State Bank Of India

State Bank of India has unveiled a prepaid card for contract labourers and also suitable for employees of small and medium enterprises companies. The prepaid card namely -- State Bank Smart Payout Card -- can be recharged with a minimum amount of Rs 100 and a maximum of Rs 10,000. It can be reloaded up to a limit of Rs 10,000, with a monthly ceiling of Rs 25,000. The limit per transaction is Rs 10,000 and Rs 25,000 per month, said a press release issued by the bank.

The card will be available at all SBI branches and can be used for cash withdrawal at any ATM of SBI and its associate banks free of cost and at other banks' ATMs for a fee. The card issuance charge is Rs 102. The reloading charge is Rs 10 and nil if it is loaded or reloaded through corporate internet banking.