Many new changes are coming for the customers of State Bank of India (SBI) from 1st July 2021. This includes issuing checkbooks to bank ATMs, including cash withdrawals from branches of other financial institutions. SBI has applied this change to the original savings bank account i.e. BSBD. According to which now only 4 transactions in a month can be free. This includes both branch and ATM cash withdrawals. The rules have also been changed by taking the check book in this way.
What is the charge on cash withdrawal?
According to SBI, cash withdrawals from both branches and ATMs will be charged from 1 July 2021. 4 transactions will be free. There will then be a Rs 15 plus GST charge on the track transaction. The same charge will be levied on cash withdrawals from bank ATMs other than SBI.
Get a 10 page checkbook for free
BSBD account holders from SBI will be given a free 10 page checkbook. Thereafter, a charge will be levied for taking more checkbooks or taking more pages. This rule will take effect from 1 July. Under which Rs 40 plus GST charge will be applicable on 10 page check book, Rs 75 plus GST will be charged on 25 page check book and Rs 50 plus GST will be charged for emergency check book. However, senior citizens are exempted from this checkbook usage limit.
What is SBI Basic Savings Bank Deposit Account
This account can be opened through KYC. It will also have an ATM cum debit card. This will allow you to withdraw 4 cash from any bank's ATM for free. This savings account is currently offering an interest rate of 2.70% per annum.
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