ATM Transaction Charges: State Bank of India is the largest public sector bank in the country. Millions of people are currently associated with this bank in one way or the other. But this time there is shocking news for SBI customers. SBI has taken such a decision that can put customers in trouble. State Bank of India (SBI) has revised its ATM transaction charges and free usage limits. These are different for different types of accounts. These revised rules have come into effect from February 1, 2025.
This new policy aims to simplify fee slabs, promote digital banking and standardize usage limits in metro and non-metro areas. But who will be affected by these new rules? Here’s how much you will have to pay after exceeding the free limits. These changes will affect financial and non-financial transactions made through SBI ATMs as well as ATMs of other banks.
SBI has revised the number of free ATM transactions available to savings account holders across various Average Monthly Balance (AMB) tiers. Accordingly, account holders are now eligible for 5 free transactions per month at SBI ATMs and 10 free transactions per month at ATMs of other banks, irrespective of their AMB or location (metro or non-metro).
Customers who maintain an average monthly balance between Rs. 25,000- Rs. 50,000 can now make up to 5 free transactions at ATMs of other banks. The same is also applicable if they maintain a balance between Rs. 50,000- Rs. 1 lakh. And if the average balance is above Rs. 1 lakh, they can get unlimited free transactions at ATMs of other banks including SBI.
ATM service charges
SBI charges customers for exceeding their free ATM transaction limit. The bank has now revised these charges as well. These charges vary based on the type of transaction (financial or non-financial) as well as the type of ATM used (SBI or other banks).
Charges on financial transactions..
After you use your monthly free ATM transaction quota.. You will have to pay Rs. 15 + GST for each transaction at SBI ATMs. If you use ATMs of other banks, then every additional transaction will be Rs. 21 + GST. Here, new rules have been brought irrespective of the region. Look and see.. Every additional transaction like this will be charged this hefty amount.
There are also restrictions on non-financial transactions like balance enquiry and mini statement. After the free limit on these services, there is no charge at SBI ATMs. However.. if you do these at ATMs of other banks.. you will have to pay Rs. 10 + GST for each additional transaction.
Finally.. if your ATM transaction fails due to insufficient funds in your savings account.. the fine will remain the same as before at Rs. 20 + GST.