Moneycontrol PRO
Upcoming Event:Attend Algo Convention Live, 2 Days & 12+ Speakers at best offer Rs.999/-, exclusive for Moneycontrol Pro subscribers. Register now!

SBI revises cash withdrawal limits at non-home branches: All you need to know

Cash withdrawal for self (using a withdrawal form) along with a Savings Bank passbook has been increased to Rs 25,000 per day.

May 31, 2021 / 09:05 AM IST
SBI has hiked cash withdrawal for self (using cheque) to Rs 1 lakh per day.

SBI has hiked cash withdrawal for self (using cheque) to Rs 1 lakh per day.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Amid the second wave of coronavirus pandemic, India's largest bank State Bank of India (SBI) has increased the ceiling for cash withdrawal by customers at non-home branches.

A 'Home' branch means where customers' accounts are maintained. And the banking facilities available to customers at branches other than the home branch are called the non-home branch.

SBI on its official Twitter handle said "To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form".

The bank has hiked cash withdrawal for self (using cheque) to Rs 1 lakh per day. Cash withdrawal for self (using a withdrawal form) along with a Savings Bank passbook has been increased to Rs 25,000 per day.

Close

Moreover, the third-party cash withdrawals, have been fixed at Rs 50,000 per month (only using cheque).

"No cash payments to third parties by withdrawal forms will be allowed", SBI stated. It also added that the KYC (Know Your Customer) of the third party should be submitted to the bank.

The SBI added that revised ceilings are valid up till September 30, 2021.



Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Moneycontrol News
first published: May 31, 2021 09:05 am
Sections
ISO 27001 - BSI Assurance Mark