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What Are The New SBI Service Charges?
Customers will have to pay more for banking services such as debit card, home loan processing fee, locker rentals, issuing of cheque books, cash handling charges, and SMS alerts would have a higher tax.
SBI has revised service charges on various cash transactions for its customers. The new changes came in to effective from June 1.
Service tax of 15% replaced with GST tax rate of 18%. Rs 25 plus to be levied on ATM withdrawal via State Bank Buddy. Customers now need to pay Rs 30 along with 18 per cent GST for a 10-leaf cheque book. SBI will charge Rs 2 plus tax for every soiled note.
Here are some of the key changes:
Online transfer
For transferring up to Rs 1000, there are no IMPS service charges. Online fund transfer through IMPS or Immediate Payment Service is charged Rs 5 plus tax for amounts of up to Rs 1 lakh. Rs 15 plus tax for above Rs 1 lakh and up to Rs 2 lakh, and Rs 25 plus tax for above Rs 2 lakh and up to Rs 5 lakh. Service charges on IMPS Funds transfer using UPI and USSD mode is waived up to 30.09.2017. SBI Hikes Minimum Balance For Savings Account: Know The Charges
Exchange of soiled notes
Exchanging notes up to 20 pieces and value up to Rs 5,000 are completely free. If a customer wants to exchange of more than 20 soiled notes or if the total value of soiled notes is above Rs 5,000, SBI would charge Rs 2 plus tax for every stained note. How To Link Aadhaar Card To SBI Account Via ATM?
Cheque books
A customer with a Basic Savings Bank Deposit will have to pay Rs 30 plus GST of 18 per cent for a 10-leaf cheque book now. Rs 75 with GST for 25-leaf checkbook and Rs 150 plus tax for a 50 leaf cheque book.
Charges on ATM cards
Only RuPay classic card will be issued free of cost by SBI. The issuance of new debit cards would be charged from June 1, and only the RuPay classic card will be issued for free. What Is SBI QUICK? How To Get It And Avail The Services?
