SBI ATM rules: Account holders are allowed unlimited free transactions at group ATMs in some conditionsSBI or State Bank of India allows its savings account holders unlimited free-of-cost transactions at ATMs under certain conditions.
Individuals holdingsavings accounts at SBI with an MAB or monthly average balance above Rs 25,000 are allowed unlimited ATM transactions at the bank's group ATMs, according to the lender's corporate website - sbi.co.in.
These ATM transactions include those of financial as well as non-financial nature.
Customers with a monthly average balance - which is the average of daily balances in a month - up to Rs 25,000 in the previous month are allowed up 10 transactions free of cost in a month, according to the SBI website.
( Cash withdrawal limit, transaction applicable to SBI ATM cards explained|What latest changes in SBI interest rates mean for you)SBI limit for free ATM transactions in a monthSBI savings account holders with monthly average balances above Rs 25,000 (in the previous month) are allowed unlimited internet/mobile banking transactions free of cost every month, according to the bank's website.( SBI ATM charges - Key points to know about SBI ATM-cum-debit cards |SBI Tax Savings Scheme - tenure, interest rate and other important details)Also, savings bank account holders at State Bank of India with the average above Rs 1 lakh in the previous month are allowed unlimited number of free transactions in a month at SBI bank branches and ATMs of the bank as well as other banks, and through mobile/internet banking, according to the SBI website.( Zero balance savings account: Interest rate and facilities offered by top banks compared here)SBI ATM transaction charges above the prescribed limit( A comparison of SBI interest rates on term deposits)SBI has set certain charges for any transactions above the permitted limit to customers.
These charges range from Rs 5 to Rs 50 (excluding GST) for every financial transaction above the applicable threshold, and Rs 5-8 for every non-financial transaction, according to the SBI website.( SBI loan against shares - all you need to know)Any financial transactions in other banks' ATMs located in six metros - New Delhi, Mumbai, Kolkata, Chennai, Hyderabad and Bengaluru - above the permitted limit are charged at Rs 20 (excluding GST) per unit.
Non-financial transactions are charged at Rs 8 (excluding GST) per unit, according to the SBI website.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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Election results will be out on May 23.
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