SBI to levy cash transaction charges after 3 withdrawals

State Bank of India is planning to impose such charges from April 1, according to top sources. SBI will charge Rs 50 per transaction after three transactions from its home branch starting April 1.

The levy will be imposed on saving bank accounts. On current accounts, transactions of Rs 25,000 a day will be free, beyond which the bank will charge Rs 50 per transaction.

Sources said that ATM usage charges are also likely to be revised. Currently, five ATM withdrawals are free. After that a customer has to pay Rs 20 per ATM withdrawal.