Giving a Push to Digital Payments SBI increased the limit to transfer funds via phone banking. Now a customer can transfer up to Rs.25000 to his/her own account daily via mobile banking. State Bank of India also raise the limit for ATM transactions depending on urban, metro and rural areas.
Another major announcement by SBI said that customer’s have to pay Rs.22 and additional 18% GST charges on cardless transactions. Rs.10 + GST will be deducted if customer exceeds the free limit on ATM transactions. The charges will be applicable even if the transactions get declined due to insufficient balance.
Revised ATM Transactions Limits in SBI
The number of free transactions allowed in SBI ATM is as follows:
- Free transaction limit in metro cities in State Bank of India ATM is 8. It is applicable to 5 transactions in SBI ATM’s and 3 free transactions in non-SBI ATM’s
- For Non-Metro Cities: In these areas free transaction limit is 10 which includes 5 in SBI ATM’s and 5 in non-SBI ATM’s.
- Transactions exceeding the free limit will invite additional charges with 18% GST as listed above.
SBI Fund Transfer Limit over Phone Banking
To know about the fund transfer limit in State Bank of India, refer the table given below:
|Details||Present Daily Limits||Present Monthly Limits|
|Transfer in Own SBI Account||Rs.25,000||No Limit|
|Transfer in Third Party Account||Rs.10,000||Rs.50,000|
|Mobile OTP Needed||Transaction above Rs.5000||Transaction above Rs.5000|
State Bank of India Basic Savings Bank Account Holder or BSB’s can get 4 transactions free per month. If the free limit exceeds following prices will be charged
- For Withdrawal from SBI Branches: Rs.50 + Tax
- Withdrawal from SBI ATM: Rs.10 + Tax
- Withdrawal from non-SBI ATM: Rs.20 + Tax
These are the updated limits on SBI funds transfer limit and ATM charges up to now. For more updates, keep connected to Banking Raja.