State Bank Of India: Here are SBI’s new service charges that kick in from today

NEW DELHI: State Bank of India (SBI) had announced several revisions in charges on different services last month. The new charges kick in from today, June 1. Below is a summary of the revised charges:

ATM charges
All cash withdrawals through ATM—by customers of its mobile wallet State Bank Buddy—will now be charged at Rs 25 per transaction. Beyond four withdrawals in a month— for basic savings banks deposit account—the service charges applicable will be Rs 50 plus service tax per transaction; Rs 20 plus service tax at other bank ATMs; and Rs 10 plus service tax for SBI’s own ATMs. All normal savings bank accounts will continue to get eight free ATM transactions in metros and 10 free transactions in non-metros.

Online transfer
IMPS fund transfer charges through internet banking/UPI/IUSSD will be Rs 5 plus service tax for amounts of up to Rs 1 lakh; Rs 15 plus service tax for above Rs 1 lakh and up to Rs 2 lakh; and Rs 25 plus service tax for above Rs 2 lakh and up to Rs 5 lakh.

Deposits through banking correspondents
Cash deposit through banking correspondent of up to Rs 10,000 will be charged at 0.25 per cent of the value with a minimum of Rs 2 and maximum of Rs 8 plus service tax. Cash withdrawal through banking correspondent of up to Rs 2,000 will be charged at 2.50 per cent of the transaction value (minimum of Rs 6) plus service tax.

Cards
Only RuPay classic card will be issued for free.

Cheque book charges
Issue of a 10-leaf cheque book will now cost Rs 30 plus service tax; 25-leaf book, Rs 75 plus service tax and 50-leaf book at Rs 150 plus service tax.

READ ---  Floyd Mayweather-Conor McGregor megafight finalized for Aug. 26

Exchange of bad currency notes
Service charges for exchange of soiled/imperfect notes, up to 20 pieces and value of Rs 5,000 will attract no charge. More than 20 pieces will invite Rs 2 per piece plus service tax. For value above Rs 5,000, Rs 2 per piece or Rs 5 per 1,000 plus service tax, whichever is higher on the entire order will be charged.

Source