INSUBCONTINENT EXCLUSIVE:
SBI offer ATM-cum-debit cards but levy certain usage charges.State Bank of India or SBI, the country's largest lender, offers a wide range
of services under its personal banking segment
From deposit schemes to ATM services, from net banking facility to money transfer services, the lender provides a variety of options for
However, the bank also charges customer for some of its services
The lender has also fixed a certain monthly average balance (MAB) requirement for its savings bank account customers
Customers failing to meet the MAB requirements have to bear certain penalty charges.Regular savings account opening/closing chargesFor SBI
customers, there are no account opening and closure charges, according to the website of the lender- sbi.co.in.ATM card usage chargesSBI
offer ATM-cum-debit cards but levy certain usage charges
Customers are charged for transactions at ATMs over and above the permitted number of free transactions
SBI's ATM cards as stated on bank's website:Debit Card Issuance ChargesNormal (Classic/Global)NilGold Debit Card100/- (including
tax)Platinum Debit Card306/- (including tax)Debit Card Annual Maintenance Charges (Recovered at the beginning of the second year
onwards)Classic Debit Card100/- plus taxSilver/Global /Yuva /Gold Debit Card150/- plus taxPlatinum Debit Card200/- plus taxPride/Premium
ruleCustomers holding regular savings accounts with the bank are required to maintain a monthly average balance (MAB) to the tune of
75%Rs 15 + GST(As mentioned on sbi.co.in)Customers with accounts in semi-urban areas are required to maintain an average monthly balance of
The lender charges a penalty amount ranging from Rs 7.5 plus GST to Rs 12 plus GST from customers failing to comply with the minimum balance
rules in its semi-urban branches.Semi-urban branch (required MAB Rs 2,000)ChargesShortfall 50-75%Rs 10 + GSTShortfall > 75%Rs 12 + GST(As
The lender charges penalty to the tune of Rs 5-10 plus GST for non-compliance with the monthly average balance rules in these branches.Rural
(required MAB Rs 1,000)ChargesShortfall 50-75%Rs 7.50 + GSTShortfall > 75%Rs 10 + GST(As mentioned on sbi.co.in)Instant money transfer
service chargesSBI offers instant money transfer facilities such as Immediate Payment Service (IMPS) and National Electronic Funds Transfer
IMPS is an instant interbank electronic fund transfer facility that allows customer to transfer funds on a 24x7 basis and 365 days of the
10,000/-Rs.1/- + GST3Rs.10,001 to Rs 1,00,000/-Rs.2/- + GST4Rs 1,00,001 to 2,00,000/-Rs.3/- + GST(As mentioned on sbi.co.in)National
Electronic Funds Transfer or NEFT is a nation-wide payment system that enables electronic transfer of funds
Here are the NEFT charges levied by SBI as mentioned on its website:ItemTransaction SlabCharges (exclusive of Goods and Service Tax)Internet
on factors such as maturity period and amount of deposit.
