BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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5 free transactions
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7 free transactions
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3 free transactions
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2 free transactions
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Detailed explanation-1: -India Post permits cash withdrawals up to ₹ 25, 000 per day through its ATM card. India Post or Department of Post offers several types of accounts such as saving account, fixed deposit account, senior citizen savings scheme (SCSS) account and recurring deposit account.
Detailed explanation-2: -The cash withdrawal limit per day is Rs. 50, 000 (1, 00, 000 for HNI’s).
Detailed explanation-3: -Regardless of the location of the ATM, banks offer a minimum of five free financial transactions every month to customers with savings bank accounts. There will be a limited number of free non-cash withdrawal transactions available.
Detailed explanation-4: -The number of free transactions at other bank ATMs in metro cities is three and in non-metro cities is five. Post that, Rs 21-plus applicable taxes-will be charged for cash withdrawal and Rs 8.50, along with taxes, will be charged for non-financial transactions.
Detailed explanation-5: -It is worth noting that bank customers can also make 3 free transactions from other bank ATMs in metro and non-metro centres. According to RBI’s statement, “Customers are eligible for five free transactions (inclusive of financial and non-financial transactions) every month from their own bank ATMs.