SBI cash withdrawal with cheque and form rules for self and third party changed! Here’s all you need to know

SBI will increase money withdrawal restrict amid pandemic.

SBI money withdrawal guidelines 2021: In a bid to help its prospects in the course of the Covid-19 pandemic, the State Bank of India has elevated the non-home money withdrawal limits by means of cheque and withdrawal kind. “To help our prospects on this pandemic, SBI has elevated the non-home money withdrawal limits by means of cheque and withdrawal kind,” SBI knowledgeable prospects in a tweet on Saturday (Might 29, 2021).

The brand new limits can be legitimate until thirtieth September, SBI mentioned. Additionally, no money funds to 3rd events by means of withdrawal varieties might be allowed to SBI prospects, the financial institution added.

New SBI money withdrawal limits with cheque and withdrawal kind at non-home department

• Money withdrawal restrict for self (utilizing withdrawal kind accompanied by financial savings checking account passbook): Rs 25,000
• Money withdrawal restrict for self (utilizing cheque): Rs 1,00,000
• Money withdrawal restrict by third social gathering: Rs 50,000 (solely through the use of cheque.)

For money withdrawal by a 3rd social gathering utilizing cheque, KYC of the third social gathering might be required,, the financial institution mentioned.

As per the brand new rule, if you wish to withdraw cash at a non-home department of SBI through the use of with withdrawal kind, you’ll have to carry the Saving Financial institution passbook alongside. This manner you possibly can withdraw as much as Rs 25,000.

In case you are sending somebody with a cheque to withdraw cash out of your account, the financial institution will demand KYC of the particular person carrying the cheque earlier than handing over the money.

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