SBI NEW RULES for Bank Transaction

SBI New Rules for ATM 

SBI Transaction Rules
With the introduction of new rules, SBI will no longer be the Banker to Every Indian !!

 

SBI NEW RULES FROM 1st APRIL 2017

  1. 3 times deposit free in your account. After more than 3 times deposit, you will pay 50/- per deposit.
  2. Minimum 5000/- balance to be maintained in metro city branch account holder.
  3. Minimum 3000/- balance to be maintained in city/town branch account holder.
  4. Minimum 2000/- balance to be maintained in semi-urban area branch account holder.
  5. Minimum 1000/- balance to be maintained in villages branch account holder
  6. If you do not maintain a minimum amount in your account, you will pay up to Rs.200/- + extra surcharge. (depending on the number of days)
  7. SBI ATM free for 5 times use, after 5 times you will pay 10/- per transaction.
  8. Other bank ATM free for 3 times use, after 3 times you will pay 20/- per transaction.
  9. Unlimited SBI ATM use without any charges, If you maintain 25000/- in your SBI savings account.
  10. Unlimited SBI & OTHER BANK ATM use without any charges, If you maintain 100000/- in your SBI savings account.
  11. 15/- SMS charge you will pay after 3 months, (SMS charge-free, If you maintain 25000/- in your SBI savings account)

ALL Branch Transaction Rule :

Bank NameFree transactions (month)Fees for Transactions Beyond Free Limit
 Own Bank ATMOther Bank ATMFinancialNon-Financial
HDFC Bank53Rs.20 + service taxRs.8.50 + service tax
Punjab National BankUnlimited5Rs.20Rs.20
IDBI BankUnlimited5Rs.20Rs.8
Axis Bank53Rs. 20+ service taxRs. 9.55
KotakUnlimited5Rs.20 + service taxRs.8.50 + service tax
ICICI Bank53Rs. 20+ service taxRs.8.50 + service tax
Citi BankUnlimitedUnlimited  
State Bank of IndiaUnlimited (for salary accounts)Unlimited (for salary accounts)
Canara BankUnlimited5Rs.20 + service taxRs.10 + service tax
Bank of BarodaUnlimitedDepends on the policies of those banksRs.20 + service taxRs.10 + service tax

ATM withdrawal charges for SBI 

Average Monthly Balance Same branch ATMsOther Bank ATMs (metro)Other Bank ATMs (non-metro)
Less than Rs.1000535
More than Rs.1000 to Rs.25,000535
More than  Rs.25,000 to Rs.50,000no limit35
 More than Rs.50,000 to Rs.1,00,000no limit35
More than  Rs.1,00,000no limitno limitno limit

 

Now the question arises what actually should be done ??

SBI Transaction Rules
SBI Transaction Rules

 

 

 

 

 

 

 

To withdraw your own money you have to pay a service charge to the Bank. You pay service tax on the service charge to the government. Then why do we plan to put in a bank account? If it looks like a step towards a digital India then we should not forget that maximum SBI user or better say maximum users in India are ignorant of the technology i.e they lack mobile banking, online transnational knowledge, digital payment usage security measures.

Giants Like SBI should have planned some mass movement in terms of digitization in the rural areas by giving them training. They should first educate common people about the usage of digital methods. But if you read their new clauses you will realize that the steps are actually aimed to hold money in the bank and not digitization.

Insensitive Step by SBI

Common people of country are not ready for these new changes. By introducing them,these banks have shown their Insensitivity towards their customers .

In order to save ourselves from the  transaction fees, we can proceed towards training and learning the usage of mobile banking , online transaction and paying utilities via Credit/Debit card as much as possible .

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