SBI to cap free withdrawals at four from July

State Bank of India (SBI) would levy service charge on cash withdrawals beyond four free transactions at its branches and ATMs for basic savings bank deposit accounts, effective July 1.

The lender said it would collect ₹15 plus GST per cash withdrawal from its own ATMs and branches as well as other bank ATMs.

The first 10 cheque leaves would be free in a financial year. Thereafter, ₹40 plus GST would be collected for a 10-leaf cheque book and ₹75 plus GST for a 25-leaf cheque book respectively. For an emergency cheque book, ₹50 plus GST for 10 leaves or part thereof would be collected. Non-financial transactions and transfer transactions would be free, SBI said.

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