SBI charges for ATM: Currently, for Metro Centre branches and Urban Centre branches, the requirement for Average Monthly Balance (AMB) is Rs 5,000 and Rs 3,000, respectively. SBI service charge gives relief to bank holders.
SBI Service Charges:
The State Bank of India (SBI) is revising its service charges soon. Some of the SBI service charge will continue to be charged as presently while on some others the charges have been drastically reduced. Importantly, the charges levied for non-maintenance of Monthly Average Balance (MAB) has been cut up to nearly 80 per cent. While transacting through digital modes such as NEFT and RTGS have been made lucrative, charges for cash withdrawals at branches have been tweaked a bit. The State Bank of India (SBI) is revising its service charges from October 1, 2019.
Penalty for non-maintenance of minimum balance
Currently, for Metro Centre branches and Urban Centre branches, the requirement for Average Monthly Balance (AMB) is Rs 5,000 and Rs 3,000, respectively. From October 1, AMB will be Rs 3,000 for both Metro Centre branches and Urban Centre branches. For someone not maintaining AMB of Rs 3,000 with a shortfall of more than 75 per cent at an Urban Centre branch, the penalty for non-maintenance of minimum balance has been cut from Rs 80 to Rs 15, a fall of more than 80 per cent! It is, therefore, suggested to keep a tab and do SBI balance check on frequent basis.
SBI monthly average balance from October 1
Also, currently, charges per month for Non-Maintenance of Monthly Average Balance (MAB) are levied on savings bank accounts, including Surabhi SB (Excluding All Salary Package Accounts, Basic Savings Bank Deposit, Small & PMJDY a/cs). From October 1, the exclusion will include All Salary Package Accounts, No Frill Accounts, Basic Savings Bank Deposit, Small and PMJDY accounts, Pehla Kadam and Pehli Udaan accounts, Minors up to the age group of 18, Pensioners of all categories, Recipients of social security welfare benefits(Direct Benefits) and accounts for students up to the age of 21 years
Cash Withdrawals
While number of free transactions per month through Internet/Mobile Banking, irrespective of average monthly balance will be unlimited, if the cash withdrawals are at the home or no-home branch, there will be the charges. The maximum cash withdrawal limit at Non-Home Branches for a savings account holder is Rs 50,000.
New ATM charge structure
The ATM charge structure has been revised. One way inter-changeability is allowed for branch transaction on ATM transactions. It means a customer will be allowed 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 there is no transaction at other Bank ATM and no transaction at the branch. For All Salary Package accounts at all locations, irrespective of variants, free and unlimited number of transactions at SBI ATMs, other Bank ATMs will be allowed.
