SBI ATM Charges Explained: Typically, a bank provides a limited number of free transactions, encompassing both financial and non-financial activities. So, what are the SBI ATM transaction limits? How many free transactions can one make in a month? And other details – Know Here
SBI ATM Charges Explained: State Bank of India (SBI), the country’s largest bank, offers unlimited free-of-cost ATM transactions to its customers at its own ATMs as well as at the ATMs of other banks under certain conditions. For instance, customers maintaining an average monthly balance (AMB) of more than Rs 25,000 in their savings bank accounts at SBI enjoy unlimited domestic transactions within the bank’s ATM network of the bank but are required to maintain an average monthly balance of more than Rs 1 lakh to enjoy the same benefit at the ATMs of other banks, according to the lender’s website, sbi.co.in.
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What are these charges all about?
In this article, let’s learn about all the domestic ATM transaction charges applicable to SBI savings bank account holders.
| Average Monthly Balance (AMB) in Savings Bank | Number of free transactions per month (both financial and non-financial) | ||
| Other Bank ATMs | SBI ATMs | ||
| In six metro centres | Other centres | ||
| Up to Rs 25,000 | 3 | 5 | 5 |
| Above Rs 25,000 up to Rs 50,000 | 3 | 5 | Unlimited |
| Above Rs 50,000 up to Rs 1,00,000 | 3 | 5 | |
| Above Rs 1,00,000 | Unlimited | Unlimited | |
| Charges for financial transactions beyond the set limit | Rs 20 + GST | Rs 10 + GST | |
| Charges for non-financial transactions beyond the set limit | Rs 8 + GST | Rs 5 + GST | |
| Transaction decline due to insufficient balance | Rs 20 + GST | Rs 20 + GST | |
| (Source: sbi.co.in) | |||
GST applicable at 18 per cent
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SBI ATM charges explained
SBI allows savings account holders maintaining an average monthly balance of up to Rs 1 lakh a maximum of three free-of-cost transactions of the financial or non-financial nature every month at the ATMs of other banks in six metros, and five such transactions at ATMs located in other parts of the country, according to the SBI portal.
The six metros are: Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad.
SBI savings account holders keeping an average monthly balance of up to Rs 25,000 are allowed up to five free transactions a month on the network of SBI’s ATMs. Those maintaining an average above Rs 25,000 can enjoy unlimited transitions at such ATMs.
To be able to enjoy unlimited transactions at the ATMs of other banks, SBI savings account customers are required to maintain a monthly average of at least Rs 1 lakh as balance in their accounts.
Once the account holder exceeds the permitted number of free transactions in a month, SBI levies a fee of Rs 20 per financial transaction at other ATMs and Rs 10 per transaction at its own ATMs, excluding GST, according to its website.
For non-financial transactions, it charges a fee of Rs 8 per transaction at other ATMs and Rs 5 per transaction at its own ATMs (excluding GST).
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SBI transaction decline charges
SBI savings account holders using up their monthly quota of free transactions also have to bear a fee of Rs 20 per declined transaction due to insufficient balance at any ATM, according to the SBI website. This essentially means that if a transaction is declined after exhausting the number of free transactions in a month, customers have to pay a fee of Rs 20 for every failed transaction due to insufficient funds, regardless of whether it is at the ATM of SBI or any other bank.
SBI SMS Alert Charges
Besides, SBI also levies a fee of Rs 12 per quarter (including GST) from debit card holders failing to maintain an average balance of Rs 25,000 in a quarter.
Why is it important to know about various debit card and ATM charges?
To effectively manage finances and avoid unnecessary charges, it is paramount for customers to understand the applicable ATM charges of their banks. Being aware of these transaction limits, free transactions, and associated charges empowers bank account holders to make informed decisions about their banking activities, ensuring a smooth banking experience.
