The State Bank of India, one of the largest banks of the country, has revised some of the rules regarding checkbooks, cash withdrawals, and non-financial transactions. The new services will come into effect from July 1, 2021.
What is a BSBD account?
State Bank%u2019s BSBD account is popularly known as a Zero balance saving account, which is meant for the poorer section of the society. Under this, the bank offers the same interest rate on zero balance accounts as on regular savings bank accounts.
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As per the new rules, there will be four free cash withdrawals available and after every transaction, the bank will apply a fee of Rs 15 plus GST beyond its free limit. The charges on cash withdrawal will be on the home branch and ATMs and non-SEBI ATMs.
The SBI will provide:
10 leaf cheque book at Rs 40 plus GST
25 leaf cheque book at Rs 75 plus GST
10 leaf emergency cheque book at Rs 50 plus GST
Amid the second wave of the COVID-19 pandemic, the SBI%u2019s official account on Twitter stated that the bank has also increased the ceiling for cash withdrawal by their customers at non-home branches. The cash withdrawal through the withdrawal form has been increased to Rs 25,000 per day and for the third party, the withdrawal has been fixed at 50,000 per month.
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The customers of the State Bank of India must keep in mind that the revised limits are valid till September 30, 2021.
