1. News

SBI ATM Rules: Check Limit and Charge on Free Cash Withdrawal Allowed in a Month Here

Depending on the type of transaction and the ATM, SBI charges Rs 5 to Rs 20 for transactions that exceed the free limit. Beyond the free withdrawal limit, SBI charges Rs. 10 for using the bank's ATM, while it costs Rs. 20 for doing so using an outside ATM.

Binita Kumari
Customers are charged Rs. 5 at SBI ATMs and Rs. 8 at other bank ATMs for non-financial transactions like checking account balances.
Customers are charged Rs. 5 at SBI ATMs and Rs. 8 at other bank ATMs for non-financial transactions like checking account balances.

For customers who maintain a monthly balance of up to Rs 1 lakh at its ATMs in Delhi, Kolkata, Mumbai, Chennai, Bengaluru, and Hyderabad, the largest lender in the nation, State Bank of India (SBI), gives five free transactions. At ATMs of other banks, a maximum of three free transactions are permitted.

Depending on the type of transaction and the ATM, SBI charges Rs 5 to Rs 20 for transactions that exceed the free limit. Beyond the free withdrawal limit, SBI charges Rs. 10 for using the bank's ATM, while it costs Rs. 20 for doing so using an outside ATM. Customers are charged Rs. 5 at SBI ATMs and Rs. 8 at other bank ATMs for non-financial transactions like checking account balances.

Unlimited free transactions at SBI and other bank ATMs are available to those who maintain a monthly balance of over Rs 1 lakh. The bank charges Rs 100 in addition to 3.5% of the transaction amount for overseas ATM transactions. 3 percent of the transaction value is charged for all international transactions made at the point of sale.

SBI charges Rs 20 if a transaction is refused because of an inadequate balance in the account. The interest rates on both loans and deposits were recently increased by SBI. 

It increased its fixed deposit interest rates by up to 20 basis points. From June 14, the rates were in effect. Deposits under Rs. 2 are subject to the new SBI FD interest rates.

The interest rates on both loans and deposits were recently increased by SBI. It increased its fixed deposit interest rates by up to 20 basis points. From June 14, the rates were in effect. Deposits under Rs 2 crore are eligible for the new SBI FD interest rates.

Depositors who have or will open an FD account in the 211-day to less than one-year duration will benefit from the highest interest rate. According to the bank's website, there has been a 20 bps rise on these tenures, making the interest rates on these deposits 4.60% instead of the former rate of 4.40%.

Rates for tenures of one year to less than two years have increased from 5.10 percent to 5.30 percent, a 20-basis point rise. According to the bank, SBI FD rates for deposits expiring in two to three years or less have increased by 15 basis points, moving from 5.20 to 5.35 percent.

According to the SBI, the higher interest rates will now be in effect for both new deposits and renewals of accounts that are nearing expiry. Interest rates on domestic term deposits will be matched with those on NRO term deposits.

The interest rate that would be paid to SBI employees and pensioners will be 1% higher than the rate that is now in effect. The rate that applies to all senior citizens and SBI pensioners 60 years of age and older will be 0.50 percent more than the rate that is paid for all tenors to senior citizens who are residents of India.

Share your comments

Subscribe to our Newsletter. You choose the topics of your interest and we'll send you handpicked news and latest updates based on your choice.

Subscribe Newsletters