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SBI ATM: New Transaction Charges, Withdrawal Usage Limits

(SBI is one of the largest commercial banks in India and it has recently announced transaction charges for ATM and other service charges.

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SBI ATM withdrawal limit Per Day

  1. You Can withdraw minimum Rs 100 and maximum rs. 40000/- per day through sbi debit card at any ATM. You can also transfer money upto rs 40000 per day from one card to other card.
  2. Those who have a savings account with SBI will be eligible for 3 free cash withdrawals in metro centres and 5 free cash withdrawals in other centres from the ATM’s.
  3. If someone wants to withdraw money for the fifth time in a month then he will have to pay an extra charge of Rs 10/- + service tax for withdrawing cash.
  4. If you withdraw cash from other bank’s ATMs then you will have to pay Rs 20/- + service tax.
  5. Charges for Debit Card to Third Party Account and Cardless Transactions is Rs.22/- + Service Tax
  6. When the money withdrawn from its own ATMs exceeds Rs 100000/- then no charges will be applied. If you are withdrawing money using an SBI card from other bank’s ATMs, there’s will be no charge if the balance is more than Rs 1 lakh.

ATM withdrawal charges for SBI

Average Monthly Balance (Charges based on number of transactions)Same branch ATMsOther Bank ATMs (metro)Other Bank ATMs (non-metro)
< Rs.1000535
>Rs.1000 and up to Rs.25,000535
>Rs.25,000 up to Rs.50,000Unlimited35
>Rs.50,000 up to Rs.1,00,000Unlimited35
> Rs.1,00,000UnlimitedUnlimitedUnlimited

Revision of SBI Service Charges (Modifications and Additions that will be effective on and from June 1, 2017)

Description of the Service ChargesRevised Rates
Service Charges for the exchange of Imperfect or Soiled Notes
Value up to Rs.5,000 and up to 20 piecesNil charges
Charges for IMPS transfer of funds via INB, MB, OPI or USSD
More than Rs.1 lakh and up to Rs.2 lakhRs.15 + GST
More than Rs.2 lakh and up to Rs.5 lakhRs.25 + GST
Up to Rs.1 lakhRs.5 + GST
Above 20 pieces and/or value above Rs.5,000
Above 20 piecesRs.2 for each piece on the entire tender along with GST.
Rs.2 for each piece or Rs.5 for 1000 along with GST, whichever is more on the entire tender.
Example: Rs.500 (25 pieces) is equal to Rs.12,500 Charges Rs.2 for each piece: Rs.50 + GST Charges at the rate of Rs.5 for each Rs.1000: Rs.62.50 + GST Amount that is chargeable is equal to Rs.62.50 + GST
Applicable for the SBI Buddy Wallet customers
Service Charges for State Bank Buddy
Cash deposit in to the Wallet via BC (Business Correspondent)0.25% of the total transaction value (Minimum of Rs.2 and Maximum of Rs.8) + GST.
Cash withdrawal from the Wallet Balance vis BC (Business Correspondent) – up to Rs.2,000 in multiples of Rs.1002.50% of the transaction value (Minimum amount of Rs.6) + GST.
Cash withdrawal from the Wallet Balance vis ATMRs.25 for each transaction.
Service charges for the BSBD (Basic Savings Bank Deposit) accounts
Cheque Book issuanceCheque Book with 50 leaves – Rs.150 + GST. Cheque Book with 25 leaves – Rs.75 + GST. Cheque Book with 10 leaves – Rs.30 + GST.
ATM Card issuanceThe RuPay Classic card is the only card that comes free of cost.
Withdrawals4 withdrawals in 1 month free of charges. This includes ATM withdrawals too. After the 4 withdrawals are complete:

  • Home Bank ATMs – Rs.10 + GST for each transaction.
  • Other Bank ATMs – Rs.20 + GST for each transaction.

At the branch – Rs.50 + GST for each transaction.

Revised Charges for ATM Transactions for all Banks

Post demonetisation, the daily withdrawal amount has been increased from Rs.4,500 to Rs.10,000 since 16th January 2017. Refer to the table below for the existing number of free transactions and the fees involved for transactions beyond the free limit.

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Name of BankFree transactions allowed (each month)Fees for Transactions Beyond Free Limit
Own Bank ATMOther Bank ATMFinancialNon-Financial
Axis Bank53Rs. 20+ GSTRs. 9.55
ICICI Bank53Rs. 20+ GSTRs.8.50 + GST
IDBI BankUnlimited5Rs.20Rs.8
Citi BankUnlimitedUnlimited
Bank of BarodaUnlimitedDepends on the policies of those banksRs.20 + GSTRs.10 + GST
HDFC Bank53Rs.20 + GSTRs.8.50 + GST
State Bank of IndiaUnlimited (for salary accounts)Unlimited (for salary accounts)
KotakUnlimited5Rs.20 + GSTRs.8.50 + GST
Canara BankUnlimited5Rs.20 + GSTRs.10 + GST
Punjab National BankUnlimited5Rs.20Rs.20

Note:

  • The free transaction limit of 3 transactions is only applicable to Metro cities (Bangalore, Chennai, Delhi, Hyderabad, Kolkata, and Mumbai). For all other locations, the limit is 5.
  • The free transaction limit is not applicable to no-frills or small savings accounts.
  • Banks can choose to offer a higher number of free transactions if they wish to.

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