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SBI will change service charges from October 1, these are new service charges

Public sector bank State Bank of India is going to change its service charges from October 1.

26th September, 2019

Public sector bank State Bank of India is going to change its service charges from October 1. The bank has made these changes in the charges on facilities like average monthly balance, deposits, withdrawals, NEFT, RTGS, and ATMs.

SBI has reduced the average monthly balance for the urban area and now from October 1, this amount will be reduced from Rs 5,000 to Rs 3,000. From October 1, you will have to keep your average monthly balance of Rs 3,000, if it remains up to around 50 percent, ie Rs 1500, then the fee will be Rs 10 plus GST. If there is less than 75% of the average monthly balance in the account, then Rs 15 plus GST will be charged a fee. An amount of 50 to 75 percent of the average monthly balance in the account will be charged as Rs 12 plus GST fee.

There will be no charge for transactions through the bank's RTGS and NEFT. These facilities have been made free from July and these facilities will be charged again from October 1. While Rs 2 and GST on NEFT transactions up to Rs 10,000, Rs 4 and GST on NEFT transactions between Rs 10,000 and Rs 1 lakh, Rs 12 on NEFT transactions ranging from Rs 1 lakh to Rs 2 lakh and GST and NEFT of over Rs 2 lakh. The transaction will be charged as Rs 20 plus GST fee. At the same time, RTGS transactions ranging from Rs 2 lakh to Rs 5 lakh will be charged as Rs 20 plus GST and Rs 40 plus GST on RTGS transactions above Rs 5 lakh.

This transaction will be charged on ATM transaction-
General Savings Bank account holders can do 8 free transactions from ATMs, out of which 5 transactions will be from SBI ATMs and three transactions will be from other bank ATMs. Account-holders in non-metro cities will be able to do 10 free transactions, of which 5 will be for SBI ATMs and five for other bank ATMs. SBI will charge from Rs 5 plus GST to Rs 20 plus GST for transactions beyond the prescribed limit. There will be free unlimited transactions at all bank ATMs including SBI for salary account holders.

Category: Business

Tags:
SBI
GST
service charges
India
ATM

Reported by:
Abhishek Roy