SBI revises BSBD account withdrawal charges from October 1, 2026; check details

State Bank of India (SBI) has revised its service charges for customers holding Basic Savings Bank Deposit (BSBD) accounts, with changes to the way free cash withdrawals are counted. The revised rules will come into effect from October 1, 2026.

Under the new rules, BSBD account holders will continue to get four free cash withdrawals every month. However, any cash withdrawal beyond the first four will attract a charge of Rs 15 plus Goods and Services Tax (GST) per transaction.

The revised rule also changes what counts towards the monthly free withdrawal limit. Earlier, digital transactions were excluded while calculating the four free transactions. Under the new framework, that exclusion has been removed.

The four free withdrawals will include ATM cash withdrawals at SBI and other banks, cash withdrawals through the branch channel and cash transactions through Aadhaar Enabled Payment System (AEPS).

What is SBI BSBD Account?

A Basic Savings Bank Deposit account is designed primarily to promote financial inclusion by allowing customers, particularly those from lower-income sections, to access basic banking services without the burden of maintaining a minimum balance.

SBI does not require BSBD account holders to maintain a minimum balance. However, the account does not offer a cheque book facility. Customers can withdraw money at branches using a withdrawal form or through ATMs. Account holders are also provided with a basic RuPay ATM-cum-debit card.

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Customers opening an SBI BSBD account cannot simultaneously maintain another savings bank account with the bank. If a customer already has an SBI savings account, it must be closed within 30 days of opening the BSBD account.

Which services are free of cost?

Apart from four free cash withdrawals each month, SBI offers several services without charges to BSBD account holders.

The basic RuPay ATM-cum-debit card is issued free of cost, and customers are not required to pay an annual maintenance charge for the card. Electronic credits through payment channels such as NEFT and RTGS are also free.

Deposits or collection of cheques issued by the central or state governments do not attract charges. SBI also does not levy a fee for activating an inoperative BSBD account.

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However, customers should note that account closure charges may apply.

The revised withdrawal rules make it important for BSBD account holders to track their monthly cash transactions, particularly if they frequently use ATMs, branches or AEPS services. Exceeding the four free withdrawals could result in additional charges from October 1.

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