If you have an account with State Bank of India (SBI), there are some important updates regarding ATM transactions that you should be aware of.
Starting February 1, 2025, SBI has implemented new rules for ATM transactions aimed at promoting digital banking and making the fee structure more uniform across cities.
These changes will apply to all savings account holders using SBI or other banks’ ATMs, including both financial and non-financial transactions.
Free Transactions Allowed
From February 1, 2025, SBI will allow 5 free transactions at their own ATMs every month. For ATMs of other banks, the free limit is set at 10 transactions per month.
These limits will apply to all SBI account holders, regardless of their average monthly balance (AMB) or whether they reside in metro or non-metro cities.
Rules Based on Monthly Balance
For customers who maintain a higher AMB, additional benefits are available:
If your AMB is between Rs 25,000 and Rs 50,000, you can enjoy 5 free transactions at other bank ATMs each month.
If your AMB is between Rs 50,000 and Rs 1 lakh, you will also get 5 free transactions at other bank ATMs.
For those maintaining an AMB of more than Rs 1 lakh, unlimited free transactions will be available at both SBI and other bank ATMs.
These changes aim to simplify the transaction rules and make them more consistent for all customers.
Charges After the Free Limit
Once you exceed the free transaction limits, the following charges will apply:
At SBI ATMs: Rs 15 + GST per transaction.
At other bank ATMs: Rs 21 + GST per transaction.
These charges will apply uniformly in both metro and non-metro cities.
Charges for Non-Financial Transactions
For non-financial transactions, there are some differences:
At SBI ATMs, services like balance checking and mini statements are free of charge, with no limit on these transactions.
At other bank ATMs, non-financial transactions will cost Rs 10 + GST.
Religious donations (trust donations) can be made for free at SBI ATMs, but this option is not available at other bank ATMs.
Penalties for Failed Transactions
If a transaction fails due to insufficient balance, SBI will charge a penalty of Rs 20 + GST. This penalty remains unchanged.
Additionally, from May 1, 2025, SBI will increase the ATM withdrawal fee for transactions beyond the free limit. The new fee will be Rs 23 per transaction, up from the previous charge of Rs 21.
These changes are part of SBI’s effort to standardize ATM usage and enhance digital banking services.
