SBI Vs ICICI Vs HDFC Vs Axis Vs PNB: Know All About Cash Withdrawal Limits

For a customer going to open a savings account in a bank, interest rate, liquidity, and account-related charges are all that should be kept in mind. And when it comes to a savings account it is the only short-term instrument that offers the best liquidity benefit which implies that account holders can make withdrawals to cover their emergency personal financial needs according to their convenience. However, banks have withdrawal limits for both bank branch and non-bank branch customers which vary from one bank to another. As a result, here we have discussed the withdrawal limits that are capped by four leading banks of India for their customers.

State Bank India (SBI) Cash Withdrawal Limit

Customers' cash withdrawal limits at non-home branches have recently been raised by SBI. SBI customers can now withdraw Rs 25,000 cash per day for self at non-home branches using a withdrawal form accompanied by a savings bank passbook. The cash withdrawal limit for self using cheque was capped up to Rs 1 lakh per day at branches by the bank. SBI has also raised the amount of cash that can be withdrawn by a third party using only a cheque up to Rs 50,000. SBI has also stated via its Twitter account that the revised ceilings are valid up to 30.09.2021. SBI has also said that no cash payments to third parties by withdrawal limit will be allowed and KYC of the third party to be submitted. For the benefit of the customers during the pandemic, SBI on May 29, 2021 has increased the non-home cash withdrawal limits through cheque and withdrawal forms. 

ICICI Bank Cash Withdrawal Limit

For cash transactions (deposits and withdrawals) at the base branch (all branches/Cash Recycler Machine (cash deposits) in the same city, ICICI Bank charges zero for the first four transactions in a month; thereafter, Rs.5 per thousand rupees or part thereof, subject to a minimum of Rs.150 in the same month (Maximum limit - self: Any Amount, Third party: Rs. 50,000 per day). ICICI Bank charges zero for the first cash withdrawal of a calendar month; thereafter, Rs.5 per thousand rupees or part thereof, subject to a minimum of Rs.150 (Maximum withdrawal limit - Self: Any Amount, Third party: Rs.15,000 per day). ICICI Bank charges zero for the first five transactions (both financial and non-financial) in a month from ICICI Bank ATMs / Cash Recycler Machines (cash withdrawals), and then Rs.20 per financial transaction and Rs. 8.50 per non-financial transaction after that.

HDFC Bank Cash Withdrawal Limit

Regarding the cash withdrawal limit HDFC Bank has mentioned on its official website that "Get anytime, anywhere cash from our network of over 12,000 ATMs. You can also withdraw cash from any non-HDFC Bank ATM. You can withdraw up to Rs 10,000 a day using an ATM card from an HDFC Bank ATM and Rs 25,000 or more using a debit card (depending on the kind of card you have). During banking hours, you can walk into any HDFC Bank branch and withdraw cash using a withdrawal slip or cheque or deposit cash after filling up a deposit slip." According to the bank's official website, non-home branch cash withdrawals are free up to Rs.1,00,000/- per day, after which charges apply at Rs.2/1000, with a minimum of Rs.50/- per transaction; third party cash withdrawals are limited to Rs. 50,000/- per transaction.

Axis Bank Cash Withdrawal Limit

Axis Bank allows a cash withdrawal limit of Rs 40,000 per ay ATM for all Visa Classic/Platinum Debit Cardholders. For the convenience of the customers, Axis Bank has directly mentioned on its official website that "Cash withdrawal limit for use at the ATM of the issuing bank is set by the Bank during the issuance of the card and may depend on the type of account/card. For cash withdrawals at other bank ATMs, banks have decided to maintain a limit of Rs. 10,000 per transaction."      

Punjab National Bank (PNB) Cash Withdrawal Limit

Punjab National Bank (PNB) offers three types of debit cards i.e. Platinum, Classic, and Gold for its customers. For these three variants of cards PNB has set the below-listed limit for cash withdrawals:

Platinum

There are two variants under this. Rupay and Master.

Cash withdrawal limit per day: 50000
Cash withdrawal limit one time: 20000
ECOM/POS Consolidated Limit: 125000

CLASSIC

There are two variants under this Rupay and Master. Personalised and Non Personalised debit cards can be issued with the following usage limits:

Cash withdrawal limit per day: 25000
Cash withdrawal limit one time: 20000
ECOM/POS Consolidated Limit: 60000

GOLD

There is one variant under this, VISA. Personalized and Non Personalised debit cards can be issued:

Cash withdrawal limit per day: 50000
Cash withdrawal limit one time: 20000
ECOM/POS Consolidated Limit: 125000

Source: Punjab National Bank