New Cash Withdrawal, Deposit Rules Of Sbi

The State Bank of Republic of Republic of India (SBI) has late announced that it volition outset charging its trouble organisation human relationship holders a penalty if they neglect to hold a minimum residual in their savings account. According to the novel rules effective from Apr 1, it is mandatory for accounts to hold a residual of Rs 5,000 inwards metropolitan areas, Rs 3,000 in urban areas, Rs 2,000 inwards semi-urban areas together with Rs 1,000 inwards rural areas.
Important Points to Note :

  • As per the listing of revised charges of SBI, failure to hold Monthly Average Balance (MAB) inwards accounts volition attract punishment of upward to Rs 100 summation service tax.
  • In metropolitan areas, at that topographic point volition live on a accuse of Rs 100 summation service tax, if the shortfall is below 75 per cent of the MAB of Rs 5,000. If the shortfall is fifty per cent or less of the MAB, thence the banking corporation volition accuse Rs fifty summation service tax. The charges together with MAB varies according to the place of bank. It is minimum inwards representative of rural branches.
  • Withdrawal of cash from ATMs volition attract a accuse of upward to Rs twenty if the divulge of transactions exceeds 3 from other bank’s ATMs inwards a calendar month together with Rs 10 for to a greater extent than than v withdrawals from SBI ATMs.
  • However, SBI volition non levy whatever accuse on withdrawals from its ain ATMs if the residual exceeds Rs 25,000. In representative of other banks’ ATM at that topographic point volition live on no accuse if the residual exceeds Rs i lakh.
  • SBI volition accuse Rs fifteen for SMS alerts per quarter from debit bill of fare holders who hold average quarterly residual of upward to Rs 25,000 during the 3 months period. There volition live on no accuse for UPI/ USSD transactions of upward to Rs 1000.
  • The banking corporation had suspended levying charges on breach of minimum residual requirements inwards 2012 to stimulate down novel customers. The charges are straightaway existence reintroduced from Apr 1. The Reserve Bank has permitted banks to levy charges for breaching minimum residual limit.
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