Post demonetization, the every day withdrawal sum has been expanded from Rs.4,500 to Rs.10,000 since sixteenth January 2017. Allude to the table underneath for the current number of free exchanges and the charges required for exchanges past as far as possible.
| Name of Bank | Free transactions allowed (each month) | Fees for Transactions Beyond Free Limit | ||
| Own Bank ATM | Other Bank ATM | Financial | Non-Financial | |
| Axis Bank | 5 | 3 | Rs. 20+ GST | Rs. 9.55 |
| ICICI Bank | 5 | 3 | Rs. 20+ GST | Rs.8.50 + GST |
| IDBI Bank | Unlimited | 5 | Rs.20 | Rs.8 |
| Citi Bank | Unlimited | Unlimited | ||
| Bank of Baroda | Unlimited | Depends on the policies of those banks | Rs.20 + GST | Rs.10 + GST |
| HDFC Bank | 5 | 3 | Rs.20 + GST | Rs.8.50 + GST |
| State Bank of India | Unlimited (for salary accounts) | Unlimited (for salary accounts) | – | – |
| Kotak | Unlimited | 5 | Rs.20 + GST | Rs.8.50 + GST |
| Canara Bank | Unlimited | 5 | Rs.20 + GST | Rs.10 + GST |
| Punjab National Bank | Unlimited | 5 | Rs.20 | Rs.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.
Terms and Conditions:
- IDBI Bank account holders can make unlimited transactions at their bank ATMs.
- ICICI Bank will not levy ATM transaction charges on some of its Savings Account offerings such as Freedom, Privilege Senior Citizens and Silver Savings Accounts.
- State Bank of India account holders will have unlimited free transactions at the bank’s ATMs if a monthly average balance of Rs.25,000 is maintained. Refer the below table for more information on ATM withdrawal limit and charges.
ATM withdrawal charges for SBI
| Average Monthly Balance (Charges based on number of transactions) | Same branch ATMs | Other Bank ATMs (metro) | Other Bank ATMs (non-metro) |
| < Rs.1000 | 5 | 3 | 5 |
| >Rs.1000 and up to Rs.25,000 | 5 | 3 | 5 |
| >Rs.25,000 up to Rs.50,000 | Unlimited | 3 | 5 |
| >Rs.50,000 up to Rs.1,00,000 | Unlimited | 3 | 5 |
| > Rs.1,00,000 | Unlimited | Unlimited | Unlimited |
Revision of SBI Service Charges (Modifications and Additions that will be effective on and from June 1, 2017)
| Description of the Service Charges | Revised Rates |
| Service Charges for the exchange of Imperfect or Soiled Notes | |
| Value up to Rs.5,000 and up to 20 pieces | Nil charges |
| Charges for IMPS transfer of funds via INB, MB, OPI or USSD | |
| More than Rs.1 lakh and up to Rs.2 lakh | Rs.15 + GST |
| More than Rs.2 lakh and up to Rs.5 lakh | Rs.25 + GST |
| Up to Rs.1 lakh | Rs.5 + GST |
| Above 20 pieces and/or value above Rs.5,000 | |
| Above 20 pieces | Rs.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.100 | 2.50% of the transaction value (Minimum amount of Rs.6) + GST. |
| Cash withdrawal from the Wallet Balance vis ATM | Rs.25 for each transaction. |
| Service charges for the BSBD (Basic Savings Bank Deposit) accounts | |
| Cheque Book issuance | Cheque 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 issuance | The RuPay Classic card is the only card that comes free of cost. |
| Withdrawals | 4 withdrawals in 1 month free of charges. This includes ATM withdrawals too. After the 4 withdrawals are complete:
At the branch – Rs.50 + GST for each transaction. |
How to Avoid ATM Transaction Charges
When need fast money, the greater part of us hurry to the closest ATM as an issue of propensity. With ATMs in almost every area, comfort has an impact also. However with the new changes in ATM exchange charges, making various outings to pull back money or check your adjust will cost you as time goes on. Here are tips to abstain from paying a strong charge:
- Reduce the number of times you need to withdraw by swiping your card instead of paying cash. A number of merchants and vendors now use card readers, saving you the trouble of finding an ATM and the transaction charges.
- Pay your bills online. Move with the times and make your bill payments directly from your bank account.
- Save your free transactions for withdrawals only. Make non-financial transactions like balance enquiries, mini statements etc., through a facility such as mobile banking.
- Make use of your bank’s online platform to conduct financial transactions. You could download their banking app or use their online/ net banking feature