SBI Saving Account Holders ALERT! The State Bank of India is one of the world’s largest financial institutions in terms of customer base. The SBI is often called the banker of every Indian as it serves over 50 crore customers. With customers going digital, the bank has also been changing its banking style – be it its app YONO or internet banking facilities. The State Bank of India has been working to improve its customers’ banking experience and thus has been rolling out many facilities. Just like any other bank, the SBI also provides its customers with Debit Cards, popularly known as ATM cards. An ATM card enables users to withdraw cash from ATMs and make online payments for shopping. However, issuing an ATM card and ensuring its proper functionality is more complex than it seems.
Have you ever checked your SBI passbook minutely? When you will check the entries in your passbook or check the message received from the bank from time to time, you will find that the bank has debited Rs 236 from your bank account without you doing any such transaction. If yes, then we have its answer for you. Actually, the money got deducted from your account under the annual maintenance/service fee for the Debit/ATM card you have been using.
SBI provides a variety of debit cards to its customers, with most being Classic, Silver, Global, or Contactless cards. The bank charges an annual maintenance fee of Rs 200 onwards for these cards. Now, you may wonder if the AMC charge is Rs 200, why the SBI deducted Rs 236 instead? This is because the government levies 18% GST on the transactions carried out by the bank. So, instead of paying GST from its pocket, the bank deducts the GST from the customer’s savings bank account. So, Rs 200+18% of Rs 200 = Rs 200+Rs 36 = Rs 236. Hope, all your doubts are cleared now and you needn’t visit the bank for the same.
While the SBI customers having Classic/ Silver/Global Contactless Debit Card are charged Rs 236, those having premium debit cards are charged more as per the given table (Amounts excluding GST of 18%).
You should also note that the annual maintenance fee is Rs 250+GST for Yuva / Gold /Combo / My Card (Image) Debit Card, Rs 325+GST for Platinum Debit Card, Rs 350+GST for Pride/Premium Business Debit Cards and Rs 425+GST for Pride/Premium Business Debit Cards.
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