The country’s largest state-run State Bank of India (SBI) has given a big relief to its customers in view of the corona virus epidemic. SBI has increased the cash withdrawal limit from its non-home branch to Rs 1 lakh for its customers. On Saturday, SBI tweeted that for the convenience of customers, the limit for withdrawal of money through check and withdrawal form has been increased in non-home branches.
SBI has reduced the cash withdrawal limit to Rs 1 lakh per day by check. While the withdrawal limit through withdrawal form has been increased to Rs 25,000. Apart from this, third party cash withdrawals have been fixed at Rs 50,000 per month through cheques.
SBI clarified that no cash payment will be made to third party through withdrawal form. Also, third party will have to get KYC done in the bank for any transaction. The cash withdrawal limit extended by the State Bank will remain in effect till September 30, 2021. After this, the old rules will come into force again. Let us tell you that the branch of Home Branch Bank is called where you have opened your bank account.
Earlier, SBI has given a big blow to its customers. SBI has changed the service charges of its Basic Savings Bank Deposit (BSBD) account which will come into effect from July 1, 2021. With this new rule of SBI, it will become expensive for the bank’s customers to withdraw money from ATMs and issue checkbook checkbook.
The bank has decided to revise service charges on ATM withdrawals, checkbooks, money transfers and non-financial transactions. After the new SBI rules are implemented, if you withdraw cash from the ATM, then you will be able to withdraw cash for free only four times. Withdrawing money from ATMs more than four times a month, whether it is a State Bank ATM or another bank’s ATM, you will have to pay GST with 15 rupees for every transaction.
SBI will provide a 10-page checkbook every year to its Basic Savings Bank Deposit (BSBD) account holders for free. After that, if you issue a 10-page checkbook, then you will have to pay a GST charge of Rs 40. At the same time, if you take a check book of 25 pages, then GST charge will have to be given along with 75 rupees.
SBI will now charge 50 rupees for the 10-page emergency check book and the GST charge that will be levied on it. However, senior citizens are exempted from the new service charge on check books. Also, SBI will not charge any fees for non-financial transactions by BSBD account holders at its branches and non-SBI bank branches. BSBD account holders will not have to pay any additional charges on other transactions like NEFT or RTGS.
