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SBI Will Charge Rs 25 For Every ATM Withdrawal From June 1

The State Bank of India (SBI) has again revised it’s service charges and it will come into effect from the 1st June 2017. For every transaction / cash withdrawal customer will be charged a sum of Rs 25.

According to this new revision, the bank will also be levying an additional charges on issuance of the ATM card to new customers. However the RuPay Cards will be free of cost. And customers will also need to pay some amount for the Cheque Books. Check in the article below how much more will now SBI charge for transactions, ATM Cards and cheque books.

SBI Revised Fees For ATM Withdrawal ATM Cards & Cheque Books

As per the new policies of service charges, an amount of Rs 25 will be levied every time, a customer withdraws some money from ATM. SBI has also notified that 2.50 percent of value, charges will applied for sums up to Rs 2,000 cash deposit via BC while 0.25 % charges will be applied for cash deposits via BC that are up to a sum of Rs 10,000.

But this new notification has created a confusion for service charges applicable. A part of this new notification states that extra charges for every ATM transaction while in other segment it mentions that four withdrawals in a month including ATM withdrawals would be free of charges.

For more than 4 withdrawals Rs 50 will be charged as service tax per transaction from other bank ATMs while for SBI Bank ATM Rs 10 per transaction will be charged beyond 4 withdrawals. Ths confusion is yet to be cleared by the SBI which is created by 2 segments of the same notification

SBI Amount Charges On Issuance Of ATM & Cheque Books

Not only this the bank has also notified to charge some amount for issuance of the ATM cards and Cheque Books. Now customer of SBI need to pay Rs 30 for a 10 leaf cheque book along with the applicable service taxes while the charge of 25 leaf chequebook and 50 leaf chequebook is Rs 75 and Rs 150 respectively.

Along with all these changes, SBI had also introduced a mandatory requirement of a minimum account balance for all of its customers last month. And the customers who would fail to maintain the minimum account balance (MAB) would be penalised.

It was stated by the bank that the monthly average balance (MAB), was to be determined on the basis of the region of residence of the user and the amount of balance in the account.

What you have to say about this hike in charges from SBI ??? What do you think is the reason for recent changes in SBI Policies. And don’t forget to LIKE FACEBOOK PAGE of SunoBawa and get all news updates there.

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