State Bank of India (SBI), has revised its service charges for savings account holders with effect from 1st October. These service charges include revision of charges per month for non-maintenance of Average Monthly Balance (AMB), number of free transactions per month via ATM, among others. SBI clarified that social media posts saying that only 40 cash deposit/withdrawal transactions in a year are free are not correct. SBI also said reports of only four ATM transactions in a month are free are not correct either.
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