New ATM charges and usage limits for free services will start at the State Bank of India (SBI) on February 1, 2025. Migrations affecting financial and non-financial operations will become effective throughout all SBI ATMs and bank ATMs.According to revised rules, all SBI savings bank account holders have five free transactions every month through SBI ATMs. The service offers ten free transactions to customers across all other bank ATMs regardless of their location status, whether they are situated in metro or non-metro regions.
Bank customers who maintain an average monthly balance of Rs 25,000 and Rs 50,000 will receive five free transactions monthly through other banking institution ATMs. The same free transaction benefit goes to account holders who keep their Average Monthly Balance between Rs 50,000 and Rs 1,00,000. The privilege of unlimited free ATM usage applies to SBI and other banks for all account holders who maintain AMB above Rs 1,00,000.
The Bank of India imposes Rs 15 plus GST for each transaction beyond the complimentary limit when customers use SBI ATMs. At other banks' Automatic Teller Machines, customers must pay Rs 21 and GST on every transaction. This fee structure will affect every SBI location, including urban metropolitan areas and other places.
Customers can access balance enquiries and mini statements at SBI ATMs without additional fees when the free transaction limit runs out. After exhausting the free usage benefits, customers must pay Rs 10 along with GST when performing these services at different banks' ATMs.Starting May 1, 2025, the Reserve Bank of India (RBI) has announced that maximum ATM withdrawal fees will reach Rs 23 for each transaction. The ATM interchange fee revision has led to this amendment regarding service fees above the stated free amount.
The statistics from government institutions demonstrate that SBI generated Rs 2,043 crore in profits from ATM cash withdrawals during the past five years. Nine other public sector banks (PSBs) generated a total loss of Rs 3,738.78 crore during that period, yet SBI managed to make a profit of Rs 2,043 crore.
Punjab National Bank, together with Canara Bank, made a profit alongside SBI in ATM transaction operations. The modified policies work to simplify SBI's ATM processing terms alongside promoting digital banking platforms for account holder use. The adjusted guidelines create uniform customer interactions in every regional domain. SBI made regulatory changes supporting customer comfort needs and operational maintenance expenses while adopting new industry standards in banking throughout India.