State Bank of India (SBI) has changed its ATM transaction rules. The bank has increased the ATM transaction charges and ATM usage limits. The bank has implemented this on an expedited basis.
New ATM Rule
As per the new rules, both metro and non-metro customers can make 5 free transactions from SBI ATMs and 10 free transactions from other bank ATMs per month. After exceeding the monthly limit of free ATM transactions, SBI will charge a fee of Rs 15 + GST per transaction at any ATM, regardless of location. This fee is Rs 21 + GST per transaction for transactions at ATMs of other banks, which will be implemented in other parts of the country including metro cities.
More Charges for Exceeding the Maximum Transaction Limit
Earlier, SBI used to charge Rs 21 plus GST for extra transactions. But after the change in rules, if you exceed the maximum transaction limit from another bank’s ATM, then you will have to pay more charges. According to the new rules of SBI, ATM free transactions will be available based on the average monthly balance in the savings account. Whether it is a metro or other cities, all account holders will get 10 free transactions from SBI ATMs. Similarly, SBI customers can make 5 free transactions from other ATMs. If this limit is crossed, then the customer will have to pay more money than before.
New Transaction Charges Based on Average Monthly Balance
Customers with an average monthly balance of Rs 25,000 to Rs 50,000 can make 5 free transactions from other bank ATMs. Customers with an average monthly balance of Rs 1 lakh and above can make unlimited free transactions from SBI and other bank ATMs. After the monthly free ATM usage, you will have to pay Rs. 15 plus GST per transaction.
Change in Cash Withdrawal Limit from ATMs
SBI has made a major change in the cash withdrawal limit from ATMs. The country’s public sector bank has made this change with an aim to simplify the ATM charge structure and promote digital banking. In which SBI and other banks will affect financial and non-financial transactions at ATMs. This rule came into effect on February 1, 2025.
No Charge for Balance Inquiry & Mini Statement
SBI does not charge anything for services like balance inquiry, mini statement. But if you are availing these services from any other ATM, then you will have to pay Rs 10 plus GST per transaction. In addition, if your transaction fails due to lack of funds, then SBI will charge a penalty of Rs 20. This new rule of State Bank of India is going to be implemented from May 1st. Every SBI user should be aware of this.
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