Recently, there where so many messages circulating in social media regarding the 3 times deposit limit in your Saving account with State bank of India. Many people are complains that, they are charges with Rs. 50+GST for each deposit after 3 deposit. Is it a fake news or true one, many people are asking these now.

As like in the text messages and voice messages says. SBI’s website also stating the same thing. They are charging Rs.50+GST from each consumer, for all the deposits after the 1st 3 free limits. Yes, if you are depositing money in your account more than 3 times a month, then you have to pay service charge for each deposit.

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For eg: if you deposited Rs. 1000 each, 5 times a month. Then 1st 3 times, same Rs. 1000 will be credited to your account. But, for the 4th and 5th transactions, Rs.50+GST will be deducted from your Rs.1000 deposit. So you will be getting around Rs.930/- for the 4th and 5th deposit.

sbi cash deposit limit

Actually SBI made these changes on July 2017, as mentioned in their service charge list. But, customers are not yet informed about these changes. Many people are raising complain about this with the customer care and also, its strange that, no other bank in India are charging its customers for depositing money to their account.

These changes are greatly making problem to normal people who deposit their daily income to the bank account. Since the amount deposited by these people are less and bank began to charge this much amount for each deposit, nothing will be left in their account. We can hope, SBI will double check this matter and will revise the changes, so that, normal people can use their account for saving their earnings.

Please refer, official website for Service Charges

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