Do you have a bank account with the State Bank of India (SBI)? Are you one of the SBI customers who recently got a notification that Rs 206.5 had been deducted from your account without your authorisation? There is no need to be concerned about this since the bank deducts the amount each year. Wondering why? Read further to know more.
Every Indian bank does the same to cover the annual maintenance or service charges for the ATM and debit card the account holder possesses. Remember, the State Bank of India deducts three different amounts Rs 147.5, Rs 206.5, or Rs 295 depending on the card you possess. State Bank customers having Yuva, Gold, Combo, My Card Debit, or ATM Card have to pay the amount. Thus, all the customers having the aforementioned cards and accounts will observe such deductions.
If you use any of the debit/ATM cards, including the Yuva debit card, Gold debit card, Combo debit card, or My Card debit/ATM card, the SBI will charge you Rs 175 as a yearly maintenance fee. However, because there is an additional GST of 18% on this purchase, an additional amount of Rs 31.5 (18% of Rs 175) is added to the total. Thus, Rs 175 plus Rs 31.5 equals Rs 206.5.
With a history spanning more than 200 years, the State Bank of India is the biggest public sector bank in the nation. With 46.77 crore customers nationwide, State Bank of India is a global public sector banking and financial services company in India.
Through 22,266 branches, 68,016 Business Correspondents (BC) locations, and more than 65,000 ATMs, the SBI provides client service. The bank controls a staggering 27.58% of the market for debit card purchases.
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