SBI cash withdrawal rules 2021: In a bid to support its customers during the Covid-19 pandemic, the State Bank of Idia has increased the non-home cash withdrawal limits
SBI cash withdrawal rules 2021: In a bid to support its customers during the Covid-19 pandemic, the State Bank of India has increased the non-home cash withdrawal limits through cheque and withdrawal form. “To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form,” SBI informed customers in a tweet on Saturday (May 29, 2021).
The new limits would be valid till 30th September, SBI said. Also, no cash payments to third parties through withdrawal forms will be allowed to SBI customers, the bank added.
New SBI cash withdrawal limits with cheque and withdrawal form at non-home branch
- Cash withdrawal limit for self (using withdrawal form accompanied by savings bank account passbook): Rs 25,000
- Cash withdrawal limit for self (using cheque): Rs 1,00,000
- Cash withdrawal limit by third party: Rs 50,000 (only by using cheque.)
For cash withdrawal by a third party using cheque, KYC of the third party will be required,, the bank said.
As per the new rule, if you want to withdraw money at a non-home branch of SBI by using with withdrawal form, you will have to carry the Saving Bank passbook along. This way you can withdraw up to Rs 25,000.
If you are sending someone with a cheque to withdraw money from your account, the bank will demand KYC of the person carrying the cheque before handing over the cash.
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State Bank of India is the largest commercial bank in India in terms of assets, deposits, branches, customers, and employees. SBI is also the largest mortgage lender in the country. SBI has a deposit base of over Rs. 35 lakh crore and advances of more than Rs. 26 lakh crore.