Business News: SBI to adjust ATM cash withdrawal charges and cheque book charges for BSBD account holders..
India’s largest lender, the State Bank of India (SBI), has changed service charges for Basic Savings Bank Deposit Account (BSBD) holders to take effect from July 1. “The new fees will apply to ATM withdrawals, checkbooks, wire transfers and other non-financial transactions,” the bank said on its website.
The country’s leading lender, the State Bank of India (SBI), has changed the service charges for holders of basic savings bank (BSBD) deposit accounts. The new rates would apply to ATM withdrawals, checkbooks, transfers and other non-financial transactions, SBI mentioned on its website. The new service charges will take effect from July 1, 2021.
An SBI BSBD account, known as a zero balance savings account, aims to encourage the economically weaker sections of the company to start saving without the burden of fees or commissions. The bank offers the same interest rate to these accounts as it does to regular savings accounts.
Charges will be applied after four free cash withdrawals (including ATM and branch) in one month. Thereafter, Rs 15 plus GST will be charged to all SBI and non-SBI ATMs. No charges on non-financial transactions by BSBD account holders at SBI and non-SBI bank branches.