SBI cash withdrawal from savings account: Know the latest rules

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

Jul 19, 2020 - 09:54

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SBI cash withdrawal from savings account: Know the latest rules

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/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 transactions 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

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Comments (4)

Rajesh Kumar

Somebody has commented courts should intervene ...feel like laughing . Courts nor media have time for this ... Media is a big joke in this country where they are paid by their political masters .

3 years ago Reply Like (0)
Rajesh kumar

Actually its a free run for biggies in this country now.This is our hard earned money and the staff is paid by the tax we pay from our hardearned income .Atm's have reduced the pressure on banks ,people dont go to bank for withdrawal now .Is it not a blessing for them.But banks are levying charges for withdrawal of oor money .Go to the banks for loans ,look at the interest they charge and if it is a collateral free loan they charge upto 16-17%.What do we get on fixed deposits 5.6% .And who is enjoying the loans...big corporates and chachas of gvt who knows they dont have to pay back.SO they enjoy a great life with our money and give huge donations to parties and then apply for a NPA ,start a new company later in anew name . This country has gone to the dogs ...cant help it .Lets live this life like a dead man ,cant hear or see anything .

3 years ago Reply Like (1)
Arundas Bairagi

Please Request to SBI please Stick up the Fix Policy, Like A Fuel Rate changed Every day, Same For SBI Time to Time Changed Our Customers Policies to Make a Confused.,What do Or What Not do, And Changes Not Cleared And Perfect. Servicemen How To make a Self recived Payments Planning.

3 years ago Reply Like (0)
Deepalok Deb

It is ironical that Bank charges any money for cash withdrawal of my own money. On one hand it is reducing the interest rate to a dismally low level, on the other hand Govt. is restricting people to keep cash with owner of it at home or elsewhere. Pathetic situation. Courts should intervene now.

3 years ago Reply Like (0)