SBI to charge BSBD account holders after 4 free cash withdrawals a month from October 1
SBI's new cash withdrawal charges for Basic Savings Bank Deposit account holders take effect from October 1, 2026.
The State Bank of India has changed cash withdrawal rules for some of its customers, effective October 1, 2026, even as several companies are at odds over charging for UPI transactions.
SBI has clarified that the new rule will not apply to all its account holders. The change applies only to customers whose accounts fall under the Basic Savings Bank Deposit (BSBD) category and were opened through a bank branch. According to the bank, BSBD account holders will continue to get free cash withdrawals up to a fixed monthly limit even after October 1, 2026.
Under this facility, withdrawing money up to four times a month in total, whether from an ATM or a bank branch, will remain completely free. But once this free limit of four transactions is used up, customers will have to pay a charge of Rs 15 for every additional cash transaction. On top of this Rs 15 fee, applicable GST will also be charged separately.
For SBI customers, the relief is that this new rule will not affect digital transactions. This means customers can continue to carry out UPI, net banking or any other digital payment transactions as many times as they want, free of charge, as before. No limit or extra charge will apply to these.
The bank has also made a major change to the rules for transactions carried out through the Aadhaar Enabled Payment System (AePS). Earlier, cash transactions made through AePS were considered digital transactions and were not counted within the four free transactions limit. But the bank has now removed this exemption. This means cash withdrawn through AePS will now also be counted within the four free transactions available every month.
Earlier, in August, SBI had changed interest rates on bulk fixed deposits of Rs 3 crore or more, effective from August 15. Separately, the bank's net profit for the first quarter of the current financial year 2026-27, that is April to June, rose 10.23 percent to Rs 21,121 crore, up from Rs 19,160 crore in the same quarter last year.
