Here’s a look at the number of free ATM transactions allowed by SBI, ICICI Bank and HDFC Bank to their customers every month, and the charges levied for additional transactions thereafter:
State Bank of India (SBI)
SBI allows its customers to make unlimited transactions at State Bank group ATMs free of cost under certain conditions. The customer is required to have maintained a certain monthly average balance in the previous month to be eligible for this service. For example, if the customer maintains an MAB of more than Rs 1 lakh in a month, he or she is allowed to make unlimited transactions at State Bank group ATMs the next month, according to the bank’s website.
|PREVIOUS MONTH MAB IN SAVINGS BANK ACCOUNT||CHARGES BEYOND PERMITTED NUMBER OF FREE TRANSACTIONS|
|Unlimited transactions via mobile/internet banking||Above Rs 25,000||Rs 5 for financial transactions|
|Unlimited transactions at other bank ATMs||Above Rs 1 lakh||Rs 20 for financial transactions; Rs 8 for non-financial transactions|
|Unlimited transactions at State Bank group ATMS||Above Rs 25,000||Rs 10 for financial transactions; Rs 5 for non-financial transactions|
If the customer is not able to meet the conditions that make him or her eligible for unlimited transactions at ATMs in a month, there are certain charges that apply for any transactions above the permitted monthly limit of free transactions. For any such transactions at SBI group ATMs, the bank levies a fee of Rs 10 for every financial transaction – which means a transaction involving cash – and Rs 5 for every non-financial transaction.
|FREE TRANSACTIONS IN A MONTH AT ICICI BANK ATMS||FREE TRANSACTIONS IN A MONTH AT NON-ICICI BANK ATMS||CHARGES BEYOND THE PERMITTED NUMBER OF FREE TRANSACTIONS|
|3 (inclusive of financial and non-financial)||3 in 6 metro locations (inclusive of financial and non financial)||Rs 20 per financial transaction and Rs. 8.50 per non financial transaction|
|5 in other location (inclusive of financial and non-financial)|
|Maximum of 5 in a month with a cap of 3 in 6 metro locations|
Additional transactions – over and above the permitted number of free transactions in any case – are charged at Rs 20 per financial transaction and Rs. 8.50 per non-financial transaction, according to ICICI Bank.
HDFC Bank allows customers holding savings and salary accounts with it five transactions free of cost every month at its own ATMs, according to its website – hdfcbank.com. At ATMs of other banks, HDFC Bank allows such customers three transactions free of cost in metros and five transactions free of cost in non-metros, according to the bank.
|ACCOUNT TYPE||NO. OF FREE TRANSACTIONS PER MONTH AT HDFC BANK ATMS||NO. OF FREE TRANSACTIONS PER MONTH AT OTHER BANK ATMS||CHARGES BEYOND PRESCRIBED LIMIT OF FREE|
|Savings and salary account||5||3 at metro ATMs; 5 at non-metro ATMs||Rs 20 plus applicable taxes for cash withdrawal; Rs 8.50 plus applicable taxes for non-financial transaction|
|Current account (Flexi, Plus, Max, Apex, Ultima, Merchant Advantage Plus and Supreme Current Account)||Unlimited||3 at metro ATMs; 5 at non-metro ATMs||Rs 20 plus applicable taxes for cash withdrawal and non-financial transaction|
Additional transactions – beyond the permitted number of free transactions – are charged at Rs 20 plus applicable taxes per cash withdrawal, and Rs 8.50 plus applicable taxes per non-financial transaction, according to the HDFC Bank website.