New Delhi | Jagran Business Desk: The State Bank of India (SBI) on Thursday revised its withdrawal rules, which will come in effect from July 1, after the SBI’s 3-month relaxation given to the customers expired on June 30. The public lender has not extended the exemption given to its customers in wake of the coronavirus pandemic.
Due to the coronavirus pandemic, the SBI in April had waived service charges for all ATM transactions made on SBI ATMs as well as other bank ATMs on account of exceeding the free number of transactions.
“In view of the announcement made by Finance Minister on 24th March, State Bank of India has decided to waive ATM charges for all ATM transactions made on SBI ATMs and other bank ATMs on account of exceeding the free number of transactions up to 30th June,” the SBI said earlier in April.
Now according to the revised rules, the SBI will give its savings account holders eight free transactions including five transactions at SBI ATMs and three transactions at other bank ATMs in six metro centres. The SBI will also charge a fee ranging from Rs 10 plus GST to Rs 20 plus GST for any additional financial transactions beyond the set limit.
Here are the changes made by the SBI in its revised guidelines for withdrawal:
– The savings account holders having up to Rs 25,000 Average Monthly Balance (AMB) will get eight free transactions, including five transactions at SBI ATMs and three transactions at other bank ATMs in six metro centres ( Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad). In non-metros, such account holders will get 10 free transactions, including five at SBI ATMs and five at others.
– SBI account holders above Rs 25,000 and up to Rs 50,000 AMB will get 8 free transactions at other bank ATMs ( 3 in metros, 5 non-metros).
– The public lender will also allow its customers maintaining an average balance of more than 25,000 in their savings accounts and unlimited transactions at State Bank Group (SBG) ATMs.
– The account holders with an average balance of above Rs 50,000 and up to Rs 1 Lakh will get 8 free transactions at other bank ATMs ( 3 in metros, 5 non-metros).
– Those savings account holders having an average balance of more than Rs 1 Lakh will get unlimited transactions at SBG ATMs as well as other bank ATMs.
– The bank will also charge a fee ranging from Rs 10 plus GST to Rs 20 plus GST for any additional financial transactions beyond the set limit. While Rs 5 plus GST to Rs 8 plus GST for any additional non- financial transactions beyond the set limit.
– The bank will charge a fee of Rs 20 plus GST for transaction decline due to insufficient balance.
– SBI will allow one-way inter-changeability for branch transaction on ATM transactions.
– For all salary accounts at all locations, SBI will offer free unlimited transactions at SBG ATMs and other bank ATMs.
