India’s largest public-sector lender State Bank Of India offers a total of five free ATM transactions to its customers maintaining a monthly balance of up to ₹1 lakh in their accounts in the major cities like “Delhi, Kolkata, Mumbai, Chennai, Bengaluru and Hyderabad.” However, only three free ATM transactions are allowed in case the customers are using other banks’ ATMs.
SBI ATM Charges
SBI charges vary from ₹5-20 when you are withdrawing from an ATM after your free transaction limit is depleted. Charges completely vary as per the type of transaction and the ATM service the customer is using. When executing an ATM transaction beyond the free limit from an SBI ATM, the bank charges ₹10. Whereas if you are using an ATM of any other bank for the same type of transaction beyond the free limit then the bank will charge ₹20 from you. Meanwhile, if your transaction does not involve withdrawing hard cash like only checking account balance then the SBI will charge ₹5 at its ATMs and ₹8 at other banks’ ATMs.
SBI ATM Charges When You’re Maintaining ₹1 lakh Balance
Customers who are maintaining an account balance of up to ₹1 lakh can have the privilege of unlimited ATM transactions at any ATM service. If carrying out international transactions then the bank will charge ₹100 over 3.5 per cent of the transacted amount. And also the international transactions carried out through the point of sale are levied 3.5 per cent of the transaction amount.
Note: If your transaction is not carried out successfully due to insufficient balance then SBI will deduct ₹20.
Also read:RBI: Credit, Debit Card Tokenisation System From July 1, Details Inside
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It has been only a few days since the SBI has hiked its interest rates both on the loans and the deposits made, most recently the FD rates were increased by 20 bps. After the hike, from June 14 the new FD rates are applicable for the deposits below ₹2 Cr.