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State Bank of India (SBI) will raise the charge for certain cash withdrawals from October 1, 2026, with customers holding Basic Savings Bank Deposit (BSBD) accounts paying more once they cross four free withdrawals in a month. The first four withdrawals will remain free, but every withdrawal after that will cost Rs 15 plus GST, up from the earlier Rs 8 charge. The change applies to cash withdrawals through the branch channel of BSBD accounts.

SBI rules leave digital transactions untouched

For customers wondering what else will change, SBI has clarified that the new charge is limited to cash withdrawals. Non-financial transactions and fund transfers will not be affected. The lender also said, “Customers are requested to take note that all digital transactions will continue to be free without any restrictions.”

BSBD accounts are meant for people who do not want to maintain a minimum balance. They are often used by first-time bank customers, low-income households and people who depend on basic banking services. For such customers, the four free withdrawals may be used quickly on routine expenses such as rent, groceries and other daily needs.

SBI charge could add up for frequent cash users

SBI has described the change as a revision of service charges rather than a major overhaul. As per NDTV, CA Kalpana Singh said, “For someone stretching a tight monthly budget, an extra Rs 15 plus GST, multiplied over a few transactions, adds up quicker than it sounds. Therefore, BSBD account holders should track their transactions to avoid charges.”

The new SBI fee therefore matters mainly to BSBD account holders who frequently withdraw cash at branches. Customers who stay within four withdrawals each month will continue to get them free, while those making additional withdrawals will face the higher Rs 15 plus GST charge from October 1.

The post SBI To Raise Cash Withdrawal Charges From October 1: Know New Fees And Changes For BSBD Accounts appeared first on NewsX.