State Bank of India (SBI) ATM, cash withdrawal, 2021 checkbook fees: new service fees will come into effect for SBI Basic Savings Bank Deposit (BSBD) account holders from July 1, 2021. new fees would apply to ATM, checkbook, wire transfer and other non-financial transactions. SBI Basic Savings Bank Account can be opened by anyone providing valid KYC documents. The minimum balance required in the SBI BSBD account is zero while there is no limit on the maximum amount that can be kept in this account. BSBD account holders also receive a Basic Rupay ATM debit card.
Here is an overview of the new fees
Cash withdrawal at SBI branches
The bank will recover the fees beyond four free cash withdrawal fees, including at branches and at an ATM. In other words, BSI BSBD account holders will have to pay a service fee to make more than four free cash withdrawals in a month. The new fee to be recovered from customers would be Rs 15 plus GST per branch / ATM cash withdrawal transaction.
Cash withdrawals from SBI ATMs
SBI indicates that the service fees will be recovered beyond 4 free cash withdrawals, including at ATMs and in branches. The service charge beyond four free withdrawals will be Rs 15 plus GST per withdrawal at all SBI and non-SBI ATMs.
SBI would provide 10 free checks in a fiscal year to BSBD account holders. After that, Rs 40 plus GST would be charged for a 10 sheet checkbook. Rs 75 plus GST would be charged for a 25 sheet checkbook. For the emergency checkbook, Rs.50 plus GST would be charged for 10 sheets or part thereof. Seniors are exempt from the new checkbook service charges.
There would be no fees on non-financial transactions by BSBD account holders at SBI and non-SBI bank branches.
Earlier this month, SBI cut mortgage interest rates to 6.70%. The bank said that SBI home loan interest rates now start at 6.70% for loans up to Rs. 30 lakh and 6.95% for loans over Rs. 30 lakh to Rs. 75 lakh. . Home loans above Rs. 75 lakh get very attractive interest rates of 7.05%