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India's largest bank, the State Bank of India (SBI), has announced changes to service charges for customers holding Basic Savings Deposit Accounts (BSBD). According to the bank's official website, these new charges will come into effect on October 1, 2026. Customers with an SBI BSBD account who use the bank's cash withdrawal facility will be able to withdraw cash for free four times a month starting from the effective date. However, cash withdrawals exceeding the initial four free monthly transactions will incur a charge of ₹15 plus GST per transaction.

**No charges applicable on these**
In a statement, SBI clarified that cash withdrawal transactions encompass withdrawals made via all channels, including branches, ATMs, micro-ATMs, AEPS, and Cash@POS. Digital transfer transactions initiated by customers via UPI, IMPS, NEFT, RTGS, POS, etc., will remain free of charge. Furthermore, the bank has not altered service charges for several BSBD account features; for instance, the basic RuPay ATM-cum-debit card will be provided at no cost and will not attract any annual maintenance fees. There will also be no charges for depositing or collecting cheques issued by the central or state government, activating an inactive account, or closing the account.

**Who can open a BSBD account and how?**
According to SBI, any individual who does not currently hold a BSBD account and possesses the necessary KYC documents can open such an account, either singly or jointly. Before opening a new BSBD account or converting an existing savings bank account into a BSBD account, the customer must declare to the bank that they do not already hold a BSBD account with any other bank.

As per the SBI website, key features of the SBI BSBD account include availability at all SBI branches, no requirement to maintain a Minimum Average Balance (MAB) or minimum balance, and no upper limit on the account balance. Eligible account holders also receive a free 25-leaf chequebook annually.

Additionally, customers can use digital banking services such as YONO and internet banking, and eligible customers are provided with a basic RuPay debit card. There is also no limit on monthly deposits.

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