SBI ATM cash withdrawal rules, charges to change

Starting from next month, State Bank of India (SBI) is all set to change the rules and charges for cash withdrawals from its ATMs and bank branches. The new charges will be applicable for Basic Savings Bank Deposit (BSBD) account holders. There will be a host of changes on ATM cash withdrawals from cheque books to non-financial transactions, the lender mentioned. Know new rules

The changes will be applicable for SBI Basic Savings Bank Deposit account holders. Touted as zero balance savings account, SBI Basic Savings Bank Deposit account is meant for poorer sections of society to encourage them to start saving without any burden of charges or fees. Any individual who has valid KYC documents, can open a BBSD account in SBI.

ATM Withdrawal charges, For BSBD account holders, there will be four free cash withdrawals available — including ATMs and bank branches every month. The bank will apply a fee of ₹15 plus GST for every transaction beyond the free limit. The charges on cash withdrawal will be applicable at home branch and ATMs and non-SBI ATMs.

Cheque Book Charges, State Bank of India will provide 10 cheque leaves in a financial year to BBSD account holders. After that, SBI will charge certain amount for providing cheques.

Cash Withdrawal at Branches, The bank will not impose any charges for non-financial transactions by BBSD account holders at home and non-home branches. Transfer transactions will also be free at the branch and alternate channels for BSBD account holders, the lender said.