There's important news for State Bank of India customers. If you withdraw money from an ATM multiple times a month, you may now incur a charge. The bank has made a significant change to its cash withdrawal rules for Basic Savings Bank Deposit account holders. These new rules will take effect on October 1, 2026. Under this new rule, customers may incur charges if they withdraw cash more than a certain number of times per month. Let's learn the details.

What will change from October 1st?
SBI's new rule will come into effect on October 1st, 2026. After this, there will be no charge for withdrawing cash from a BSBD account up to four times a month. However, if cash is withdrawn more than four times a month, a charge of ₹15 may apply for each additional transaction. In addition, GST will also be applicable on this ₹15 charge. Therefore, customers will have to pay extra for withdrawals.

What is a BSBD account?
BSBD stands for Basic Savings Bank Deposit Account. This account is specifically designed for customers who want to open a savings account with little or no additional charges. There is no minimum balance requirement for this account.

What are the features of a BSBD account?
Account holders are issued a basic RuPay ATM-cum-debit card.
There is no annual maintenance fee for this card.
Withdrawals from this account can be made through branches or ATMs.
Checkbooks are not available for this account.
There are no charges for electronic deposits such as NEFT and RTGS.
There are no charges for reactivating a dormant account.

What are the rules for opening a BSBD account?
If you want to open a BSBD account with SBI, there is one important requirement: You must not have any other savings account in your name with SBI. If you already have a savings account with SBI, you must close the old one within 30 days of opening the BSBD account.