State Bank of India's new charges on ATM withdrawals, new transactions applicable from today

The largest lender of the country, State Bank of India has revised service charges on ATM withdrawal for users of its mobile app ‘SBI Bank Buddy’ and other cash transactions from June 1.

SBI has said that the Rs. 25 charges will be levied only when money is withdrawn from an ATM through the bank’s mobile wallet app.

Let’s have a look at the revision in Service charges

Description of Service Charge                   Revised Rate  

(A) IMPS Fund Transfer Charges through INB/MB/UPI/USSD 

(i) Upto Rs. 1 Lac                                  Rs. 5/- +Service Tax 

(ii) Above Rs. 1 Lac upto Rs. 2 Lacs          Rs. 15/- +Service Tax 

(iii) Above Rs. 2 Lacs upto Rs. 5 Lacs        Rs. 25/- +Service Tax 

(B) Service Charges for exchange of Soiled/Imperfect Notes 

(1) Upto 20 pieces and value upto Rs.5,000/ - Nil 

(2) More than 20 pieces and / or value more than Rs.5,000/

More than 20 pieces - Rs.2/- per piece on entire tender + Service Tax

Value above Rs.5,000/- Rs.2/- per piece or Rs.5/- per 1000 + Service Tax whichever is higher on entire tender 

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Service Charges for Basic Savings Bank Deposit (BSBD) accounts 

(1) Issue of Cheque book -  10 Leaf Cheque Book at Rs. 30/- + Service Tax

(2) 25 Leaf Cheque Book at Rs. 75/- + Service Tax 

(3) 50 Leaf Cheque Book at Rs. 150/- + ST 

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Issue of ATM Card – Only RuPay classic card will be issued free of cost 

Withdrawals - Four withdrawals in a month including ATM withdrawals free of charges.

(1) Beyond 4 withdrawals: At Branch- Rs 50/- + Service Tax per transaction.  

(2) At other bank ATMS- Rs. 20/- + Service Tax per transaction.

(3) SBI Bank ATMs- Rs. 10/- + Service Tax per transaction.

APPLICABLE FOR STATE BANK BUDDY WALLET CUSTOMERS ONLY

STATE BANK BUDDY : Service Charges

(1) Cash withdrawal from Wallet Balance through ATM - Rs. 25/- per transaction

(2) Cash Deposit into Wallet through Business Correspondent (BC): Upto Rs.10000/- (multiples of 100) - 0.25% of the txn value (Min. Rs. 2, Max. Rs. 8) + Service Tax

(3) Cash Withdrawal from Wallet Balance through Business Correspondent (BC): upto Rs.2000/- (multiples of 100) - 2.50 % of the txn value (Min. Rs. 6) + ST