SBI Customers To Shell Out More Money Towards Banking Services?:- As the country’s biggest banker has revised rates on the services such as debit card, home loan processing fee, SMS alerts, issuing of cheque books, cash handling charges and locker rentals, the customers of State Bank of India (SBI) will have to shell out more money towards banking services.
Since the services attract higher tax rates under the GST, the bank has decided to revise the rates. The new tax regime - the GST, brought in by the Narendra Modi-led BJP government came into effect earlier this month. Under the GST, all the financial services will be taxed, against the earlier service tax rate of 15%.
For withdrawing money from an ATM through State Bank Buddy, the SBI will charge Rs 25. For transferring funds from app SBI Buddy to savings bank account, 3% of tax will be charged.
- Rs 5 plus tax for transferring Rs 1 lakh
- Rs 15 plus tax for above Rs 1 lakh and upto Rs 2 lakh
- Rs 25 plus tax for above Rs 2 lakh to Rs 5 lakh
- Rs 18+GST for a 10-leaf cheque book
- Rs 75+GST for a 25 leaf cheque book
- Rs 150+GST for 50-leaf cheque book
- RuPay classic cards will be issued for free
- New debit cards to charged from June 1
The bank will charge Rs 2 plus tax for exchange of soiled notes more than 20 in number, the whole amounting to Rs 5,000.