Check out the new ATM withdrawal rules of State Bank Of India

The State Bank of India has now revised the ATM withdrawal rules with effect from 1 July. The withdrawal rules were initially relaxed amid the coronavirus induced lockdown period which expired on June 30th."In view of the announcement made by Finance Minister on 24th March, State Bank of India has decided to waive ATM charges for all ATM transactions made on SBI ATMs and other bank ATMs on account of exceeding free number of transactions up to 30th June," the announcement was posted on SBI's official website.

Here are the new rules that will  be applicable for all transactions at the ATMs of SBI account holders: 

- What are the new rules for account holders with upto ₹25,000 average monthly balance in their savings bank account?

These account holders will get eight free transactions, including five transactions at SBI ATMs and three at other bank ATMs. However, this is will be applicable in six metro centers (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad). In non-metros, such account holders will avail 10 free transactions, including five at SBI ATMs and five at others.

- What are the new rules for account holders with above ₹25,000 and upto ₹50,000 average monthly balance in their savings bank account?

These account holders will get 8 free transactions at other bank ATMs ( 3 in metros, 5 non-metros).

- What are the new rules for customers who maintain an average balance of more than ₹25,000 in their savings accounts?

The customer will be allowed to to have unlimited transactions at the State Bank Group ATMs. 

- What are the new rules for customers who maintain an average balance between ₹50,000 to ₹10,0000?

The customer will get 8 free transactions at other bank ATMs ( 3 in metros, 5 non-metros).

- What are the new rules for customers who maintain an average balance of more than ₹1,00,000 in their savings accounts?

SBI will allow such account holders unlimited transactions at SBG ATMs as well as other banks ATMs.

- What are the new rules for additional financial transactions beyond the set limit?

SBI will charge customer a fee ranging from ₹10 plus GST to ₹20 plus GST.

- What are the new rules for any additional non- financial transactions beyond the set limit?

SBI will charge customer a fee ranging from ₹5 plus GST to ₹8 plus GST.

- What are the new rules applicable if transaction decline due to insufficient balance?

SBI will charge customer a fee of ₹20 plus GST.

- What are the new rules applicable for all salary accounts at all locations?

SBI will offer free unlimited transactions at SBG ATMs and other bank ATMs.

In addition the bank will allow one way inter-changeability for branch transaction on ATM transactions. Which means a customer will be able to avail a maximum of 10 free debit transactions at 6 Metro centres at SBI ATMs and maximum 12 free debit transactions at other centre ATMs (If no transaction at other Bank ATM and no transaction at the branch).