SBI has also revised service charges on various cash transactions for its customers, effective June 1. Here are some of the other key changes:
Online Transfers: Online fund transfer through IMPS or Immediate Payment Service will now be charged Rs. 5 plus service tax for amounts of up to Rs. 1 lakh; Rs. 15 plus service tax for above Rs. 1 lakh and up to Rs. 2 lakh; and Rs. 25 plus service tax for above Rs. 2 lakh and up to Rs. 5 lakh.
Exchange of Soiled Notes: If a customer wishes to exchange of more than 20 soiled notes or if the total value of soiled notes is above Rs. 5,000, SBI said it will charge Rs. 2 plus service charge for every soiled note.
Cheque Books: From June 1, a customer with a Basic Savings Bank Deposit will have to pay Rs. 30 plus service tax for a 10-leaf cheque book, Rs. 75 with service tax for 25-leaf cheque book and Rs. 150 plus service tax for a 50-leaf cheque book.
Charges on ATM Cards: SBI said that issuance of new debit cards will be charged from June 1 and only RuPay classic card will be issued for free.
Cash Withdrawals: Customers with a Basic Savings Bank Deposit will get four free withdrawals (including ATM) in a month, after which withdrawals will be charged at Rs. 50 plus service tax at an SBI branch and at Rs. 20 plus service tax at other bank ATMs