New Delhi: State Bank of India (SBI) account holders have suffered a major setback. SBI has amended the rules to withdraw money from ATMs. As per the changed rules, now the account holders will be fined for exceeding the free transaction (free withdrawal) limit. Not only this, if the SBI account holder does not have a balance in the account, a penalty will also have to be paid for the failed transaction. These rules of SBI have come into effect from 1 July 2020.

SBI offers 8 times free transaction from bar ATM in metro cities. That is, if you live in Metro City, then you will not be charged any kind for withdrawing money from ATM 8 times a month, but if you withdraw more than this, you will have to pay a fine. According to the rules for withdrawing free money from SBI ATM, SBI account holders in metro cities can make 5 times transactions from SBI ATMs and can use ATMs of other banks 3 times. Mumbai, New Delhi, Chennai, Kolkata, Bangalore and Hyderabad are included in the metro cities.

Along with this, SBI account holders in non-metro cities can do free transactions from ATMs 10 times, in this 5 times transactions can be done from SBI ATMs and ATMs of 5 other banks. On crossing this limit, the bank can charge you a GST fee of Rs 10 to Rs 20.

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