The new rules apply to all SBI BSBD account holders.
SBI BSBD account can be opened bu any individual by providing KYC documents.
State Bank of India is all set to revise rules for Basic Savings Bank Deposit (BSBD) account holders. The new rules will be with enforced from 1st July 2021.
SBI is revising service charges pertaining to ATM cash withdrawal, chequebook, fund transfers, and other non-financial transactions. Any individual can open a BSBD account in SBI by producing valid KYC documents.
ATM-The new service charge beyond four free withdrawals will be Rs 15 plus GST per withdrawal at all SBI ATMs. The service charge levied for non-SBI bank ATMs is also Rs 15 plus GST.
Branch- The SBI will recover charges beyond four free cash withdrawal charges, including at an SBI branch and ATM. This means BSBD account holders of BSI will have to pay a service charge for making more than four free cash withdrawals in a month. The new charge to be recovered from customers would be Rs 15 plus GST per cash withdrawal transaction from an SBI ATM or a SBI branch.
Chequebook- The SBI would now provide 10 cheque leaves free in a financial year to BSBD account holders. After that, the bank will charge Rs 40 plus GST for a 10 leaf cheque book, and Rs 75 plus GST would be charged for a 25 leaf cheque book.
For Emergency Cheque Book, Rs 50 plus GST would be charged for 10 leaves. Senior citizens are exempted from the new service charge on cheque book. There would not be any charges on non-financial transactions by BSBD account holders at SBI and non-SBI bank branches.
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