The State Bank of India (SBI) is changing the cash withdrawal charges for customers with Basic Savings Bank Deposit (BSBD) accounts opened through the branch channel. The revised charges will come into effect from October 1, 2026.
Under the new structure, four cash withdrawals every month will remain free. However, customers making more than four cash withdrawals in the same month will have to pay Rs 15 plus GST for each additional transaction.
What changes from October 1?
The charge will apply from the fifth cash withdrawal onwards. The first four transactions in a month will not attract any fee.
“State Bank of India has revised the cash withdrawal charges, effective October 1, 2026, for basic savings bank deposit (BSBD) accounts opened through branch channel. Four cash withdrawals in a month will continue to be free and cash withdrawal transactions beyond four in a month will attract a charge of Rs 15 + GST per transaction. Customers are requested to take note that all digital transactions will continue to be free without any restriction," according to the SBI public notice.
With 18% GST, the Rs 15 charge works out to Rs 17.70 per additional cash withdrawal.
For instance, a customer making five cash withdrawals in October will pay no charge on the first four, while the fifth transaction will attract Rs 15 plus GST. If the customer makes six withdrawals, the fee will apply to both the fifth and sixth transactions.
Digital transactions remain free
SBI has clarified that the revised charges apply to cash withdrawals and will not affect digital transactions.
According to the bank, digital transactions will continue to be free without any restriction. Customers who primarily use UPI, internet banking and other digital payment options will therefore not face the new charge for making additional digital transactions.
What is a BSBD account?
A Basic Savings Bank Deposit account is a basic banking account that does not require customers to maintain a minimum balance. It is intended to provide essential savings and payment facilities under the applicable account rules.
The revised withdrawal charge applies specifically to BSBD accounts opened through the branch channel.
Customers who regularly use cash may need to keep track of their monthly withdrawal count once the new rule takes effect on October 1. The first four cash withdrawals will continue to remain free.