SBI ATM charges: How many free transactions allowed? New limit and charges explained

Explained below are the State Bank of India (SBI) ATM rules which include cash withdrawal limit and charges, international transaction rules and more.

Customers with a monthly balance of up to 1 lakh can get five free transactions at SBI ATMs in Delhi, Mumbai, Kolkata, Chennai, Bengaluru, and Hyderabad. When using SBI cards at ATMs owned by other banks, however, just three free transactions are permitted.

SBI would charge Rs 5-20 for transactions at ATMs from other banks after the free limit is reached, depending on the type of transaction and the ATM. SBI charges Rs 10 for withdrawals from the bank's ATMs that exceed the free limit, and Rs 20 for financial transactions from other ATMs that exceed the free limit.

Customers are charged Rs 5 at SBI ATMs and Rs 8 at other banks' ATMs for non-financial transactions such as checking account balances.

Those with a monthly balance of over Rs 1 lakh are entitled to unlimited free ATM withdrawals from SBI and other banks.
When it comes to international transactions, the bank will charge Rs 100 plus 3.5% of the transaction amount for transactions made at ATMs, and 3% of the transaction amount for transactions done at point of sale overseas. SBI will charge Rs 20 to everyone who has insufficient balance in their account and has a transaction refused because of it.

SBI recently raised their deposit and lending rates

State Bank of India (SBI) said on its website that interest rates have been raised by 0.20% on domestic term deposits of below Rs 2 crore for select tenors. The revised interest rates on retail domestic term deposits (below Rs 2 crore) come into effect from June 14, 2022.

For Fixed Deposits of 211 days to less than 1 year, the lender will enjoy an interest rate of 4.60%, as against 4.40% earlier. Senior citizens will be given an interest rate of 5.10% against 4.90% earlier.

Likewise, for domestic term deposits of 1 year to less than 2 years, customers can earn interest of 5.30%, up by 0.20%. For senior citizens, the interest rate will be higher by similar margin at 5.80%.

On tenure of 2 years to less than 3 years, SBI has raised the interest rate to 5.35% from 5.20%, while senior citizens can earn 5.85% as against 5.70% earlier.

The lender has also revised the interest rates on domestic bulk term deposits of Rs 2 crore and above for select tenors by up to 0.75%.

For tenors of 1 year to less than 2 years, customers having bulk deposits will earn interest at 4.75% from 4% earlier, with effect from June 14, 2022. For senior citizens, the new rate will be 5.25% as against 4.50%.

(With PTI inputs)