India’s largest public sector Bank, SBI, revised the ATM withdrawal charges from October 1.
The country’s largest lender has classified branches into three categories - metro, semi-urban and rural branches. SBI permits account holders a certain number of free ATM transactions per month, and will charge them Rs 50 plus GST for crossing this limit from October 1.
Some important points to be remembered is about the SBI ATM withdrawal charges given below:
1) Cash deposits in SBI savings account in a bank branch will be free for up to 3 transactions in a month and 36 in a year.
2) After that, SBI's account holder will be charged ₹50 plus GST for every transaction.
3) Cash withdrawal in SBI savings account in a bank branch will be free for up to 2 transactions in a month and 24 transactions in a year.
4) SBI customers who have maintained a monthly average balance of up to ₹25,000 are allowed up to 5 transactions per month free of cost at SBI ATMs and 8 at other banks ATM, according to the bank’s website.
5) SBI customers maintaining a monthly average balance above ₹25,000 and up to ₹50,000 monthly average balance can do unlimited free transactions at SBI ATMs and 8 at other banks ATM, according to SBI website.
6) SBI customers maintaining a monthly average balance of above ₹50,000 and up to ₹1,00,000 can do unlimited transactions at SBI ATM and 8 at others.
7) Unlimited ATM transactions are allowed to customers maintaining a minimum average monthly balance of ₹1 lakh or more. Such customers can also do unlimited transactions at other bank ATMs.