State Bank of India (SBI), India's largest commercial bank, has revised its charges for various banking services like ATM withdrawals, cash transactions and services charges beginning today.
SBI's decision to levy charges on several online banking transactions comes at a time when the government is pushing hard to promote lower cash transaction and boost digital payment.
Here are the details of the new service charges
1) For customers of its mobile wallet State Bank Buddy, withdrawal of cash from ATMs would attract Rs 25 per transactions.
The savings account holders will get four free cash withdrawals from ATMs, beyond that service charge of Rs 50 plus service tax will be applicable. Also, savings account holders will be charged Rs 20 plus service tax for cash withdrawal from other bank ATMs and Rs 10 plus service tax if withdrawn from SBI's own ATMs.
2) SBI will charge for all new ATM cards henceforth, but only RuPay classic card will be free of any charge.
3) All SBI bank deposit account holders will be charged for cheque books. For a 10-leaf cheque book, account holder will be charged Rs 30, for 25-leaf cheque book Rs 75 plus service tax will be applicable and 50-leaf book will be levied Rs 150 plus service tax.
4) For IMPS cash transfer through internet banking/UPI/IUSSD, customers will be charged Rs 5 for amounts up to Rs 1 lakh. For fund transfers over Rs 1 lakh to Rs 2 lakh, Rs 15 will be applicable while Rs 25 will be charged for amounts over Rs 2 lakh to Rs 5 lakh. However, these charges do not include service taxes.
5) SBI customers will be charged at 0.25 percent of the value with a minimum of Rs 2 and maximum of Rs 8 plus service tax for cash deposits through banking correspondent of up to Rs 10,000. Similarly, any cash withdrawal of up to Rs 2,000 from a banking correspondent shall attract a charge of 2.50 percent of the transaction value (minimum of Rs 6) plus service tax, The Economic Times report said.
6) SBI customers looking to exchange soiled and bad notes up to 20 pieces valuing up to Rs 5,000 will attract nil charges. However, bad notes of more than 20 pieces and valuing over Rs 5,000 will attract Rs 2 for every soiled note.
Updated Date: Jun 01, 2017 17:13 PM