SBI changes service charges on various transactions; find out what they are

State Bank of India (SBI) has revised service charges on various cash transactions for its customers. 

The bank said that now customers will be charged Rs 25 per transaction on every cash withdrawal from ATMs. The bank will also charge on issue of ATM cards except RuPay, henceforth.

Cash deposit through Banking Correspondents (BC) up to Rs 10,000 (multiples of 100) will be charged 0.25% of the value plus services tax. However, cash withdrawal through BC route up to Rs 2000 will be charged with 2.50% plus tax.

Service charges on transaction through IMPS portal has also been changed. 

Any one making upto Rs 1 lakh transfer on IMPS will be charged with Rs 5 per transaction plus service tax. 

Between Rs 1 lakh – Rs 2 lakh and Rs 2 lakh – Rs 5 lakh, service charges are at Rs 15 and Rs 25 each plus service tax.

For solid or imperfect notes, up to 20 piece and Rs 5,000 no charges will be levied but more than 20 piece and Rs 5,000 will see charges of Rs 2 per piece and Rs 5 per 1000 plus service tax.

On Basic Savings Bank Deposit (BSBD) account, no charged will be levied for four withdrawals, more than that Rs 50 plus service tax will be charged at any SBI branch, while at any other bank Rs 20 plus tax.

On ATMs, cash withdrawal from savings account will be charged with Rs 10 per transaction plus service tax.

These new revision in service charge will be in effect from June 1, 2017.

In the month of March 2017, many private banks took lead to reintroduce cash transaction charges, SBI at that time had made some revisions too.