SBI: 10 free withdrawals per month allowed
Posted on: 05/Mar/2017 7:50:15 PM
During these days when other banks have decided to limit the number of transactions per month including deposit and withdrawal only up to 4 or 5 times, the leading public sector bank in the country, the State Bank of India, has sprung a pleasant surprise for its customers.
Yes! SBI customers can enjoy free transactions up to 10 times in a month. To recall the recent scenario, several spheres of activities were severely affected after the announcement of the demonetization. Especially, the public had to face severe hardships for cash. With the release of the new Rs. 2000 and Rs. 500 currency notes, the ATMs were crowded with a long line of people to withdraw cash.
Considering the hardships faced by the public, the central government provided some sort of relief by announcing that cash can be withdrawn from ATMs for an unlimited number of times without paying any charges.
With the effects of the demonetization starting somewhat abating, many private banks have now announced the restriction for the number of transactions in a month without any charges.
The private banks have announced that additional charges from Rs. 50 to Rs. 150 will be collected if money is withdrawn from ATMs for more than 3 times.
In this situation, the State Bank of India has announced that its customers can withdraw cash from ATMs free up to 10 times in a month.
SBI has announced that this will be effective from 1st April. Another condition already announced by SBI is that the customers must have a minimum bank balance of Rs. 5000 in their accounts.
The State Bank of India has, indeed, sprung a pleasant surprise for its customers.
