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In welcome news of its 420 million customers, the State Bank of India has announced that it has increased the cash withdrawal limit for its customers from non-home branches. This has been done as a supportive measure for customers in view of the Covid-19 situation across the country.
According to a notification released by the public sector bank on Twitter, customers can now withdraw up to Rs. 25,000 from a non-home branch of the bank using a withdrawal form and a savings bank passbook. For withdrawal of cash by cheque, a limit of Rs. 1,00,000 has been declared.
To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form.
#SBIAapkeSaath #StayStrongIndia #CashWithdrawal #Covid19 #BankSafe #StaySafe pic.twitter.com/t4AXY4Rzqh— State Bank of India (@TheOfficialSBI) May 29, 2021
India’s largest bank has also increased the limit of cash withdrawal by a third party to Rs 50,000. However, withdrawal of cash in this category is only allowed using a cheque. KYC(Know Your Customer) of the third party also needs to be submitted for the withdrawal.
It is important to note that the revised rates do not apply to the home branch of the State Bank for a particular customer. The revised rates have been implemented with immediate effect and will remain valid up to September 30 2021.
“To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form,” the State Bank of India said in a statement.