SBI revises limits for cash withdrawal at ATMs, branches: All you need to know
The revision of SBI cash withdrawal guidelines will affect the customers who want to make cash withdrawals from its ATMs, branches and via chequebook.
Amid the COVID-19 pandemic and restrictions of lockdowns, the State Bank of India on Sunday increased the non-home cash withdrawal limits through cheque and withdrawal form for its depositors. The revision by India’s largest lender will affect the customers who want to make cash withdrawals from its ATMs, branches and via chequebook.
SBI cash withdrawal guidelines
‘To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form,” the bank tweeted.
The new SBI cash withdrawal guidelines are as follows–
- Cash withdrawal for Self (using withdrawal form) accompanied by Savings Bank passbook has been revised to Rs 25,000/day
- Cash withdrawal for Self (using cheque) has been revised to Rs 1 Lakh
- Cash withdrawal by third party has been revised to Rs 50,000 (only using cheque).
The State Bank of India has noted that no cash payments to third parties by withdrawal forms will be allowed. Moreover, the KYC of the third party would have to be submitted in such cases. The revised limit for cash withdrawal has been launched for P Segment customers w.e.f July 1 and is valid upto September 30, 2021.
As per the latest SBI withdrawal charges on its website, the bank charges Rs 15 plus GST per cash withdrawal transaction at a Branch Channel or ATM. Charges beyond 4 free cash withdrawal transaction (including at ATM and branch) will be recovered and customers will be charged Rs 15 plus GST at all SBI and non-SBI ATMs beyond the limit.