SBI Revises ATM Charges: What It Means for You

The State Bank of India (SBI) has introduced changes to its ATM transaction policies, which took effect from February 1, 2025. These revisions impact both financial and non-financial ATM transactions for savings account holders using SBI and other bank ATMs.

The update aims to standardise ATM usage limits, encourage digital banking, and create a more uniform customer experience across metro and non-metro regions, as per news reports.

Key Changes to Free Transaction Limits

Under the revised structure, SBI has streamlined the number of free ATM transactions based on the average monthly balance (AMB) maintained in savings accounts:

• All savings account holders now receive: 5 free transactions at SBI ATMs, and 10 free transactions at other bank ATMs per month, regardless of location.

• For customers maintaining an AMB between ₹25,000 and ₹1,00,000, free transactions at other bank ATMs are now capped at 5 per month.

• Those maintaining an AMB above ₹1,00,000 will continue to enjoy unlimited free transactions at both SBI and non-SBI ATMs.

Revised ATM Charges Beyond Free Limits

• After the free quota is exhausted, SBI will apply the following charges:
• Financial transactions: ₹15 + GST per transaction at SBI ATMs and ₹21 + GST per transaction at other bank ATMs.
• Non-financial transactions (e.g., balance enquiry, mini statement): No charge at SBI ATMs beyond free limit and ₹10 + GST per transaction at other bank ATMs.
• Failed transactions due to insufficient balance will continue to incur a penalty of ₹20 + GST.
• Non-cash financial services (like donations) remain free at SBI ATMs, but are not available at ATMs of other banks.

Read More: Can I Pay My Electricity Bill Through EMI? Here’s What You Need to Know.

Upcoming Fee Revision by RBI from May 2025

In addition to SBI’s changes, the Reserve Bank of India (RBI) has announced a hike in ATM withdrawal fees:

• From May 1, 2025, the maximum charge per ATM transaction after the free limit will increase to ₹23.
• This change follows a revision in ATM interchange fees, impacting customers across banks, including SBI.

Conclusion

With the new rules in place, SBI customers are advised to review their average monthly balances and ATM usage habits to avoid additional charges. The bank’s move aims to promote digital banking while offering a more standardized structure for ATM transactions.

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