SBI changes cash deposit and several rules from October

SBI changes cash deposit and several rules from October

State Bank of India continues to upset its customers with their unique rules of levying charges at every possible service. Apparently, SBI holds the majority of customers in the country with millions of customers. Now, they released a new set of rule which will come into play from the first of this October.
 
SBI has done away with the limit on the amount that can be deposited in a non-home branch. The limit stays in case of accounts for SME segment, the bank said. SBI changes cash deposit rules for savings bank accounts. SBI has done away with the limit on the amount that can be deposited in a non-home branch. The limit stays in case of accounts for SME segment, the bank said. ... SBI levies ₹ 50 (plus GST) per transaction on cash deposits at non-home branches, says its website.
 
In good news for State Bank of India or SBI savings account holders, India’s biggest bank has removed the limit on the amount that can be deposited in a non-home branch. “Good news SBI customers! Now, the upper cap for depositing cash at a non-home branch has been updated," SBI tweeted.
 
In another development, SBI has been urging its customers to get hold of the chip-based cards instead of mag-stripe cards. EMV chip card technology helps protect against card fraud (skimming) and its application is free of charge.
 
From October 1st, in metropolitan cities, free ATM transactions in SBI ATM centers are free the limit for free transactions in other banks’ ATM’s increases to 10.



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