How Much Money Can You Withdraw From an ATM in India: If you’re wondering how much money you can withdraw from an ATM in India, you’re not alone. Many people are unsure about the exact limits and how they vary across different banks and account types. In this blog, we’ll clear up any confusion, explain the factors that influence ATM withdrawal limits, and give you the details about ATM limits for major banks in India.
General ATM Withdrawal Limit in India
In general, most ATM cards in India come with a daily withdrawal limit. This limit typically ranges from ₹10,000 to ₹1,00,000, depending on the bank and the type of account you have.
The daily withdrawal limit is set by banks to ensure safety and prevent fraudulent activity. However, you’ll find that the actual amount you can withdraw will depend on several factors, including your account type, the bank’s policies, and the ATM you’re using.
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How ATM Withdrawal Limits Vary by Account Type
Here’s an important point: not all accounts are the same when it comes to withdrawal limits. Different types of accounts come with different limits, so it’s crucial to know what kind of account you have and what privileges it offers. Let’s break this down:
- Basic Savings Account: These accounts usually have lower withdrawal limits to keep things simple. If you have this type of account, your daily ATM withdrawal limit might be closer to ₹20,000.
- Current Account: These accounts are often used by businesses and tend to come with higher withdrawal limits, often around ₹50,000 per day.
- Premium Accounts (Gold, Platinum, etc.): If you have a premium account, you typically enjoy a higher ATM withdrawal limit, which can go as high as ₹1,00,000 per day. These accounts often come with other benefits as well, like better interest rates or exclusive offers.
- Salary Accounts: Many people use salary accounts for their monthly pay, and these can sometimes have different limits compared to regular savings accounts, often around ₹25,000 to ₹50,000 daily, depending on the bank.
ATM Withdrawal Limits for 10 Major Indian Banks
Now, let’s get into the specifics of ATM withdrawal limits for some of the major banks in India. Here’s a breakdown for you:
- State Bank of India (SBI)
- Savings account: ₹20,000 daily
- Premium accounts: ₹1,00,000 daily
- ICICI Bank
- Savings account: ₹25,000 daily
- Current account: ₹50,000 daily
- HDFC Bank
- Savings account: ₹25,000 daily
- Premium accounts: ₹1,00,000 daily
- Axis Bank
- Savings account: ₹25,000 daily
- Premium accounts: ₹1,00,000 daily
- Punjab National Bank (PNB)
- Savings account: ₹20,000 daily
- Premium accounts: ₹1,00,000 daily
- Kotak Mahindra Bank
- Savings account: ₹25,000 daily
- Premium accounts: ₹1,00,000 daily
- Bank of Baroda
- Savings account: ₹20,000 daily
- Premium accounts: ₹1,00,000 daily
- Union Bank of India
- Savings account: ₹20,000 daily
- Premium accounts: ₹1,00,000 daily
- IDFC FIRST Bank
- Savings account: ₹50,000 daily
- Premium accounts: ₹1,00,000 daily
- Canara Bank
- Savings account: ₹20,000 daily
- Premium accounts: ₹1,00,000 daily
As you can see, most of the major banks offer similar withdrawal limits for basic savings accounts, usually around ₹20,000 to ₹25,000. However, if you have a premium account, you’re likely to enjoy a much higher limit, typically ₹1,00,000 per day.
How to Check Your ATM Withdrawal Limit
If you’re unsure about your ATM withdrawal limit, don’t worry. It’s easy to check! Here’s how you can find out:
- Mobile Banking Apps: Most banks offer a mobile banking app where you can easily check your account details, including your ATM withdrawal limit.
- Online Banking: If you’re not a fan of mobile apps, you can check your withdrawal limit by logging into your online banking account.
- Customer Service: If you can’t find the information online, you can always call your bank’s customer service to ask about your specific ATM withdrawal limit.
Increasing Your ATM Withdrawal Limit
Need to withdraw more than your usual daily limit? Many banks allow you to request a higher withdrawal limit, either temporarily or permanently. Here’s how:
- Permanent Increase: If you’re a frequent traveler or need higher limits for any reason, you can request a permanent increase in your withdrawal limit. This may require filling out a form or providing supporting documents.
- Temporary Increase: If you just need to withdraw more money for a specific event (like a wedding or vacation), many banks will allow you to temporarily increase your ATM limit for a short period.
