State Bank of India (SBI) has changed cash withdrawal rules for Basic Savings Bank Deposit (BSBD) account holders. From 1 October 2026, every extra cash withdrawal beyond four free transactions in a month will cost Rs 15 plus GST. The new charge will apply even if you withdraw just Rs 500.
Four Free Cash Withdrawals Every Month
BSBD account holders get four free cash withdrawals every month. This covers cash taken from SBI ATMs and ATMs of other banks. Branch counter withdrawals and AEPS cash withdrawals are also included. AEPS stands for Aadhaar Enabled Payment System. It lets customers transact using their Aadhaar number and fingerprint. No ATM card or PIN is needed for AEPS transactions. To withdraw cash at a branch, customers must fill a withdrawal form or slip.
Digital Withdrawals Now Count in the Limit
Until now, digital transactions were kept outside the four free transaction count. From 1 October this rule will change. Every extra cash withdrawal after the free limit will attract Rs 15 plus GST. The change will hit customers who use multiple withdrawal channels every month. Such customers must track their monthly count carefully.
What Is a BSBD Account?
The BSBD account is built for customers who want banking without high charges or minimum balance worries. No minimum balance is required in this account. Account holders get a free basic RuPay ATM-cum-debit card. This account suits customers who want simple banking at low cost. No annual maintenance charge is levied on this card. However, the account does not offer a cheque book facility.
Other Conditions and Free Services
Customers who already hold another SBI savings account must close it within 30 days of opening a BSBD account. NEFT and RTGS credits received through electronic channels carry no charge. Deposits and collections of central or state government cheques are also free. Reactivating an inoperative account does not attract any charge either.
