The SBI has declared new rules and Panelity Charges on Cash Deposit, Atm Withdrawal, Transaction Limit, Minimum Balance, etc. SBI New Rules will applicable from 1st April 2017. Here in this post you will get the important Rules that change by SBI which you should know. So Read Full article.

State Bank of India New Rules from 1st April 2017

SBI New Rules will going to affect 31 crore depositors including pensioners and students. As we all are aware that SBI is one of the leading commercial bank. The five associate banks of SBI going to merge with country’s largest lender, State Bank of India (SBI) with effect from April1, 2017. The undertaking of SBBJ (State Bank of Bikaner & Jaipur), SBM (State Bank of Mysore), SBT (State Bank of Travancore), SBP (State Bank of Patiala) and SBH (State Bank of Hyderabad) will vest in the hands of State Bank of India (SBI). The cabinet sanctioned this acquisition on February 15, 2017. Prior to this, SBI first merged State Bank of Saurashtra with itself in 2008 and later on State Bank of Indore.

SBI New Rules from 1st April onwards, SBI is going to charge a penalty on non-maintenance of minimum balance on accounts. The penalty will also be applicable on ATM transactions and other services. With the permission of Reserve Bank of India (RBI), SBI has decided to levy charges for breaching the minimum balance limits. Earlier in 2012, the State Bank of India had suspended the charges on breach of minimum balance limit.

SBI New Rules for Cash Deposit Transaction :

SBI will permit savings bank account holders to deposit and withdraw cash only three times a month free of charge. Beyond that, it will charge Rs 50 plus service tax for every transaction.

SBI New Rules for Minimum Balance :

Failure to maintain a minimum balance amount in your account quarterly will attract a fine. For instance, for accounts held in metros branches, the balance required is Rs 5,000. If the amount falls below Rs 3,750 (or 75 percent), the penalty is Rs 100 plus service tax. If the amount falls to Rs 2,500, the bank will charge Rs 50 plus service tax. The charges and minimum account balance vary across metro, urban, semi-urban and rural areas. Rural branches attract the least.

State Bank Rules for ATM Withdrawal :

Withdrawal of cash from ATMs will attract a charge of up to Rs 20 if the number of transactions exceeds three time.  Other bank’s ATMs in a month and Rs 10 for more than five withdrawals from SBI ATMs.

There’s some respite for account holder who have a balance of more than Rs 25,000. The bank will not levy any charge on withdrawals from its own ATMs on such accounts. And if your balance exceeds Rs 1 lakh, transactions from other banks’ ATMs will not be charged.

Other New SBI Rules

  • Even SMS alerts will not spared. For accounts holding quarterly balance of Rs 25,000 or less, SMS alerts will be charged Rs 15 per quarter.
  • There will be no charge for UPI/ USSD transactions of up to Rs 1,000. Beyond Rs 1,000, there are charge
  • Savings bank account holders will permitted to deposit cash three times a month free of cost. Apart from this, Rs. 50 + service tax will be applicable for every other (Extra) transaction.
  • For the current account holders, the cash transaction charges will be levied up to Rs.20,000/-.
  • If the customers fail to maintain Monthly Average Balance (MAB) in accounts, then 50 to Rs 100 plus service tax per month will be applicable. The description of charges is given below.
  • In metropolitan cities, if the amount is below 75% of the Monthly Average Balance (MAB) then Rs 100 plus service tax will be levied. If the amount is 50 percent or less of the MAB then Rs 50 plus service tax will be levied.


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