2 weeks ago
SBI Revises BSBD Withdrawal Charges Amid Digital Transaction Confusion
SBI is changing some rules for Basic Savings Bank Deposit accounts.
Starting October 1, 2026, customers will get four free cash withdrawals each month under the revised schedule.
A fifth withdrawal and later withdrawals may cost ₹15 plus GST each.
The change specifically concerns accounts opened through the branch channel.
The reports disagree about digital transactions.
One says ATM and app-based withdrawals will count toward the four free transactions.
SBI’s reported statement says digital transactions will remain free without limits.
SBI also changed how Aadhaar-enabled transactions are counted, so customers should check the latest rules before withdrawing money.
From October 1, 2026, SBI will provide four free monthly cash withdrawals for eligible BSBD accounts.
Each cash withdrawal beyond the fourth will cost ₹15 plus applicable GST, according to SBI’s revised schedule.
The change applies to BSBD accounts opened through the branch channel under Product Code 1011-1701.
One report says digital withdrawals will count toward the four-transaction limit, while SBI’s stated position says digital transactions remain free without restriction.
SBI also changed the treatment of AePS transactions by removing their previous exclusion from the monthly transaction calculation.
- Who
- State Bank of India and customers holding eligible Basic Savings Bank Deposit accounts.
- What
- SBI is revising cash-withdrawal charges, with ₹15 plus applicable GST charged for withdrawals beyond the four-free-transaction limit under the revised schedule.
- Where
- The stated change applies to the branch channel for BSBD accounts; reports differ on how digital channels are treated.
- When
- The changes take effect on October 1, 2026.
- Why
- SBI is revising its service-charge schedule for Basic Savings Bank Deposit accounts.
Digital transactions count toward the limit
Digital transactions remain unrestricted
Treatment of digital withdrawals
Digital transactions count toward the limit
One report says SBI will combine ATM and digital withdrawals into the four-transaction monthly bucket, meaning the fifth transaction could attract the fee regardless of channel.
Digital transactions remain unrestricted
SBI’s reported statement says all digital transactions will remain free without restriction, while the charge applies to cash withdrawals beyond the free limit.
AePS transactions
Digital transactions count toward the limit
The reported rule change removes the earlier exclusion of AePS transactions from the calculation of the four free monthly transactions.
Digital transactions remain unrestricted
The bank’s statement that digital transactions remain unrestricted creates uncertainty about how the revised AePS treatment interacts with the overall limit.
Key facts
- Effective date
- October 1, 2026
- Account type
- Basic Savings Bank Deposit Account
- Product code
- 1011-1701
- Free withdrawals
- Four cash withdrawals per month under the revised schedule
- Additional charge
- ₹15 plus applicable GST per transaction beyond the free limit
- Reported digital-treatment discrepancy
- One report says digital withdrawals count toward the four-transaction limit; SBI’s reported statement says digital transactions remain free without restriction
- AePS change
- The previous exclusion of Aadhaar Enabled Payment System transactions from the monthly calculation was removed
Quotes
CA Kalpana Singh
SBI spokesperson
“For someone stretching a tight monthly budget, an extra Rs 15 plus GST, multiplied over a few transactions, adds up quicker than it sounds.”
NDTV
Sources
SBI Revises Basic Savings Account Rules From October 1, Branch Withdrawals Beyond Four To Cost ₹15 Plus GST
SBI Cash Withdrawals To Get Costlier After 4 Free Uses. All You Need To Know
SBI Revises BSBD Cash Withdrawal Charges, ₹15 Per Transaction To Apply From October 1
SBI revises BSBD cash withdrawal charges; Rs 15 per transaction applicable from Oct 1
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