Shubham Jaiswal ([email protected])
State Bank of India (SBI) allows its account holder a fixed number of free cash withdrawals at bank branches. Whether the cash withdrawal exceeds the free limit, SBI levies certain charges for that.
However, these charges are not applicable to small/no frill deposit accounts, the bank stated on its website. An SBI account holder maintaining average monthly balance (AMB) up to ₹25,000 will be allowed two free cash withdrawals at bank branches.
An SBI account holder with 10 free cash withdrawals for an average monthly balance above ₹ 25,000 and up to ₹ 50,000. 15 free cash withdrawals will be allowed in bank branches above ₹ 50,000 and up to ₹ 1,00,000 in their account.
If the average monthly balance in your account is above ₹ 1,00,000, the account holder can make an unlimited number of free cash withdrawals.
Average Monthly Balance (AMB) in Savings Bank and number of free cash withdrawals per month.
* Upto ₹25,000 – 2
* Above ₹25,000- upto ₹50,000 – 10
* Above ₹50,000- upto Rs1,00,000 – 15
* Above ₹1,00,000- Unlimited
* Charges for transactions beyond the free limit — ₹50 + GST
SBI customers can do unlimited transactions in a month through internet or mobile banking.