- Fees for Increasing Limits: Some banks may charge a small fee for increasing your withdrawal limit, so it’s worth checking with your bank to see if there are any charges involved.
Other Considerations
There are a couple of other things to keep in mind when withdrawing money from an ATM in India:
- ATM Fees: Using third-party ATMs (ATMs not owned by your bank) might incur additional fees. So, if you’re in a pinch and need cash from an ATM outside your bank’s network, be prepared for some extra charges.
- Bank Charges: If you exceed your ATM withdrawal limit, some banks might charge a fee for the extra transaction, so it’s always a good idea to keep track of your withdrawals and stay within your limit.
Conclusion
Knowing your ATM withdrawal limit and understanding how it works can save you time and hassle. As we’ve seen, withdrawal limits can vary significantly between different account types and banks, so it’s essential to check your bank’s specific rules.
If you need to withdraw more than your daily limit, don’t forget that you can request an increase—just be mindful of any fees that may come with that request.
So, next time you’re at the ATM, you’ll know exactly how much you can take out and what to do if you need more!
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FAQs
1. Can I withdraw ₹50,000 from ATM?
Yes, you can withdraw ₹50,000 from an ATM, but this depends on your bank and account type. Most banks have a daily ATM withdrawal limit ranging from ₹20,000 to ₹50,000 for standard savings accounts. However, some premium accounts may allow higher limits, even up to ₹1,00,000 or more per day. Be sure to check with your bank for the exact limit on your account.
2. How much money can you withdraw from an ATM a day?
Typically, the daily withdrawal limit from an ATM ranges between ₹20,000 to ₹50,000 for standard savings accounts in India. Premium accounts may allow up to ₹1,00,000 per day, depending on the bank. However, this can vary based on your bank and the type of account you hold.
3. Can I withdraw ₹1 lakh from SBI ATM?
Yes, if you have a premium account with the State Bank of India (SBI), you may be able to withdraw ₹1 lakh per day from an SBI ATM. For regular savings accounts, the limit is usually ₹20,000. It’s always a good idea to check your specific account type’s withdrawal limit through mobile banking or customer service.
4. Can we withdraw ₹2 lakh from ATM?
No, most ATM systems in India do not allow withdrawals of ₹2 lakh from a single ATM. The daily withdrawal limit typically caps around ₹1 lakh for premium accounts. If you need to withdraw more than that, you may need to visit a bank branch or request a higher limit temporarily.
5. What are the new ATM rules?
Recent ATM rules in India have been updated to encourage digital transactions and ensure security. Some key changes include:
- No service charges for withdrawals from ATMs of your own bank.
- Increased limits for contactless card transactions.
- Introduction of EMV chip cards for enhanced security.
- Limits on withdrawals from third-party ATMs to prevent fraud.
- ATM withdrawal limits may vary between weekdays and weekends.
6. What is the limit of cash per day?
The daily ATM withdrawal limit is typically between ₹20,000 and ₹50,000 for standard accounts, with premium accounts offering limits up to ₹1 lakh or more. This varies depending on the bank, your account type, and any special arrangements you’ve made with your bank.
7. How to check ATM withdrawal limit?
You can check your ATM withdrawal limit through:
- Mobile banking apps: Most banks allow you to view your daily withdrawal limit within the app.
- Online banking: Log in to your bank’s website to check the limits on your account.
- Customer service: If you’re unsure, call your bank’s customer service for details on your ATM withdrawal limit.
8. How much cash is in an ATM?
The amount of cash available in an ATM varies depending on the ATM location and the time of day. On average, ATMs hold anywhere between ₹1 lakh to ₹5 lakh, though high-traffic ATMs in urban areas may have more. The cash supply is replenished by banks regularly to ensure the ATM doesn’t run out of money.
9. Why is ₹295 deducted from a BOI account?
The ₹295 deduction from a Bank of India (BOI) account could be for various reasons, such as:
- ATM transaction fees for non-bank ATMs.
- Annual maintenance charges for the account.
- SMS or mobile banking fees for notifications and alerts. It’s best to check your account statement or contact BOI customer service for a detailed explanation of the charges.
10. How much money can I withdraw from my savings account in one day?
The withdrawal limit for a savings account typically ranges from ₹20,000 to ₹50,000 per day for standard accounts. If you have a premium or salary account, you may be eligible for higher limits, up to ₹1 lakh or more. Always check with your bank to confirm the exact withdrawal limits for your specific account.