New Delhi : The State Bank of India has recently announced revision of service charges, modification of basic banking activities like ATM withdrawal, online transaction, issue of cheque book. The SBI new rules come to effect from June 1 (Thursday).
SBI has said that the Rs. 25 charges will be levied only when money is withdrawn from an ATM through the bank’s mobile wallet app.
From June 1, SBI will charge for withdrawal from bank branches and ATMs. Rs. 25 will be charged only when money is withdrawn from an ATM through the bank’s mobile wallet app.
The banks will also charge for changing torn and damaged notes from branches. If you want to exchange bank notes, money would be charged after the transaction of Rs 5000.
How much money will be deducted?
Four transactions will be free. After that, the bank will charge Rs 50 service tax per transaction. From ATMs of other banks, SBI will charge Rs 20 per transaction. From SBI ATMs, the bank will charge Rs 10 per transaction.
The online services will not be free. IMPS, UPI, and IUSSD transactions above Rs 1 lakh will be charged Rs 5. From Rs 1 lakh to Rs 2 lakh, Rs 15 will be charged. And from Rs 2 lakh to Rs 5 lakh, Rs 25 will be charged apart from service tax.
Here is all you need to know about the new service charges by State Bank of India (SBI):
Description of Service Charge Revised Rate
(A) IMPS Fund Transfer Charges through INB/MB/UPI/USSD
(i) Upto Rs. 1 Lac Rs. 5/- +Service Tax
(ii) Above Rs. 1 Lac upto Rs. 2 Lacs Rs. 15/- +Service Tax
(iii) Above Rs. 2 Lacs upto Rs. 5 Lacs Rs. 25/- +Service Tax
(B) Service Charges for exchange of Soiled/Imperfect Notes
(1) Upto 20 pieces and value upto Rs.5,000/ - Nil
(2) More than 20 pieces and / or value more than Rs.5,000/
More than 20 pieces - Rs.2/- per piece on entire tender + Service Tax
Value above Rs.5,000/- Rs.2/- per piece or Rs.5/- per 1000 + Service Tax whichever is higher on entire tender
Service Charges for Basic Savings Bank Deposit (BSBD) accounts
(1) Issue of Cheque book - 10 Leaf Cheque Book at Rs. 30/- + Service Tax
(2) 25 Leaf Cheque Book at Rs. 75/- + Service Tax
(3) 50 Leaf Cheque Book at Rs. 150/- + ST
Issue of ATM Card – Only RuPay classic card will be issued free of cost
Withdrawals - Four withdrawals in a month including ATM withdrawals free of charges.
(1) Beyond 4 withdrawals: At Branch- Rs 50/- + Service Tax per transaction.
(2) At other bank ATMS- Rs. 20/- + Service Tax per transaction.
(3) SBI Bank ATMs- Rs. 10/- + Service Tax per transaction.
APPLICABLE FOR STATE BANK BUDDY WALLET CUSTOMERS ONLY
STATE BANK BUDDY : Service Charges
(1) Cash withdrawal from Wallet Balance through ATM - Rs. 25/- per transaction
(2) Cash Deposit into Wallet through Business Correspondent (BC): Upto Rs.10000/- (multiples of 100) - 0.25% of the txn value (Min. Rs. 2, Max. Rs. 8) + Service Tax
(3) Cash Withdrawal from Wallet Balance through Business Correspondent (BC): upto Rs.2000/- (multiples of 100) - 2.50 % of the txn value (Min. Rs. 6) + ST
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