Service Charges Levied By State Bank Of India (SBI) For Different Facilities
State Bank of India or SBI, the country's largest lender, offers a wide range of services under its personal banking segment. From deposit schemes to ATM services, from net banking facility to money transfer services, the lender provides a variety of options for customer's requirements. However, the bank also charges customer for some of its services. The lender has also fixed a certain monthly average balance (MAB) requirement for its savings bank account customers. Customers failing to meet the MAB requirements have to bear certain penalty charges.
Here are different types of service fee and penalty charges levied by SBI:
Regular savings account opening/closing charges
For SBI customers, there are no account opening and closure charges, according to the website of the lender- sbi.co.in.
ATM card usage charges
SBI offer ATM-cum-debit cards but levy certain usage charges. Customers are charged for transactions at ATMs over and above the permitted number of free transactions. The ATM card charges apply depending on the type - whether it belongs to the same bank where the customer's account is located or some other bank- and nature of ATM - whether the ATM is located in a metropolitan or any other city in the country.Â
Here are the various charges of SBI's ATM cards as stated on bank's website:
| Debit Card Issuance Charges | Normal (Classic/Global) | Nil |
|---|---|---|
| Gold Debit Card | 100/- (including tax) | |
| Platinum Debit Card | 306/- (including tax) | |
| Debit Card Annual Maintenance Charges (Recovered at the beginning of the second year onwards) | Classic Debit Card | 100/- plus tax |
| Silver/Global /Yuva /Gold Debit Card | 150/- plus tax | |
| Platinum Debit Card | 200/- plus tax | |
| Pride/Premium Business Debit Card | 300/- plus tax | |
| Debit Card Replacement Charges | Rs.204/- (including tax) | Â |
| Duplicate PIN/ Regeneration of PIN | Rs.51/- (including tax) | Â |
| Domestic Transaction Charges | Transactions at State Bank Group ATMs | Free |
| Other Bank ATMs - Up to 5 Transactions during a calendar month (for savings bank account only) | Free | |
| Other Bank ATMs – Beyond 5 transactions(in Savings account) AND other than savings account: |  | |
| Financial Transaction: | 17/- (including tax) | |
| Non-Financial Transaction | 6/- (including tax) |
Â
Penalty charges for non-compliance of minimum balance rule
Customers holding regular savings accounts with the bank are required to maintain a monthly average balance (MAB) to the tune of Rs 1,000-3,000, which varies depending on branch location. The penalty charge for not maintaining the required MAB in SBI's metro and branches ranges from Rs 10 plus GST (goods and services tax) to Rs 15 plus GST, according to the bank's website.
| Metro and urban branch (required MAB Rs 3,000) | Charges |
|---|---|
| Shortfall <= 50% | Rs 10 + GST |
| Shortfall > 50-75% | Rs 12 + GST |
| Shortfall > 75% | Rs 15 + GST |
(As mentioned on sbi.co.in)
Customers with accounts in semi-urban areas are required to maintain an average monthly balance of Rs 2,000. The lender charges a penalty amount ranging from Rs 7.5 plus GST to Rs 12 plus GST from customers failing to comply with the minimum balance rules in its semi-urban branches.
| Semi-urban branch (required MAB Rs 2,000) | Charges |
|---|---|
| Shortfall <= 50% | Rs 7.50 + GST |
| Shortfall > 50-75% | Rs 10 + GST |
| Shortfall > 75% | Rs 12 + GST |
(As mentioned on sbi.co.in)
Customers holding an account in rural branch are required to maintain a monthly average balance of Rs 1,000. The lender charges penalty to the tune of Rs 5-10 plus GST for non-compliance with the monthly average balance rules in these branches.
| Rural (required MAB Rs 1,000) | Charges |
|---|---|
| Shortfall <= 50% | Rs 5 + GST |
| Shortfall > 50-75% | Rs 7.50 + GST |
| Shortfall > 75% | Rs 10 + GST |
(As mentioned on sbi.co.in)
Instant money transfer service charges
SBI offers instant money transfer facilities such as Immediate Payment Service (IMPS) and National Electronic Funds Transfer (NEFT). IMPS is an instant interbank electronic fund transfer facility that allows customer to transfer funds on a 24x7 basis and 365 days of the year. Here are the IMPS charges levied by SBI as mentioned on its website:
| No | Amount | Charge |
|---|---|---|
| 1 | Up to Rs.1000/- | No Charges |
| 2 | Rs.1001 to Rs 10,000/- | Rs.1/- + GST |
| 3 | Rs.10,001 to Rs 1,00,000/- | Rs.2/- + GST |
| 4 | Rs 1,00,001 to 2,00,000/- | Rs.3/- + GST |
(As mentioned on sbi.co.in)
National Electronic Funds Transfer or NEFT is a nation-wide payment system that enables electronic transfer of funds. Here are the NEFT charges levied by SBI as mentioned on its website:
| Item | Transaction Slab | Charges (exclusive of Goods and Service Tax) | Internet banking charges (exclusive of Goods and Service Tax) |
|---|---|---|---|
| NEFT | Up to Rs 10,000 | Rs 2.50 | Rs 1 |
| Â | Up to Rs1 lakh | Rs 5.00 | Rs 2 |
| Â | Above Rs 1 lakh to Rs 2 lakh | Rs 15.00 | Rs 3 |
| Â | Above Rs 2 lakh | Rs 25.00 | Rs 5 |
(As mentioned on sbi.co.in)
Interest rates, meanwhile, on SBI deposit schemes such as FD vary, depending on factors such as maturity period and amount of deposit.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
