State Bank of India (SBI) has revised its ATM withdrawal rules with effect from 1 July. According to State Bank of India (SBI) official website i.e. sbi.co.in, in metro cities, SBI allows 8 free transactions to its regular savings account holders to transact in a month. Beyond this, customers are charged on each transaction.
- What are the new rules for account holders with upto ₹25,000 average monthly balance in their savings bank account?
These account holders will get eight free transactions, including five transactions at SBI ATMs and three at other bank ATMs. However, this is will be applicable in six metro centers (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad). In non-metros, such account holders will avail 10 free transactions, including five at SBI ATMs and five at others.
- What are the new rules for customers who maintain an average balance of more than ₹1,00,000 in their savings accounts?
SBI will allow such account holders unlimited transactions at SBG ATMs as well as other banks ATMs.
- What are the new rules for additional financial transactions beyond the set limit?
SBI will charge customer a fee ranging from ₹10 plus GST to ₹20 plus GST.
- What are the new rules for 'Failed ATM transaction fee'?In case of a failed transaction, the bank will charge a fee of Rs 20 plus GST due to insufficient balance.- SBI OTP based cash withdrawal SBI offers a safe way to withdraw cash over ₹10,000 across all SBI ATMs. This new facility, which was introduced on 1 January, 2020, allows ATM cardholders to withdraw cash with the help of one-time password (OTP) across all SBI ATMs from 8 PM to 8 AM.