Crores of customers of State Bank of India (SBI) are going to get a big shock soon. In the coming times, withdrawing cash from SBI Bank is going to be much more expensive for the customers than before. If you also have a 'Basic Savings Bank Deposit' (BSBD) account in SBI i.e. an account with zero balance, then it is very important for you to know this important and new update.
SBI has made a major change in the cash withdrawal rules related to this special account. From October 1, 2026, for withdrawing cash more than 4 times in a month, Rs 15 plus GST will have to be paid directly on each extra transaction. This means that now not only the withdrawal of money by going to the bank branch, but the cash withdrawn through some digital platforms and ATMs will also be counted in these four occasions.
What are the rules now?
As per the current rules, the service of first 4 cash withdrawals every month in BSBD account is completely free. These four opportunities include withdrawing money from ATM of SBI or any other bank, withdrawing cash from bank branch and withdrawing cash through AEPS.
AEPS stands for 'Aadhaar Enabled Payment System'. This is a digital banking service through which customers can easily do bank transactions without ATM card or PIN, just with the help of their Aadhaar number and fingerprint (biometric).
Till now many types of digital transactions were completely excluded from the count of these four free transactions. But from October 1, this concession will end and the new rule will come into effect. After the completion of four free transactions, every additional cash withdrawal will be charged Rs 15 plus GST. If you have a BSBD account in SBI, then understand your cash withdrawal requirements and methods well before October 1, 2026. After withdrawing money for free four times in a month, if you withdraw only ₹ 500, you will have to pay extra charges.
What exactly is BSBD account?
SBI's Basic Savings Bank Deposit (BSBD) account is specially designed for those who want to avail banking services without the hassle of high charges and minimum balance. There is no compulsion to maintain any minimum balance in this account.
The account holder is also given a basic RuPay ATM-cum-debit card absolutely free and there is no annual maintenance charge. However, customers do not get check book facility in this account. To withdraw money, a withdrawal form has to be filled in the bank branch or an ATM can be used.
Who needs to take special care?
If you also withdraw cash through ATM, bank branch or AEPS centers several times a month, then from October you will have to keep a close eye on your every withdrawal. Once the limit of 4 free transactions is reached, an extra charge will be added every time you withdraw money. That means, on every additional withdrawal, Rs 15 and GST will be deducted directly from your account.
Along with this, there is another special condition associated with BSBD account. If you already have any other general savings account with SBI, it is mandatory for you to close your old savings account within 30 days of opening the BSBD account.
Which services are still absolutely free?
Even though new rules are being implemented on cash withdrawal, some digital facilities available to BSBD account holders will still remain completely free.
In this account, customers do not have to pay any charge on NEFT and RTGS credit received through electronic means. Apart from this, no fee is charged for depositing or collecting Central or State Government cheques. At the same time, if your account has become inoperative (closed or inactive), then the bank does not charge any charge for reactivating it.