SBI Online: The State Bank of India (SBI) and other Indian banks have waived-off bank service charges on NEFT fund transfer and RTGS transfer fee from 1st January 2020. However, it doesn't mean all bank service charges have become free. In regular banking transaction, we lose money because we don't know the bank service charges rules. Therefore, it is well advisable for entire SBI customers to know the bank service charges levied by the SBI on its customers. For details, one can log in at the official website of SBI — sbi.co.in.

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Speaking on the bank service charges information and its importance in saving money for a bank customer Jitendra Solanki, a SEBI registered tax and investment expert said, "Bank service charges for NEFT and RTGS have been waived off from January 2020. However, bank services like a chequebook, bank transaction alert, debit or credit card, ATM money withdrawal, etc. are some other bank services that are charged subject to certain rules by various banks. Hence, a bank customer must know about the banking services he or she is using and the rules related to that bank service charges so that they can use that bank service charges information for avoiding any kind of additional money deduction from their savings account."

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Click here for the list of SBI Bank Service Charges

2] Minimum Balance: RBI has permitted banks to levy Minimum Balance Non-maintenance Charges, subject to compliance with certain guidelines for a suitable slab structure for recovery of charges. Recovery of charges should not turn into negative balance solely on account of levy of Service Charges. SBI savings account can be categorised into three types —  Metro & Urban Centre branches, Semi-Urban Centre branches and Rural Centre branches. Metro & Urban Centre branches SBI savings account requires Rs 3,000 average monthly balance while for Semi-Urban Centre branches and Rural Centre branches it is Rs 2,000 and Rs 1,000 respectively. Similarly, for not keeping the monthly average balance in Metro & Urban Centre branches SBI savings account is up to Rs 15 plus GST. Similarly, in Semi-Urban Centre branches and Rural savings account of an SBI customer penalty can be up to Rs 12 plus GST and Rs 10 plus GST.

3] ATM money withdrawal: As per the RBI guidelines, one can withdraw money through ATM transactions up to 5 times a month. Beyond that limit, one's ATM money withdrawal will attract bank service charges. So, an SBI customer is advised to fish out as much of cash from one's ATM transaction in the maximum five transactions that are enough to meet their cash needs. Missing one's debit or credit card may lead to some bank service charges for getting a new one for that. One should also know that resetting one's debit or credit card PIN is also chargeable by some banks. So, you are advised to know all the bank service charge details related to your debit and credit card.

4] Transaction alert: Sending transactions and other account-related information to the bank customer is aimed at securing safe and secure banking. However, to ensure safe and secure banking attracts bank service charges. SBI charges Rs 12 plus GST per quarter for sending SMS alert in regard to your SBI account like EMI, bill payments, etc.

5] Doorstep Banking: SBI offers doorstep banking to its customers. However, the SBI customer will have to pay for that. For non-financial doorstep, SBI bank service charge is Rs 60 plus GST while for financial door-step banking service charge by SBI is Rs 100 plus GST.