SBI will introduce revised cash withdrawal rules for Basic Savings Bank Deposit accounts. The changes will take effect from October 1, 2026. Under the new system, customers will get four free cash withdrawals each month. However, additional withdrawals may attract a ₹15 charge. Customers must also pay applicable GST on that charge. Meanwhile, SBI will remove the provision excluding digital transactions from the four-withdrawal calculation. Therefore, frequent cash users should track their monthly withdrawals carefully.
What exactly is a BSBD account?
BSBD means Basic Savings Bank Deposit account. This account targets people seeking savings facilities without many charges. Customers do not need to maintain a minimum balance in this account. Additionally, SBI provides a basic RuPay ATM-cum-debit card. The card does not carry an annual maintenance charge. Customers can withdraw money through branches or ATMs. However, the account does not provide cheque book facilities. Furthermore, customers can deposit money through electronic modes like NEFT and RTGS without fees. SBI also charges no fee for reactivating an inactive account.
Who can open an SBI BSBD account?
Customers must follow one important condition before opening this account. The applicant cannot hold another savings account in their name. Therefore, existing savings account holders must close that account within 30 days. This requirement applies after opening the BSBD account.
What should SBI customers remember?
Customers who frequently withdraw cash should prepare for the October change. The first four monthly cash withdrawals will remain free. After that limit, every additional withdrawal may cost ₹15 plus GST. Therefore, customers can reduce extra charges by monitoring their withdrawal frequency. The revised rule will apply from October 1, 2026.
