If you are an SBI customer then this news can be interesting for you. SBI will make some major changes in the rules of banking services from July 1, 2021.
Under these new rules of SBI, customers can now withdraw money up to 4 times from ATMs and bank branches without any service charge. Thereafter, each withdrawal from the ATM or branch will attract a service charge. Apart from this, the fee for checkbook will also be charged from July 1.
These new rules of SBI are for customers with Basic Savings Bank Deposit (BSBD) account. BSBD is also called zero balance savings account and the customer is not required to maintain a minimum or maximum balance. In order to encourage the poor section of the country to save, the facility of opening this account without any fee has been provided.
What are the new rules for withdrawing money from ATMs and branches?
According to SBI, customers with BSBD account will now be able to withdraw money from branches and ATMs only four times without any service charge. After this, if a customer withdraws money from an ATM or branch, then he will have to pay Rs 15 plus GST for every transaction as service charge. This rule will come into effect from July 1, 2021. The same rule will be applicable for withdrawing money from any ATM other than SBI.
Here are the new rules regarding checkbook in SBI.
SBI will amend the rules limiting the use of checkbooks for its customers with BSBD accounts with effect from July 1, 2021. In 1 financial year, these customers will be able to use only a 10-page check book without any service charges. For a 10-page checkbook, these customers will have to pay Rs 40 plus GST. At the same time, on a 25 page check book, the customer will have to pay Rs 75 plus GST. If a customer wants to buy a 10-page check book in an emergency, the customer will have to pay Rs 50 plus GST. However, senior citizens are exempted from these new rules.
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