Bengaluru: State Bank of India (SBI) allows its account holder a fixed number of free cash withdrawals at bank branches. If the cash withdrawal exceeds the free limit, SBI levies certain charges for that. However, these charges are not applicable to small or no frill deposit accounts, the bank stated on its website.
An SBI account holder maintaining average monthly balance (AMB) up to ₹25,000 will be allowed two free cash withdrawals at bank branches. An SBI account holder with average monthly balance above ₹25,000 and up to ₹50,000 will get 10 free cash withdrawals. Above ₹50,000 and up to ₹1,00,000 in their account will be allowed 15 free cash withdrawals at bank branches. If average monthly balance in your account is above ₹1,00,000, the account-holder can do unlimited number of free cash withdrawals.
Average Monthly Balance (AMB) in Savings Bank and number of free cash withdrawals per month
• Upto ₹25,000 – 2
• Above ₹25,000- upto ₹50,000 – 10
• Above ₹50,000- upto Rs1,00,000- 15
• Above ₹1,00,000- Unlimited
• Charges for transactions beyond the free limit – ₹50 + GST
SBI customers can do unlimited transactions in a month through internet or mobile banking.
Average Monthly Balance (AMB) in SBI savings bank account and number of free transactions per month through internet or mobile banking:
• Up to ₹25,000 -unlimited
• Above ₹25,000- up to ₹50,000 -unlimited
• Above ₹50,000 – up to ₹1,00,000 – unlimited
• Above ₹1,00,000 – unlimited
SBI new ATM withdrawal limits, charges
1) Account holders with upto ₹25,000 Average Monthly Balance (AMB) in their savings bank account will get eight free transactions, including five transactions at SBI ATMs and three transactions at other bank ATMs in six metro centres. In non-metros, such account holders will get 10 free transactions, including five at SBI ATMs and five at others.
2) SBI account holders above ₹25,000 and upto 1 lakh AMB will get 8 free transactions at other bank ATMs (3 in metros, 5 non-metros).
3) SBI will allow its customers maintaining an average balance of more than ₹25,000 in their savings accounts an unlimited transaction at State Bank Group (SBG) ATMs.
4) SBI will charge a fee ranging from ₹10 plus GST to ₹20 plus GST for any additional financial transactions beyond the set limit.
SBI has reduced its savings deposit interest rate by 5 basis points (bps) to 2.7%. The cut has been effective for all deposits from 31 May. live mint Reported.