SBI account holder? New rule is coming for your cash withdrawal from Oct 1 - Check charges you need to pay
State Bank of India has updated service charges for Basic Savings Bank Deposit accounts, effective October 1, 2026.
State Bank of India (SBI) has revised its service charges for customers who hold Basic Savings Bank Deposit (BSBD) accounts. The new rules will apply from October 1, 2026.
Under the new rules, BSBD account holders will continue to have a total of four free cash withdrawals per month. Following this, the bank will charge ₹15 plus GST for each additional cash withdrawal. However, digital transactions are completely free.
The four free withdrawals cover cash withdrawals through SBI and other bank ATMs, branch channels, etc.
What are BSBD accounts?
SBI’s Basic Savings Bank Deposit (BSBD) account is designed for those who want a simple bank account without the burden of maintaining a minimum balance.
However, the account includes basic banking services. Customers can withdraw money from branches using a withdrawal form or through ATMs. SBI provides a basic RuPay ATM-cum-debit card, but the account does not come with a cheque book facility.
Several services remain free for BSBD account holders. These include:
- Issuance and annual maintenance of the basic RuPay ATM-cum-debit card, as well as electronic credits through channels such as NEFT and RTGS.
- Deposits or collection of cheques issued by the central or state governments are also free.
- SBI does not levy charges for activating an inoperative account, although account closure charges apply.
What are the eligibility criteria?
There are also eligibility conditions for opening an SBI BSBD account. A customer holding such an account cannot have another savings bank account with SBI. If an existing savings account holder opens a BSBD account, the other savings account has to be closed within 30 days.
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