ATM Withdrawal Rule: Depending on the bank and the kind of account owned, there are different limits on the number of free cash withdrawals. Below is a summary of some of the main banks’ free withdrawal limits:
State Bank of India (SBI)
A monthly cap on free ATM transactions, encompassing both financial and non-financial activities, is enforced by SBI. The kind of account and the average monthly balance maintained are two criteria that affect the number of free transactions [2]. At SBI ATMs, for instance, users who have an average monthly balance of at least Rs. 1 lakh may be qualified for limitless free transactions.
Other Banks
Like SBI, other Indian banks also provide a monthly allotment of free ATM transactions, contingent on account type and average monthly amount, among other variables. ATMs operated by their own bank usually have a limited amount of free transactions per customer; if this limit is exceeded, there may be additional fees.
Urban vs. Rural Areas
Certain banks have varied free withdrawal limitations depending on where the ATM is located. Customers in urban locations might be eligible for more free transactions than those in rural ones, for instance.
