Details of SBI’s new Service Charges commencing from 1st June 2017

ATM charges

All cash withdrawals through ATM- by customer of its mobile wallet State Bank Buddy – will now be charged at Rs. 25 per transaction. Beyond four withdrawals in a month, for basic savings bank deposit account the Service Charges applicable will be Rs. 50 plus Service Tax per Transaction; Rs. 20 plus Service Tax at other Banks’s ATM; Rs. 10 plus Service Tax for SBI’s Own ATM. All normal saving bank account will continue to get eight free ATM transaction in metros and 10 free transaction in non-metros.


Online Transfer

IMPS fund transfer charges through internet banking/UPI/IUSSD will be Rs. 5 plus Service Tax for amount of upto Rs. 1 lakh and Rs. 15 plus Service Tax for amount more than Rs. 1 lakh and upto Rs. 2 lakh and Rs. 25 plus Service Tax for amount more than Rs. 2 lakh and upto Rs. 5 lakh.


Deposits through banking correspondents

Cash deposit through banking correspondent of upto Rs. 10000 will be charged at 0.25% of the value with a minimum of Rs. 2 and Maximum of Rs. 8 plus Service Tax. Cash withdrawal through banking correspondents upto Rs. 2000 will be charged at Rs. 2.50% of the transaction value but minimumof Rs. 6 plus Service Tax.



Only RuPay classic cards will be issued for free.


Cheque Book Charges

Issue of a 10-leaf cheque book will now cost Rs. 30 plus Service Tax, 25-leaf book Rs. 75 plus Service Tax and 50-leaf book will cost at Rs. 150 plus Service Tax.


Exchange of bad currency notes

Service charges for exchange of soiled/imperfect notes upto 20 pieces and value of Rs. 5000 will not be charged. More than 20 piece will take Rs. 2 per pieces plus Service Tax. For value above Rs. 5000 Rs. 2 per pieces plus Service Tax or Rs. 5 per 1000 plus Service Tax whichever higher will be charged.


Source – Economic Times

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