SBI customers will no longer have to pay ATM charges! Unlimited Free Transactions

SBI customers will no longer have to pay ATM charges! Unlimited Free Transactions

There is a good news for SBI customers. So far, you could get free transactions from ATM only 8 or 10 times, but if you maintain a minimum balance in your account every month, you can make unlimited free transactions from ATM. Reserve Bank of India (RBI) has directed the top banks in the country to provide a fixed number of free ATM transactions per month to their customers.

Account Must Have Maintained Average Minimum Balance If
SBI customers want unlimited Free ATM transactions, then they have to keep a certain amount as the average minimum monthly balance in their Savings Account. Such customers of State Bank of India can make free transactions of State Bank of India Group (SBG) ATM and other banks with unlimited Free Transactions. Let us tell you that from 31 October 2018, SBI has reduced the daily cash withdrawal limit of its classic and Maestro debit card holders from Rs 40,000 to Rs 20,000.

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They get free Unlimited Free Transactions from ATM
, according to the SBI website, account holders who retain monthly average balance of Rs 25,000, get 10 free transactions per month from any ATM of State Bank of India Group. However, there are some conditions in it too. Customers of SBI, who maintain monthly average balance of Rs 1 lakh or more, get unlimited free transactions from other banks’ ATMs also. In addition to the ATM of its group bank, Salary Account Holders facilitates unlimited free transactions from ATMs of other banks.

This is the limit of Monthly ATM transactions from
SBI. If you are the SBI’s regular savings bank account holder, then you get 8 free ATM transactions per month in metro cities. There are 5 transactions SBI ATM and 3 transactions can be made from ATMs of other banks. At the same time, for the account holders of non-metro, this limit is 10 free transactions (5 SBI and 5 ATM from the other bank) per month. In addition to free transactions, if you use ATM, you have to pay a charge of Rs. 5 (GST extra) to 20 rupees (GST extra).

 

Source:- zeebiz

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