SBI Basic Savings Bank Deposit Account: Cash withdrawal charges to change from October 1

State Bank of India (SBI) customers with a Basic Savings Bank Deposit (BSBD) account will have to keep track of their monthly cash withdrawals from October 1, 2026.

Under the revised charges, the first four cash withdrawals in a month will remain free. If a customer makes more than four cash withdrawals in the same month, a charge of ₹15 plus GST per transaction will apply from the fifth withdrawal onwards.

The new charges will be effective from 1st October 2026.

The BSBD account, is a basic savings account designed mainly for people from the poorer sections of society. The account is intended to encourage saving without putting the customer under the burden of regular charges or fees.

Four cash withdrawals free every month

Customers can make four cash withdrawals in a month without paying a withdrawal charge.

The four free withdrawals include cash withdrawals made through SBI ATMs, other bank ATMs, branches and AEPS cash transactions.

From the fifth cash withdrawal onwards, the applicable charge will be:

₹15 + GST per transaction

No minimum balance requirement

The BSBD account can be opened by any individual who has valid KYC documents. The account is available at all SBI branches.

There is no minimum balance requirement, while there is also no upper limit on the balance that can be maintained in the account.

The account does not come with a cheque book facility. Customers can withdraw money either through the withdrawal form at a branch or through an ATM.

A basic RuPay ATM-cum-debit card is also issued to the account holder.

Who can open a BSBD account?

Any individual with valid KYC documents is eligible to open a BSBD Account.

The account can be opened singly or jointly. Customers can also choose operating instructions such as Either or Survivor, Former or Survivor, Anyone or Survivor, among others.

The account will be KYC compliant.

One important condition for customers

A customer having a BSBD account cannot have another savings bank account. If the customer already has a savings bank account, it has to be closed within 30 days of opening the BSBD account.

This is an important condition that customers should keep in mind before opening the account.

RuPay card and other services

The basic RuPay ATM-cum-debit Card will be issued free of cost, and there will be no annual maintenance charge on the card.

Other services listed under the BSBD account include free receipt or credit of money through electronic payment channels such as NEFT and RTGS.

There is no charge for activation of an inoperative account, and no account closure charge is applicable.