Latest SBI ATM transaction rules: State Bank of India (SBI) has announced a revision in its ATM transaction charges and free usage limits for various types of accounts, effective February 1, 2025. The revised structure aims to simplify fee slabs, encourage digital banking, and standardize usage limits across metro and non-metro locations. Here’s a detailed breakdown of what’s changing, who it affects, and how much you might be paying after the free limits.Is the government rewarding taxpayers? Here is a fact check
The changes impact both financial and non-financial transactions made through SBI and other bank ATMs.
Updated free transaction limits
Starting February 1, 2025, the State Bank of India (SBI) has revised the number of free ATM transactions available for savings account holders across various average monthly balance (AMB) brackets. Under the revised policy, all customers, irrespective of their AMB or location (metro or non-metro), will be entitled to 5 free transactions at SBI ATMs and 10 free transactions at other bank ATMs per month.For customers maintaining an AMB between Rs 25,000 and Rs 50,000, free transactions at other bank ATMs are now standardized to 5 per month. The same applies to those maintaining balances between Rs 50,000 and Rs 1,00,000. Meanwhile, account holders maintaining an AMB above Rs 1,00,000 will continue to enjoy unlimited free transactions at both SBI and other bank ATMs. This revision aims to simplify the ATM usage structure and provide a more consistent customer experience across locations.
Service charges at ATM
The State Bank of India (SBI) will revise its charges for savings account holders who exceed the permitted number of free ATM transactions per month. The charges vary based on the type of transaction (financial or non-financial) and the type of ATM used (SBI or other banks).
Once you have used up your monthly quota of free ATM transactions, SBI will charge you Rs 15 + GST per transaction at SBI ATMs, regardless of your location. If you use other banks’ ATMs, the charge is higher—Rs 21 + GST per transaction, across all areas, including metro cities.
Non-financial transactions
For services like balance enquiry, mini statement, etc., after the free limit, there is no charge at SBI ATMs. However, if you perform these at other banks’ ATMs, you will be charged Rs 10 + GST per transaction.
Charges for non-cash financial transactions (such as trust donations, etc.) are NIL per transaction at SBI ATMs. These services are not available at other banks’ ATMs for SBI customers.
Declined transactions due to insufficient balance:
If your ATM transaction fails due to insufficient funds in your savings account, the penalty remains Rs 20 + GST, unchanged from before.
The Reserve Bank of India (RBI) has raised the maximum ATM withdrawal fee to Rs 23 per transaction from May 1, 2025, following an increase in the ATM interchange fee.
From May 1, 2025, SBI customers should expect a higher ATM withdrawal fee of Rs 23 per transaction after exceeding their free monthly limit, up from the previous Rs 21, as announced by the RBI.
