There will be a charge for withdrawing cash more than 4 times in SBI: ₹ 15 + GST ​​will have to be paid from the 5th time onwards; New rules will be applicable on BSBD accounts from 1st October

State Bank of India (SBI) has changed the rules of service charge for Basic Savings Bank Deposit (BSBD) account holders. The new rules will be implemented from October 1, 2026.

After the implementation of the new rules, Basic Savings Bank deposit account holders will get a total of 4 free cash withdrawal facilities every month. After this limit, the bank will charge ₹15 plus GST on every additional cash withdrawal.

Changed the method of counting free withdrawals

The main basis for the change is how these 4 free withdrawals will be counted. Earlier digital transactions were not included in this monthly limit. Digital transactions will also be counted while calculating the 4 free withdrawals from October 1.

This 4 free withdrawal limit includes cash withdrawal from ATMs of SBI and other banks, bank branch channels and digital transactions like AEPS.

Basic account without minimum balance

SBI’s Basic Savings Bank Deposit Account is specially designed for those who want to maintain a simple bank account without any minimum balance.

This account provides basic banking services. Customers can withdraw money by filling the withdrawal form in the bank branch or through ATM. SBI offers a basic RuPay ATM-cum-debit card with this account, but it does not offer a chequebook facility.

Eligibility and conditions for closing second savings account

Eligibility criteria have been fixed for opening BSBD account in SBI. A customer holding a BSBD account cannot maintain any other savings bank account in SBI.

If an existing savings account holder already has a bank account and opens a BSBD account, he must close his old savings account within 30 days.

What is Basic Savings Bank Deposit Account?

Basic Savings Bank Deposit (BSBD) is an account primarily designed to promote access to banking and financial services for all.

Its objective is to connect people with basic banking services without the burden of any minimum balance and any additional charges. In this, basic RuPay debit card is available without any annual fee.

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