New Delhi
State Bank of India (SBI), the country’s largest bank, has announced a major change in the rules of ATM transactions. If you also have an account in SBI, then this news is very important for you. Now it is very important to know about free transaction limit, service charge and other changes. Let us know which rules SBI has changed and what will be affected by your ATM transaction.
Change in the limit of free transaction
SBI has now changed the number of free transactions at ATMs. According to the new rules, all customers will now get 5 free transactions at SBI ATMs and 10 free transactions at ATMs of other banks. Apart from this, if you have average balance between Rs 25,000 and Rs 50,000 in your account, then you will get 5 free transactions at other banks’ ATMs. At the same time, the same rules will be applicable for account holders with balance between Rs 50,000 and Rs 1,00,000. But if you have an average monthly balance in your account more than Rs 1,00,000, then you will get unlimited free transactions at SBI and other bank ATMs. That is, there will be no transaction limit for you.
Change in ATM service charge
SBI has now also increased the ATM service charge. If you use SBI ATM after your free transaction limit, the bank will recover Rs 15 + GST. At the same time, this fee at the ATMs of other banks will be Rs 21 + GST.
In addition, for services like Balance Inquiry and Mini Statement, no fee will be charged at SBI ATM after the Free Transaction Limit. But on using ATMs of other banks, a fee of Rs 10 per transaction will be charged per transaction. If ATM transaction fails due to lack of adequate balance in your account, then a fine of Rs 20 will be imposed.
From 1 May 2025, SBI customers will have to pay a fee of Rs 23 on each ATM transaction after crossing their free monthly boundary. It is clear from these changes that now the customer of SBI will have to plan his ATM transaction with more vigilance. While these changes made by the bank will provide relief for some customers, some may face additional expenses.