06/03/2017
The country's largest bank will permit savings bank account holders to deposit cash three times a month free of charge and levy Rs 50 plus service tax on every transaction beyond that.
After a gap of five years, State Bank of India has decided to reintroduce penalty on non-maintenance of minimum balance in accounts from April 1, and revised charges on other services, including ATMs.
The country's largest bank will permit savings bank account holders to deposit cash three times a month free of charge and levy Rs 50 plus service tax on every transaction beyond that. In case of current account, the levy could go as high as Rs 20,000.
From March 1, private banks such as HDFC, ICICI and Axis had started levying a minimum charge of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.
