SBI New ATM Transaction Rules: According to the new policy of SBI, all savings account holders will get 5 free transactions per month at SBI ATMs and 10 free transactions per month at ATMs of other banks. However, the free limit on ATMs of other banks has been cut for some balance categories.
SBI New ATM Transaction Rules: The country’s largest public sector bank, State Bank of India (SBI), has changed the ATM transaction charges and free transaction limits for its customers. These new rules will come into effect from February 1, 2025. SBI aims to simplify the fee structure and promote digital banking through this amendment. Under this, now both financial and non-financial transactions will be affected on ATMs of SBI and other banks.
How many free transactions will be available now?
According to the new policy of SBI, all savings account holders will get 5 free transactions per month at SBI ATMs and 10 free transactions per month at ATMs of other banks. However, the free limit on ATMs of other banks has been cut for some balance categories.
- Customers with an average monthly balance of ₹25,000 to ₹50,000 will now get only 5 free transactions at other bank ATMs.
- The same limit will apply to customers with a balance of ₹50,000 to ₹1,00,000.
- Those with a balance of more than ₹1 lakh will continue to get unlimited free transactions.
Charges will be levied for transactions beyond the limit
If you transact beyond your free limit, you will be charged ₹15 + GST ​​at SBI ATMs and ₹21 + GST ​​per transaction at other bank ATMs, whether metro or non-metro.
Charges on non-financial transactions
- Transactions like balance enquiry, mini statement will remain free of charge at SBI ATMs even after the free limit.
- But if you take these services from any other bank’s ATM, then you will have to pay ₹ 10 + GST ​​per transaction.
Cashless financial transactions (such as trust donations etc.) are free at SBI ATMs, but these are not available at ATMs of other banks.
Charge for decline transaction due to lack of funds
If there is not enough money in your account and the transaction fails, then a penalty of ₹ 20 + GST ​​will be charged. There has been no change in this and with this the Reserve Bank of India (RBI) has decided to increase the ATM interchange fee from May 1, 2025, due to which SBI customers will have to pay ₹ 23 per transaction on additional transactions, which was earlier ₹ 21.
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