ATM Withdrawal Fees: Explore the Charges Imposed by SBI, PNB, HDFC Bank, and ICICI Bank

Banks provide a set number of free ATM transactions to customers every month. If this limit is surpassed, customers will incur additional charges on each ATM transaction, whether it's financial or non-financial. 

As per the latest guidelines from the Reserve Bank of India, banks can impose a maximum fee of Rs 21 on each withdrawal beyond the free transaction limit.

Typically, most banks offer 5 free transactions to customers each month, and this limit does not carry forward to the next month if unused. Let's examine the withdrawal charges imposed by prominent lenders in the country.

Punjab National Bank ATM Withdrawal Charges:

PNB provides 5 free transactions each month at its ATMs in both metro and non-metro areas. Once the limit is reached, each transaction costs Rs 10, plus applicable taxes. 

At ATMs of other banks, PNB provides three complimentary transactions in metro cities and five in non-metro cities. Exceeding this limit incurs a charge of Rs 21, inclusive of taxes, for financial transactions, and Rs 9 plus taxes for non-financial transactions.

State Bank of India (SBI) ATM Withdrawal Charges:

SBI provides 5 complimentary transactions (inclusive of both non-financial and financial) at its ATMs for average monthly balances exceeding Rs 25,000. Transactions are unlimited above this amount. The charge for financial transactions exceeding the limit is Rs 10, including GST at SBI ATMs. However, at other bank ATMs, it is Rs.20 plus GST for each transaction.

ICICI Bank ATM Withdrawal Charges:

ICICI Bank sets a cap of 5 complimentary transactions in non-metro regions and 3 in 6 metro areas. Subsequently, a fee of Rs 8.5 is applied for each non-financial transaction, and Rs 21 for each financial transaction at ICICI Bank ATMs.

HDFC Bank ATM Withdrawal Charges:

HDFC Bank provides up to 5 complimentary transactions each month at its ATMs. In metro areas outside the bank network, the limit is 3 transactions, while in non-metro areas, it is 5. Beyond these limits, a charge of Rs 21 is applied for each financial transaction, and Rs 8.5 for every non-financial transaction.

RBI Guidelines on ATM Transactions:

In a circular released last year, the Reserve Bank of India stated, "Banks should offer a minimum of five free financial transactions per month to their savings bank account holders, regardless of the ATM's location. Non-cash withdrawal transactions will be costless.”

As per the RBI circular, for ATMs in six metro locations (Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, and New Delhi), banks must offer a minimum of three free transactions (including financial and non-financial transactions) per month to their savings bank account holders.

Also Read: Major News! With the latest UPI transaction limit rules, individuals can now make payments via UPI up to Rs.5 lakh per day