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Rs 147.5 debited from your SBI account? Know why State Bank deducted money from your saving account | Personal Finance News




SBI Saving Account Holders ALERT! State Bank of India is the country’s largest public sector lender and a banker to almost every Indian. With the changing times, the bank has also changed its style of functioning and has introduced several new services. The SBI has crores of saving account holders and each account holder is issued at least one debit card, often known as an ATM card, which allows people not only to withdraw cash from ATMs but also do online payments for shopping anything. Now, issuing an ATM card and facilitating its usages are not as simple as it appears.

Anyways, coming back to the point. Did you notice in your passbook or bank statement or get a message to find that the SBI has debited Rs 147.5 from your bank account without you doing any such transaction? If yes, then we have its answer for you. Actually, the money got deducted from your account under annual maintenance/service fee for the Debit/ATM card you have been using.

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It may be noted that SBI offers a host of debit cards to its customers and majority of them are Classic/Silver/Global/Contactless debit cards. The bank charges Rs 125 as annual maintenance fee for these cards. Now, you may be thinking that if the charge is Rs 125, then why Rs 147.5 was deducted from your account. This is because a GST of 18% is applicable on this service fee. Thus, 18% of Rs 125 = Rs 22.5. Now, Rs 125+Rs 22.5 = Rs 147.5. Hope, it may have cleared your doubt.

It’s also to be noted that the annual maintenance fee is Rs 175+GST for Yuva / Gold /Combo / My Card (Image) Debit Card, Rs 250+GST for Platinum Debit Card, and Rs 350+GST for Pride/Premium Business Debit Cards.

Also, if you want to replace/change your debit card, the bank charges Rs 300+GST for this service which is apart from the service charge.