SBI revises service charges on ATM withdrawals and other banking activities.


The largest public sector lender, SBI, announced its revised service charges on ATM withdrawals and other banking activities today. As per the revision, SBI will charge an amount of Rs. 25 on ATM withdrawals done through its mobile wallet app, SBI Bank Buddy. The new service charges  of SBI will be effective from June 1, 2017. However, the bank will issue its RuPay Classic Card free of cost.

SBI revises its service charges for various banking activities

Listed below are the revised service charges of SBI on various banking activities:

Revised service charges on IMPS Fund Transfer Charges through UPI/USSD/ INB/MB:

Upto Rs. 1 lakh                               Rs. 5 + service tax
Rs. 1 lakh above  and upto Rs. 2 lakhs           Rs. 15 + service tax
Rs. 2 lakhs above and upto Rs. 5 lakhs         Rs. 25 + service tax

New service charges for exchange of Soiled or Imperfect Notes

Upto 20 pieces and/or value of Rs.5,000    Nil
More than 20 pieces and / or value more than Rs.5,000 Rs.2/ per piece and Rs. 5 for per 1000 + service charge.  

New service charges for issuing cheque books for Basic Savings Bank Deposit accounts:

Cheque book with 10 leafs Rs. 30 + service tax
Cheque book  with 25 leafs Rs. 75 + service tax
Cheque book with 50 leafs Rs. 150 + service tax

Revised ATM withdrawal charges:

Customers can make four withdrawals in a month without paying any charges. After that, SBI will charge the following charges :

After 4 withdrawals  at branch Rs 50/+ service tax per transaction.  
Withdrawals done at  ATMs of other banks Rs. 20/+ service tax per transaction.
Withdrawals at SBI Bank ATMs Rs. 10/+ service tax per transaction.

New service charges for State Bank Buddy:

The  following services charges will be applicable for State Bank Buddy Wallet customers only.

Cash withdrawal from wallet through ATMs. Rs. 25/ per transaction
Cash deposit upto Rs.10000 into wallet done via business correspondent. 0.25% of the txn value/ minimum of Rs. 2 and maximum of Rs. 8 + service tax
Cash withdrawal up to Rs.2000 from wallet through business correspondent. 2.50 % of the txn value/ minimum of Rs. 6 + service tax.


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