SBI changes cash deposit rules for SB accounts

SBI changes cash deposit rules for SB accounts


SBI changes cash deposit rules for SB accounts
State Bank of India savings account holders, India’s biggest bank has removed the limit on the amount that can be deposited in a non-home branch. This was announced by SBI on Twitter. “Good news SBI customers! Now, the upper cap for depositing cash at a non-home branch has been updated,” the bank said. A home branch is the branch where a customer has a bank account. All other branches of the bank are non-home branches for the customer.
According to SBI’s tweet, in personal savings bank account, there will be no restrictions on the amount that can be deposited at a non-home branch. Earlier, this limit was Rs 25,000, according to SBI’s website. SBI levies Rs 50 (plus GST) per transaction on cash deposits at non-home branches, says its website.
For SME segment accounts, the cap on cash deposits at non-home branch remains at Rs 2 lakh per day, SBI said in the tweet……

Comments

  1. CHAND BABU BAIRATHINovember 24, 2018 at 4:22 AM

    WHY TRANSACTION CHARGES ARE EVEN charged from customer. A bank should be customer friendly and much encourage their clients to do maximum transaction.
    Cash deposit by bank will ease bank cash holding and be helpful in CRR and SLR.
    HENCE Banks should be liberal with customers in their interest.

    ReplyDelete
  2. grumpycustomerNovember 24, 2018 at 6:09 AM

    A Bank earns considerable spread on its casa deposits, with cost of funds at around 3 per cent and lending at around 12 per cent.Since most such cheap funds come saving deposits, they should completely do away with all charges on minimum deposit, debit card charges as well as any other transaction charges.This double loot must end or someone will file a PIL.

    ReplyDelete
  3. RahulsonisirNovember 24, 2018 at 6:18 AM

    Appreciable
    Bank like SBI at least must understand the need of Indian customer.
    keep it up.

    ReplyDelete
  4. Vallabh Bhagvanjibhai PansuriyaNovember 24, 2018 at 11:28 PM

    WHY TRANSACTION CHARGES ARE EVEN charged from customer. A bank should be customer friendly and much encourage their clients to do maximum transaction.
    Cash deposit by bank will ease bank cash holding and be helpful in CRR and SLR.
    HENCE Banks should be liberal with customers in their interest.

    ReplyDelete
  5. Vallabh Bhagvanjibhai PansuriyaNovember 24, 2018 at 11:30 PM

    A Bank earns considerable spread on its casa deposits, with cost of funds at around 3 per cent and lending at around 12 per cent.Since most such cheap funds come saving deposits, they should completely do away with all charges on minimum deposit, debit card charges as well as any other transaction charges.This double loot must end or someone will file a PIL.

    ReplyDelete

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