SBI Cuts Free ATM Limits for Salary Accounts Alongside New Bulk FD Norms

Public Lokpal
October 02, 2026

New Delhi:The State Bank of India (SBI) has officially reduced the monthly free transaction limit for Salary Package Account holders using other banks' ATMs and Automated Deposit-cum-Withdrawal Machines (ADWMs) from 10 to 5.

This revised cap covers a combined pool of both financial (cash withdrawals) and non-financial operations (balance inquiries and mini-statements). Once exhausted, extra transactions attract standard fees of ₹23 plus GST for cash withdrawals and ₹11 plus GST for non-financial checks. Transactions at SBI's own machines and digital/UPI payments remain completely unaffected and free.

Simultaneously, new regulatory norms governing bulk fixed deposits (FDs) have taken effect to enhance market transparency. Commercial banks are now mandated to publicly disclose their bulk deposit interest rates in advance. Furthermore, institutions must publish applicable rates daily at 10:00 AM, ensuring uniform pricing for similar deposits except where differences are permitted under the Liquidity Coverage Ratio (LCR) framework.

These adjustments urge salary account holders to optimize digital platforms or native SBI ATMs to avoid service penalties, while providing corporate and institutional investors with structured, transparent daily rate disclosures.