If you have an account with State Bank of India (SBI) and have just received a notice stating that Rs. 147.50 has been deducted from your account without your having initiated the transaction, you need not worry. SBI Customer bad news here: bank will deduct money from your account.
Take notice that the bank has been taking this sum each year as part of the maintenance/service cost for your debit/ATM card. SBI charges Rs.125 as an annual maintenance fee and an additional 18 per cent GST for a host of debit cards its customers use.
So, if we add the GST to Rs.125, it comes to Rs.147.50. The bank also charges Rs.300+GST to replace or alter a debit card. SBI Cards and Payment Services Limited have revised its transaction fees for various credit card-related transactions.
SBI Card mentioned on its website that “W.e.f. 15 Nov 2022, Processing Fee of Rs.99 + applicable taxes will be levied on all Rent Payment transactions. “W.e.f. 15 Nov 2022, Processing Fee on all Merchant EMI transactions will be revised to Rs.199 + applicable taxes from Rs.99 + applicable taxes,” reads SBI Card website.
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State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. As on September 30, 2022, the bank has a deposit base of over Rs. 41.90 lakh crore with CASA ratio of 44.63% and advances of more than Rs. 30 lakh crore. SBI commands a market share of 32.9%. SBI has the largest network of 22,309 branches and 65,796 ATMs / ADWMs in India with 66,757 BC outlets.
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