In the midst of the raging Covid-19 epidemic, the State Bank of India (SBI) has temporarily raised the limit for non-home branches cash withdrawals for self and also allowed non-home cash withdrawal by third-parties at its branches, to avoid customers to visit their respective bank branch to satisfy their immediate cash needs. The bank has increased the cash withdrawal limit to Rs 1 lakh using a cheque. The limit for self-withdrawals (using a withdrawal form) backed by a Savings Bank Passbook has been raised to Rs 25,000. Cash withdrawals by a third party, which were earlier prohibited, have been limited to Rs 50,000 per day by cheque only.
Customers in the 'Personal' category can take advantage of the above-mentioned update in non-home transaction thresholds until September 30, 2021. Meanwhile, SBI has revised the cash withdrawal and cheque book charges for SBI Basic Savings Bank Deposit (BSBD) account holders, which will take effect from July 1, 2021. The new charges would apply to ATM withdrawals, cheque book, transfers, and other non-financial transactions. The new service charges for SBI Basic Savings Bank Deposit (BSBD) account holders can be located here.