If you have an account with State Bank of India (SBI) and you visit the bank branch several times a month to withdraw cash, then now you will have to pay additional charges on cash withdrawals. SBI has changed the fees/charges for cash withdrawals from its Basic Savings Bank Deposit (BSBD) account through branches. The new rules will be effective from October 1, 2026. Under this, customers can withdraw cash from the branch free of cost up to four times a month. No additional charges will be charged for this. However, if cash is withdrawn more than four times a month, then charges will have to be paid on each subsequent withdrawal. This change will especially affect those customers who frequently visit the branch to withdraw money from their BSBD account. According to the new rules, a charge of Rs 15 will be levied on each additional cash withdrawal after the four free cash withdrawals. The applicable GST will also have to be paid on this. That is, if a customer withdraws cash from the branch five or six times in a month, the first four withdrawals will be free, while separate charges will be levied on the fifth and sixth withdrawals.
Cash withdrawal rules to change from October 1
According to the new charge rules of SBI, no charge will be levied until four cash withdrawals are made in a month through the branch channel of the BSBD account. After completing four withdrawals, a charge of Rs 15 will be levied on each withdrawal. The applicable GST can also be added to this charge.
For example, if a customer withdraws money from the branch six times in a month, the first four withdrawals will be free. A charge of Rs 15 each will be levied on the fifth and sixth withdrawals. That is, a total charge of Rs 30 will have to be paid for these two additional withdrawals, on which the applicable
GST will have to be paid separately.
It is worth noting that Basic Savings Bank Deposit Account i.e. BSBD is a bank account that has been created to provide basic and essential banking services. It provides basic facilities like a savings account to the customer and generally does not require a minimum balance.
Which customers will be most affected?
The new rules will be most affected for those customers who withdraw cash from their BSBD account by visiting the branch more than four times a month. If a customer withdraws cash only once, twice, three or four times a month, then he will not have to pay any additional charges due to this change.
So if you often go to the bank branch to withdraw small amounts, then it is important to pay attention to the process/method of your withdrawal. By withdrawing money at once as per the requirement, you can avoid additional transactions and associated charges.
However, the facilities and rules related to transactions of BSBD account may be different from those of a regular savings account. Therefore, customers should definitely check the information about the rules and charges applicable to their account.
According to the report, this change in SBI will be applicable on Basic Savings Deposit Account (Branch Channel). Its product code is said to be 1011-1701. So, customers who have an account in this category should keep in mind the charges that will be applicable from October
