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SBI ACCOUNT – STATE BANK CUSTOMERS' EXPENSES ARE INCREASING FROM NEXT WEEK, A BIG SHOCK IN THE NEW YEAR

   
                     
                  New guidelines for SBI Account customers of the country's largest public sector bank, State Bank of India or SBI.  Bad news for SBI customers at the start of the new year.  Basically the pressure on the pockets of SBI home loan customers is going to increase.  Besides, SBI Debit and Credit Card charges are going to increase.

Yesterday ie January 15, RBI Governor Shaktikanta Das said that it will not be possible to reduce the repo rate immediately.  That means customers have to multiply interest for loans.  Along with this, the new notification of SBI Account has been published.  It is known that SBI has decided to increase the MCLR (Marginal Cost of Funds Based Lending Rate).

SBI Account Charges:

Interest rates have been increasing since January 15 last year.  The increase in MCLR has increased the interest on loans taken for 1 year to 8.40%, 8.30% for 6 months and 8% for 3 months.  Again 8.50% for 2 years and 8.60% for 3 years.
Also, the cost of SBI Account EMI is going to increase as MCLR increases.  Interest rates on loans taken on your car, house, etc. will also increase slightly.  As a result, the level of SBI customers will increase quite a bit.

Incidentally, not only SBI, but all other banks are increasing the interest rates on their home loans one after the other.  Among them, HDFC Bank and Bank of India have increased interest rates on home loans as well as other loans.
According to reports, HDFC Bank has increased MCLR by 50 basis points, while Bank of India (BoI) RBLR has increased by 35 basis points.
Service tax is increasing:

Various service charges of debit cards, credit cards of SBI Account customers are increasing, and taxes are increasing along with it.  Meanwhile, the new rules regarding the minimum balance have come into effect from January 1.  In the previous rule, if there were two accounts in the same bank, no charge would be deducted if there was a minimum balance in either of them.  But this time in case of every SBI Account minimum balance has to be kept.With FDs, they will get some relief, as the bank is offering great interest rate returns on FDs.  However, due to the gradual reduction in interest rates and the increase in various charges, the pressure on customers is increasing.  You can comment your opinion on this matter below.



Writer.....RYAAN AHMED 
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