There is big news for SBI customers. The bank has made a big change in ATM transaction charges. If you are an SBI customer then you must know.
The country’s largest bank, State Bank of India (SBI), has changed the rules of its ATM transactions. Let us tell you that SBI has announced changes in its ATM transaction charges and free usage limit. Let us know what changes the bank has made and what will be its effect on you?
Change in the limit of free transactions
State Bank of India (SBI) has changed the number of free ATM transactions. Under the change, all customers, whether they are living in metro or non-metro, will be entitled to 10 free transactions at SBI ATMs and 5 free transactions at other bank ATMs every month. For customers having an average monthly balance of between Rs 25,000 and Rs 50,000 in the account, there will be a facility to do 5 free transactions at ATMs of other banks. The same applies to those who maintain a balance between Rs 50,000 and Rs 1,00,000. Account holders maintaining an average monthly balance (AMB) of more than Rs 1,00,000 can enjoy unlimited free transactions at both SBI and other bank ATMs. That is, there will be no withdrawal limit for them.
Change in ATM service charge too
State Bank of India (SBI) has also changed the charges levied on ATMs. According to the bank, once you exhaust your free ATM transaction limit, SBI will charge you Rs 15 + GST ​​on every transaction at SBI ATM, no matter where you are. If you use ATMs of other banks, this charge will be Rs 21 + GST. For services like balance enquiry, mini statement etc., after the free limit, there is no charge on SBI ATMs. However, if you use ATMs of other banks, you will be charged Rs 10 + GST ​​per transaction.
If the ATM transaction fails due to insufficient funds in your savings account, a penalty of Rs 20 + GST ​​will have to be paid. From May 1, 2025, SBI customers will have to pay an ATM withdrawal fee of Rs 23 per transaction after exceeding their free monthly limit.
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