Not a happy new year for people of India as Bank services will be costly from 1st January 2016. Both public and private banks have decided to increase the rates in different services provided by banks all over the India. State Bank of India (SBI) is the leading bank in the increment of rates as compared to other banks. With the extra cost on services customer have to pay additional service tax as well. Now new rates will be applicable from 1st January 2016.