State Bank of India (SBI) has revised various service charges on Basic Savings Bank Deposit (BSBD) accounts holders. New charges were made effective from 1-Jul-2021.

BSBD account, (popularly known as Zero balance accounts), was designed to offer certain minimum facilities, free of charge, to the account holders. Such accounts are primarily aimed at enhancing financial inclusion among the economically weaker sections.

Cash withdrawal at SBI branches/ATMs

The bank will recover charges beyond four free cash withdrawal transactions every month. This includes the transactions done at a branch as well as a bank ATM. The bank will apply a fee of ₹15 plus GST for every transaction beyond the free limit. The charges on cash withdrawal will be applicable at the home branch and ATMs and non-SBI ATMs.

Chequebook charges

SBI would provide 10 cheque leaves free of cost in a financial year to BSBD account holders. Post that, SBI will charge following amount for providing cheques.

10 leaf cheque Book at ₹40 plus GST
25 leaf cheque Book at ₹75 plus GST

Emergency Cheque Book: ₹50 plus GST for 10 leaves or part thereof.

However, senior citizens will be exempted from these new service charges on cheque book.

Charges on non-financial transactions

No changes for any of the non-financial transactions made by BSBD account holders.