These service charges to be applicable by SBI 1st June 2017 onward.

India’s largest public sector bank SBI is once again going to apply various service charges 1st June 2017 onward. With these service charges being applicable, various services provided by the bank which are free now will make customers to pay services charges. Let’s know these services charges so that as customer of bank you could transact accordingly to avoid these charges to pay.

Rs. 2 to 5 for exchanging notes – If you exchange soiled, mutilated or ripped currency notes for the bank, you will have to pay Rs 2 to 5 plus service tax on exchange. If customer exchanges notes numbered 20 or more and if value of notes is more than Rs 5000, service charges will be applicable. If the number of notes are less than 20 or value of notes are less than 5000, there will be no charges to be paid. For example, if customer exchanges 25 notes, there will not be any charges will 20 notes and bank will charge for 5 notes @ 2 Rs per note + service tax. Same, if numbers of note are less than 20 but value of notes has exceeded Rs 5000, service charges will have to be paid.

Free cash withdrawal transaction – The current free unlimited withdrawals from ATMs and cash counters is going to be chargeable. For basic savings accounts, free numbers of withdrawals will be four in a month which include both ATM and cash counter withdrawal. For more than 4 withdrawals in a month, charges will have to be paid by customer. For fifth and above number of withdrawals at bank cash counter, customers will be charged Rs 20 plus service tax for each withdrawal.

Debit card issuance charges – 1st June onward, SBI will charge issuance charges of debit cum ATM card. Only RuPay debit card will be issued without any cost whereas Visa and Master card will be issued after an issuance charges.

Withdrawal for SBI ATM – Five cash withdrawal from SBI ATM network will be free in a month. Sixth withdrawal onward, Rs 10 plus service taxes will be applicable for each transaction.

NEFT & RTGS charges through Net Banking –
Up to Rs 10000 – Rs 2 + ST
Above 10000 to Rs 1 Lac – Rs 4 + ST
Above 1 Lac to 2 Lac – Rs 12 + ST
Above Rs 2 Lac – Rs 20 + ST

RTGS through Net Banking –
Rs 2 Lac to Rs 5 Lac – Rs 25 + ST
Above 5 Lac – Rs 45 + ST