Cheque Bounce Charges for SBI - State Bank of India

73 votes

When a cheque issued by you bounces, it has the potential of causing immense damage in case the receiver wishes to sue you in the Court of law. Apart from this, even the banks levy charges upon the customers if the cheque is bounced or dishonoured.

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Charges Levied by Banks in India

As stated earlier, when a cheque bounces, the banks charge a fee. Both the defaulter and the payee could be charged by their respective banks. This fee is generally an NSF fee i.e. when there are insufficient funds in the account and the bank decides to bounce the cheque. Not all banks charge the same amount, the fee varies from one bank to another. The amount of this fee depends upon the reasons and nature of cheque bounce and the kind of account. This charge may also attract GST.
 

The cheque bounce charges for SBI are as follows:

A. Charges for Cheque or Bill deposited with the Bank returned unpaid by others (Local/Outstation)

1. Cheque/bill up to Rs. 1 Lakh - Rs. 150 + GST

2. Cheque/bill above Rs. 1 Lakh - Rs 250/- + GST

B. Charges for Cheques Drawn on SBI (for insufficient funds only)

1. For all customers - Rs. 500 + GST, irrespective of the amount

2. Cheque returned charges for Cheques drawn on SBI (for technical reasons) for all customers (Not to be charged where the customer is not at fault as per RBI guidelines) - Rs. 150 + GST
    

   Consult: Top Cheque Bounce Lawyers in India

LawRato LawRato

605 votes

If a cheque bounces due to insufficient funds or any other technical reason, such as signature mismatch, both the defaulter and the payee are charged by their respective banks.

The penalty charges for cheque outward return are close to Rs. 300 for most banks, while charges for cheque inward return are about Rs. 100.

The penalty charges vary from one bank to another, and are different for different account types. Premium accounts usually have higher penalty charges.

Advocate Tushar Kumar LawRato

362 votes

The Cheque Bounce charges in SBI Bank are 350 rupees for one check. After that, it increases to 750 rupees and 50 rupees every month.

Advocate Chikirsha Mohanty LawRato