ATM withdrawal costs: Banks provide solely a specified variety of free ATM transactions every month and this varies relying on the kind of financial savings account chosen. When the prescribed restrict is exceeded, banks levy a charge on any extra transaction, together with monetary and non-financial companies. Free transactions and costs range if the withdrawal is constructed from one other financial institution’s ATM.
ATM withdrawal costs: In June of final 12 months, the RBI granted banks permission to cost as much as Rs. 21 per transaction at an ATM (Automated Teller Machine) along with the month-to-month free transaction cap, starting on January 1, 2022. In response to the RBI round dated June 10, 2023, “Clients are eligible for 5 free transactions (inclusive of economic and non-financial transactions) each month from their very own financial institution ATMs. They’re additionally eligible at no cost transactions (inclusive of economic and non-financial transactions) from different financial institution ATMs viz. three transactions in metro centres and 5 transactions in non-metro centres. Past the free transactions, the ceiling / cap on buyer costs is Rs 20 per transaction. To compensate the banks for the upper interchange charge and given the overall escalation in prices, they’re allowed to extend the client costs to Rs 21 per transaction. This enhance shall be efficient from January 1, 2022.”
Listed here are newest ATM withdrawal costs of high banks like SBI, ICICI Financial institution, HDFC Financial institution and Punjab Nationwide Financial institution, as per the respective financial institution web sites.
SBI ATM withdrawal costs
State Financial institution of India affords 5 free transactions (together with monetary and non-financial) at SBI ATMs for common month-to-month balances of as much as Rs 25000 and above this quantity, transaction is limitless. Expenses for monetary transactions past the set restrict is Rs 10 + GST at SBI ATMs and Rs 20 + GST at different financial institution ATMs.
PNB ATM withdrawal costs
PNB gives 5 free transactions per 30 days at PNB ATMs positioned in Metro and Non-Metro Areas. After the stipulated restrict, every transaction will value Rs 10/- + relevant taxes.
At different financial institution ATMS, PNB affords three free transactions in metro cities and 5 free transactions in non-metro cities. After that, the financial institution would cost Rs Rs 21/- plus relevant taxes for monetary transactions and Rs 9 plus tax for non-financial transactions.
HDFC Financial institution ATM withdrawal costs
HDFC Financial institution gives 5 free transactions at its ATMs. At different banks financial institution provide three free transactions in metro places, after which it costs Rs 21/- plus relevant taxes for money withdrawals.
ICICI Financial institution ATM withdrawal costs
Relating to free withdrawals, ICICI Financial institution follows the identical 3- and 5-transaction guidelines as different banks. Thereafter, Rs.20 per monetary transaction and Rs. 8.50 per non monetary transaction.