
As per SBI's latest revision in service charges for BSBD accounts, SBI will charge between Rs 15 to Rs 75 for "additional value-added services" from July 1.
Customers holding Basic Savings Bank Deposit (BSBD) accounts of State Bank of India (SBI) will have to pay cash withdrawal charges on four free transactions in a month and charges will also be applicable for check books of more than 10 in a year .
As per SBI's latest revision in service charges for BSBD accounts, the country's largest lender will charge between Rs 15 and Rs 75 for "additional value-added services" from July 1. Customers will have to pay Rs 15 plus GST per cash withdrawal for the transaction. After 4 free cash withdrawals from branches, SBI or other bank ATMs.
A charge of Rs 40 plus GST will be levied on 10 leaf cheque book, Rs 75 plus GST on 25 leaf cheque book and an emergency cheque book will attract Rs 50 plus GST for 10 leaves for part thereof. "However, senior citizen customers are exempted (on cheque book services)," reported by PTI.
As per this amendment, non-financial transactions and transfer transactions at branches, ATMs, CDM (cash dispensing machines) will be free for BSBD account holders.
Anyone can open a BSBD account after having a valid Know Your Customer (KYC) document. The main objective of these accounts is to encourage the poor sections of the society to open bank accounts without any fees or charges.