STATE BANK OF INDIA
New York

Withdrawal: Limits on Transfers

  • A maximum of 6 debit transfers are permitted during a statement period. There is no restriction on the number of cash withdrawals at an ATM with the Debit Card, or at the teller counter by use of the withdrawal form that is available at the branch. These withdrawal forms cannot be used to pay cash to a third person.
  • Should more than 6 debit transfers be effected during a statement cycle, an excess check writing fee will be levied per transfer.
  • We reserve the right to close your account or reclassify it as a Checking Account if you continuously violate the above prescribed limits on the number of transactions.
  • We also reserve the right to refuse any transaction(s) which exceed the permissible limit.
  • While the law allows us to reserve the right for 7 days’ advance notice before permitting a withdrawal, we do not exercise this right currently.
  • Minimum balances, as follows, are required to be maintained to avoid monthly service charges:
    • An individual resident in the USA : $ 2,500
    • An individual resident outside the USA : $ 25,000
    • A business/association based in the USA : $ 50,000.00
    • A business/association based outside USA : $100,000
Salient Features

Please read the complete disclosure of account terms and fee schedule in the Customer Manual before applying for an account

Existing Customers Use form DEP-MC (PDF)
New Consumers Use form DEP-MC (PDF) along with form DEP-1 (PDF)