SBI New Rules for ATM
SBI NEW RULES FROM 1st APRIL 2017
- 3 times deposit free in your account. After more than 3 times deposit, you will pay 50/- per deposit.
- Minimum 5000/- balance to be maintained in metro city branch account holder.
- Minimum 3000/- balance to be maintained in city/town branch account holder.
- Minimum 2000/- balance to be maintained in semi-urban area branch account holder.
- Minimum 1000/- balance to be maintained in villages branch account holder
- If you do not maintain a minimum amount in your account, you will pay up to Rs.200/- + extra surcharge. (depending on the number of days)
- SBI ATM free for 5 times use, after 5 times you will pay 10/- per transaction.
- Other bank ATM free for 3 times use, after 3 times you will pay 20/- per transaction.
- Unlimited SBI ATM use without any charges, If you maintain 25000/- in your SBI savings account.
- Unlimited SBI & OTHER BANK ATM use without any charges, If you maintain 100000/- in your SBI savings account.
- 15/- SMS charge you will pay after 3 months, (SMS charge-free, If you maintain 25000/- in your SBI savings account)
ALL Branch Transaction Rule :
|Bank Name||Free transactions (month)||Fees for Transactions Beyond Free Limit|
|Own Bank ATM||Other Bank ATM||Financial||Non-Financial|
|HDFC Bank||5||3||Rs.20 + service tax||Rs.8.50 + service tax|
|Punjab National Bank||Unlimited||5||Rs.20||Rs.20|
|Axis Bank||5||3||Rs. 20+ service tax||Rs. 9.55|
|Kotak||Unlimited||5||Rs.20 + service tax||Rs.8.50 + service tax|
|ICICI Bank||5||3||Rs. 20+ service tax||Rs.8.50 + service tax|
|State Bank of India||Unlimited (for salary accounts)||Unlimited (for salary accounts)||–||–|
|Canara Bank||Unlimited||5||Rs.20 + service tax||Rs.10 + service tax|
|Bank of Baroda||Unlimited||Depends on the policies of those banks||Rs.20 + service tax||Rs.10 + service tax|
ATM withdrawal charges for SBI
|Average Monthly Balance||Same branch ATMs||Other Bank ATMs (metro)||Other Bank ATMs (non-metro)|
|Less than Rs.1000||5||3||5|
|More than Rs.1000 to Rs.25,000||5||3||5|
|More than Rs.25,000 to Rs.50,000||no limit||3||5|
|More than Rs.50,000 to Rs.1,00,000||no limit||3||5|
|More than Rs.1,00,000||no limit||no limit||no limit|
Now the question arises what actually should be done ??
To withdraw your own money you have to pay a service charge to the Bank. You pay service tax on the service charge to the government. Then why do we plan to put in a bank account? If it looks like a step towards a digital India then we should not forget that maximum SBI user or better say maximum users in India are ignorant of the technology i.e they lack mobile banking, online transnational knowledge, digital payment usage security measures.
Giants Like SBI should have planned some mass movement in terms of digitization in the rural areas by giving them training. They should first educate common people about the usage of digital methods. But if you read their new clauses you will realize that the steps are actually aimed to hold money in the bank and not digitization.
Insensitive Step by SBI
Common people of country are not ready for these new changes. By introducing them,these banks have shown their Insensitivity towards their customers .
In order to save ourselves from the transaction fees, we can proceed towards training and learning the usage of mobile banking , online transaction and paying utilities via Credit/Debit card as much as possible .