New SBI ATM Withdrawal Limit To Come Into Effect From This Week

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    If you are a SBI customer and frequently do cash transactions at a ATM, you should not be giving this piece of information a miss, as it could be crucial in the long run. From October 31, 2018, you will be able to withdraw limited cash of Rs. 20,000 per day as against Rs. 40,000 earlier. This is mainly for Classic and Maestro debit card holders, so those of you who engage in heavy cash transactions via ATM may now apply for other ATM card variants to not hurt their cash supply via use of ATMs.

    New SBI ATM Withdrawal Limit To Come Into Effect From This Week

    On other debit cards, the cash withdrawal limit has been kept intact at Rs. 50,000 and Rs. 1 lakh respectively in case of SBI Gold and SBI platinum.

     "Daily cash withdrawal limits for Classic and Maestro debit cards reduced from Rs 40,000 to Rs 20,000 per day with effect from 31st Oct 2018. If you require a higher daily cash withdrawal limit, please apply for a higher card variant," SBI says on its website.

    The move by the largest public sector lender is in the wake of increased fraudulent transactions and as well an effort to boost digital transactions.

    Also, SBI has eased varying processes for its customer segment as it now accepts form 15 G or 15H to avoid TDS deduction on interest payable by bank in any of the SBI branch which in a earlier case was restricted to home branch. Also, now one could deposit a higher amount in a non-home branch which earlier was capped at Rs. 25,000

    Read more about: sbi cash atm
    Story first published: Monday, October 29, 2018, 6:01 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more