If you have an account in State Bank of India (SBI) and you often withdraw money from ATM, then this news is very useful for you. The bank has announced an important change in the cash withdrawal rules for its Basic Savings Bank Deposit (BSBD) account holders.
This new rule is going to come into effect from October 1, 2026. After this decision of the bank, now there will be additional burden on the pockets of customers if they withdraw cash more than the prescribed limit. Let us understand in detail what impact this new rule will have on common customers.
New withdrawal rules will be applicable from October 1
According to the new guidelines of SBI, after October 1, 2026, only the first 4 cash withdrawals every month from the BSBD account will be completely free. If an account holder withdraws cash more than 4 times within a month, he will have to pay a fee of ₹ 15 on each additional transaction.
Not only this, GST will also have to be paid separately on this base charge of ₹ 15. For example, understand that if you withdraw money 6 times in a month, then the first 4 withdrawals will be absolutely free, but on the 5th and 6th withdrawal of money, a charge of ₹15-₹15 plus applicable GST will be deducted.
After all, what is BSBD account of SBI?
BSBD i.e. Basic Savings Bank Deposit Account is a type of zero balance savings account. It has been specially designed to connect those people with the banking system, who want to use a bank account without the hassle of any minimum balance. There is no obligation for customers to maintain any minimum amount in this account.
Know the main features of this special account
With SBI's BSBD account, customers are given a basic RuPay ATM-cum-debit card, on which the bank does not charge any annual maintenance fee. Through this account, customers can easily withdraw cash from the bank branch or any ATM.
However, customers do not get the facility of check book in this zero balance account. The good thing is that there are no additional fees for sending or receiving money through digital methods like NEFT and RTGS. Also, if your account has been closed or inactive for a long time, the bank does not charge any fee for reactivating it.
Know this important condition before opening an account
If you are also planning to open a BSBD account in SBI, then it is very important to keep this main condition of the bank in mind. There should not be any other active savings account in SBI in your name. If you already have another savings account in the bank, then you will have to close your old account within exactly 30 days of opening a new BSBD account.
How can customers avoid this additional charge?
If you are a user of SBI BSBD account and visit ATM several times a month, then keep in mind these new changes which will be implemented from October 1, 2026. Avoid unnecessary cash withdrawals after the 4 free limit per month is over so that you don't have to pay extra ₹15 plus GST on every transaction. It would be wise to make a plan to withdraw cash as per your needs at the beginning of the month.