SBI customers will pay extra charges on additional cash withdrawals. Digital transactions will not be included when calculating the monthly limit of 4 free withdrawals.
Big blow for SBI customers, extra charges on cash withdrawls: If you are a State Bank of India (SBI) customer, then this news is for you. The bank has announced a key change in the cash withdrawal rules for Basic Savings Bank Deposit (BSBD) account holders, effective from October 1, 2026.
According to the new rules, the first four cash withdrawals from the BSBD account every month will be free. After that, a charge of Rs 15 may be applied for every additional withdrawal. Along with this, applicable GST will also have to be paid on the charge of Rs.15. Digital transactions will not be included while calculating the monthly limit of 4 free withdrawals.
Basic Savings Bank Deposit Account is specially designed for those who want to start a savings account without much charges. There is no requirement to maintain a minimum balance in this account.
What are the features of SBI BSBD account?
1. The account holder is issued a basic RuPay ATM-cum-debit card.
2. There is no annual maintenance charge on this card.
3. You can withdraw money from this account through branches or ATMs.
4. Checkbook facility is not available in this account.
5. No fees are charged for depositing money through electronic means like NEFT and RTGS.
6. There is no fee to reactivate an inactive account.
What are the rules for opening a BSBD account?
If you want to open a BSBD account in SBI, there is a condition that you should not have any other savings account in your name. If you already have a savings account, then you have to close your old savings account within 30 days of opening the BSBD account.
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