Exploring the Revised Limit of ATM Withdrawals in India: A Comprehensive Guide for Cardholders

Welcome to this detailed guide on the revised limits for ATM withdrawals in India. This article is designed to answer all your questions about the banking regulations related to ATM withdrawals and help you understand how different factors can affect the withdrawal limits.

Understanding ATM Withdrawal Limits in India

ATM withdrawals in India are subject to various restrictions, which are determined by the type of card used, the bank offering the card, and the account type. It is crucial for cardholders to be aware of these limits and how they can be influenced by different factors.

Factors Affecting ATM Withdrawal Limits

The limits for ATM withdrawals in India can vary significantly based on several factors:

tCard Type: Different types of cards may have different daily withdrawal limits. For instance, some cards may allow a daily withdrawal of up to 75,000 INR, while others might have a limit of 20,000 INR per day. tBank or Card Provider: The institution issuing the card can also set specific withdrawal limits. Some banks may have stricter limits compared to others, so it is essential to check your card details for precise limits. tAccount Type: The type of account you hold can also impact your withdrawal limits. For example, if your account is a current account, the limit may be higher than it would be for a savings account.

Specific Withdrawal Limits by Card Type

There are a few key points to consider regarding the withdrawal limits based on the type of card:

tCredit Card: Credit cards typically have a daily withdrawal limit around 25,000 INR. However, these limits can vary depending on the specific credit card issuer. tDebit Card: Debit cards usually offer the same daily limit as credit cards, with most banks allowing a maximum of 20,000 INR per day. Some exceptions do apply, and it is recommended to check with your bank. tAgr_experience Card: For agricultural experience cards, the withdrawal limit is usually higher, often up to 50,000 INR per day, depending on the bank and account type. These cards are specifically designed to provide flexible access to funds for farmers and self-employed individuals. tRural Development Account (RDA): RDAs have a withdrawal limit that can be as high as 75,000 INR in a single day. This limit is intended to facilitate easier access to funds for rural communities.

Account Type and ATM Withdrawal Limits

The type of account you have can significantly affect the ATM withdrawal limits:

tSavings Account: Savings accounts generally have a lower withdrawal limit, often around 20,000 INR per day. tCurrent Account: Current accounts, also known as business accounts, usually have higher withdrawal limits, sometimes up to 75,000 INR or more per day. These accounts are designed for businesses with higher transaction volumes. tCredit Account: Credit accounts, which are similar to current accounts, also have higher withdrawal limits. They are ideal for businesses that need frequent and substantial fund access.

Bank-Specific Withdrawal Limits

Different banks in India may have their own set of withdrawal limits. Here are a few notable banks and their respective limits:

tHDFC Bank: Both credit and debit cards have a daily withdrawal limit of 20,000 INR. tICICI Bank: Credit cards have a limit of 25,000 INR, while debit cards have a limit of 20,000 INR. tAxis Bank: Credit cards can withdraw up to 25,000 INR per day, while debit cards are capped at 20,000 INR. tCanara Bank: The daily withdrawal limit for credit cards is 25,000 INR, and for debit cards, it is 20,000 INR.

Conclusion

Understanding the revised limits for ATM withdrawals in India is vital for managing your finances effectively. The limits can be influenced by factors such as the type of card, the bank, and the account type. As a cardholder, it is crucial to stay informed and check with your bank for the exact withdrawal limits applicable to your account.

Given the complexity and variability of ATM withdrawal limits, it is always a good idea to consult your bank directly or refer to your terms and conditions for the most accurate and up-to-date information.

Keywords

ATM Withdrawal Limit, India Banking Regulations, Card-based Withdrawals