State Bank of India has changed the various charges for Basic Savings Bank Deposit (BSBD) account. The bank will charge BSBD account holders a fee for withdrawing cash more than four times in a month.
If you are a customer of the country’s largest bank i.e. State Bank of India (SBI), then this news is of your use. State Bank of India has changed the various charges for Basic Savings Bank Deposit (BSBD) account. The bank will charge BSBD account holders a fee for withdrawing cash more than four times in a month. Along with this, the bank will also charge a fee for checkbooks of more than 10 checks. The bank will charge Rs 15 to Rs 75 as ‘Additional Value Added Service’ fee for these services. These new charges will be effective from July 1, 2021.
Non-financial transactions and transfer transactions through branches, ATMs and CDMs (Cash Dispensing Machines) will be absolutely free for BSBD account holders.
State Bank of India (SBI) has said that it will charge Rs 15 + GST charges on every transaction made at bank branches, SBI ATMs or ATMs of any other bank after four free cash withdrawals in a month.
Talking about checkbook service, a checkbook with 10 check leaves will be available absolutely free of cost in a financial year. After that, for a checkbook with 10 check leaves, you will have to pay Rs 40 + GST. Similarly, for 25 check leaves, you will have to pay Rs 75 + GST. For emergency checkbook of 10 check leaves, you will have to pay Rs 50 + GST.
The public sector bank said, “Senior citizens are exempted from (checkbook services).”
Who can open BSBD Account
- If you have valid KYC document then you can open BSBD account. The goal of this type of account is to connect the poor and deprived sections of the society with banking services.
- According to a study by IIT Bombay in April this year, SBI earned Rs 300 crore as service charge from 12 crore BSBD account holders during 2015-20.
