New Delhi: State Bank of India (SBI) allows free transactions to its customers at ATMs for 8-10 times in a month. Over and above these mandated number of free transactions, the bank charges a certain amount from its customers. However, maintaining a certain minimum balance in your account, you can do unlimited transactions at SBI ATMs and even at other bank ATMs. According to the direction by the Reserve Bank of India (RBI), top lenders in the country have to offer a certain number of free ATM transactions in a month. The bank currently allows unlimited free transactions at State Bank of India Group (SBG) ATMs to its customers who have maintained a monthly average balance above Rs 25,000 in their savings bank account in the previous month.
SBI ATM rules: Unlimited withdrawals, transaction limits, charges and other details in 10 points
Unlimited ATM transactions are allowed to customers maintaining a minimum average monthly balance of Rs 1 lakh or more. Such customers can also do unlimited transactions at other bank ATMs.
Here are 10 things to know about SBI ATM transaction limits and charges:
1. Regular savings bank account holders get eight free transactions, including five transactions at SBI ATMs and three transactions at other bank ATMs. In non-metros, such account holders get 10 free transactions, including five at SBI ATMs and five at others.
2. SBI currently allows its customers maintaining an average balance of more than Rs 25,000 in their savings accounts in the previous month an unlimited transactions at SBG ATMs.
3. SBI charges a fee ranging from Rs 5 plus GST to Rs 20 plus GST for any additional transactions beyond this limit.
4. SBI has set certain limits on the number of ATM transactions for accounts with lower monthly average balance at its group ATMs. SBI customers having maintained a monthly average balance of up to Rs 25,000 are allowed up to 10 transactions per month free in SBG ATMs subject to certain conditions, according to the bank’s website (sbi.co.in).
5. For any financial transactions beyond the monthly limit at SBG ATMs, it charges Rs 10 plus GST, according to the website.
6. For any financial transactions beyond the monthly limit at an ATM of another bank, SBI charges Rs 20 plus GST.
7. For any non-financial transactions over and above the allowed number of free transactions, SBI charges Rs 5 plus GST for every transaction made at its group ATMs.
8. For customers maintaining a monthly average balance above Rs 25,000 in the month gone by, SBI allows unlimited free transactions at its group ATMs, according to the bank’s website.
9. SBI customers maintaining a monthly average balance above Rs 1 lakh in the month gone by are allowed unlimited free transactions at ATMs of other banks for the month.
10. For all salary accounts at all locations, SBI offers free unlimited transactions at SBG ATMs and other bank ATMs.
On 31 October, SBI had decreased the daily cash withdrawal limit on ITS Classic and Maestro debit cards to Rs 20,000.