OPEN APP
Home >Money >Personal Finance >SBI ATM cash withdrawal, cheque book charges to change from 1st July. Details here

SBI ATM cash withdrawal, cheque book charges to change from 1st July. Details here

SBI ATM cash withdrawal rules going to become effective from 1st July 2021, says that  ₹15 plus GST will be applicable on each transaction beyond four free transaction. (Mint)Premium
SBI ATM cash withdrawal rules going to become effective from 1st July 2021, says that 15 plus GST will be applicable on each transaction beyond four free transaction. (Mint)

  • SBI cheque book charges effective from 1st July 2021 says that in one financial year, a customer is allowed to use only 10 cheque leaf without any charges

For State Bank of India (SBI) customers, a lot of changes will be taking place with the change of month from 1st July 2021. The largest commercial bank in India is going to change its charges for ATM cash withdrawal, cash withdrawal from the branch and cheque book. For Basic Savings Bank Deposit (BSBD) Accounts or SBI BSBD accounts, charges will be recovered beyond free 4 cash withdrawal transaction including ATM and branch. Apart from this, SBI account holders will be exempted from any charges on first 10 cheque leaf only. For cheque leaf beyond this limit will be subject to charges going to become effective from 1st July 2021.

SBI cash withdrawal charges from branch

According to SBI, cash withdrawal both at branch and ATM is limited now and beyond that limit, there will be charges applied on the SBI account holder from 1st July 2021. From 1st July, 15 plus GST (Goods and Services Tax) will be applicable on SBI customers on each cash withdrawal at branch channel or ATM beyond four free cash withdrawal.

SBI ATM withdrawal limit

On SBI ATM cash withdrawal rules going to become effective from 1st July 2021, the largest Indian commercial bank went on to add that 15 plus GST will be applicable on each transaction beyond four free transaction. Same charge will be levied on cash withdrawal from other than SBI ATM as well.

SBI cheque book charges

From 1st July 2021, SBI is going to limit cheque leaf usages from its BSBD account holders as well. The new SBI cheque book charges effective from 1st July says that one is allowed to use only 10 cheque leaf without any charges in a financial year. That means, a SBI BSBD account holder is allowed to use only 10 cheque leafs in one financial year. Using cheque leafs beyond this limit will be chargeable as below:

After use of first 10 cheque leafs:

1] Next 10 will be charged at 40 plus GST;

2] Next 25 will be charged 75 plus GST; and

3] 50 plus GST will be charged on Emergency Cheque Book for first 10 cheque leafs and thereof.

However, senior citizens are exempted from this cheque book use limit.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout