SBI Basic Savings Account withdrawal rules are set to change from October 1, 2026, with the State Bank of India revising the service charges applicable to Basic Savings Bank Deposit (BSBD) accounts.
Under the revised rules, the first four cash withdrawals in a month will remain free. However, customers making additional cash withdrawals beyond this limit will have to pay a charge of ₹15 per transaction, plus applicable GST.
The change is important for BSBD account holders who frequently withdraw cash through banking channels. Customers may need to plan their withdrawals more carefully once the revised charges take effect.
SBI Basic Savings Account Withdrawal Rules From October 1
The new SBI rules will provide four free cash withdrawals each month for BSBD account holders. Withdrawals beyond the free limit will attract a charge of ₹15 per transaction, along with GST.
The Basic Savings Bank Deposit Account is designed to provide essential banking facilities without requiring customers to maintain a minimum balance.
SBI’s published policy describes BSBD accounts as deposit accounts intended to promote greater financial inclusion.
Who Will Be Affected By The New Charges?
The revised charges will matter mainly to customers who make more than four chargeable cash withdrawals in a month. Those who stay within the four-withdrawal free limit will not have to pay the additional ₹15 charge for these withdrawals.
The four-withdrawal limit is therefore important for customers who depend heavily on cash transactions. Making fewer, planned withdrawals could help them avoid additional service charges.
SBI’s BSBD account already provides basic banking facilities, including cash deposits and withdrawals, electronic credits and an ATM or debit card facility. The account does not require a minimum balance.
What Is An SBI BSBD Account?
A Basic Savings Bank Deposit account is a savings account aimed at providing basic banking services and encouraging financial inclusion. One of its key features is that customers are not required to maintain a minimum balance.
The account allows customers to deposit money and access funds through permitted banking channels. SBI’s policy also provides for electronic payment channels and other basic services under the BSBD framework.
SBI has previously stated that the first four withdrawals under its BSBD framework are free, while withdrawals beyond four can attract a ₹15 charge plus GST.
What SBI Customers Should Do
Customers with an SBI Basic Savings Bank Deposit account should check their monthly cash withdrawal requirements before the new rules take effect on October 1, 2026.
Those who regularly withdraw cash more than four times a month should take the revised charge into account while managing their banking transactions.
The key change is that the first four withdrawals remain free, while additional withdrawals will carry a ₹15 charge plus GST.
Customers should also check SBI’s latest official service-charge schedule for the terms applicable to their specific account.
