SBI To Charge Rs 15 For BSBD Cash Withdrawals October 1
SBI Revises BSBD Account Withdrawal Charges
- SBI will revise BSBD account withdrawal charges from October 1.
- Four cash withdrawals per month will remain free.
- Each additional withdrawal will cost ₹15 plus applicable GST.
- AePS withdrawals will now count towards the four free transactions.
- ATM, branch, and AePS cash withdrawals will be included.
- Digital transactions will continue to remain free without restrictions.
- Customers who make frequent small withdrawals may be affected.
- Consolidating withdrawals or using digital payments can help avoid charges.
- SBI’s Q1 FY27 net profit rose 10.23 per cent to ₹21,121 crore.
- Net interest income increased 14.9 per cent to ₹46,992 crore.
New Delhi: State Bank of India has revised the cash withdrawal rules for customers holding Basic Savings Bank Deposit accounts opened through the branch channel. The new charges will apply from October 1, 2026, the country’s largest lender said in a public notice issued on Thursday.
Under the revised rules, BSBD account holders will continue to receive four free cash withdrawals each month. However, every cash withdrawal beyond the four-transaction limit will attract a charge of ₹15 plus applicable GST.
The change is likely to affect customers who frequently withdraw small amounts of cash from branches, ATMs, or other assisted banking outlets. BSBD accounts are designed to support financial inclusion and are widely used by customers who may not have regular access to digital banking or who depend on cash for daily expenses.
SBI clarified that digital transactions will remain free without any restriction. Customers can continue using online banking, mobile banking, electronic fund transfers, and other digital payment services without paying the revised withdrawal charge.
AePS transactions now included
The main change concerns Aadhaar Enabled Payment System transactions. Previously, AePS cash withdrawals were excluded while calculating the four free monthly withdrawals. From October 1, they will be included in the total.
This means the four free transactions will cover cash withdrawals through different channels, including SBI and other bank ATMs, SBI branches, and AePS outlets.
For example, if a customer withdraws cash three times from an ATM or bank branch and then makes one withdrawal through AePS, all four transactions will have been used. Any fifth cash withdrawal during the same month will attract the ₹15 charge plus GST.
The change could be important for customers in villages and smaller towns who use Aadhaar-enabled banking outlets because a nearby bank branch or ATM may not be available. AePS allows customers to use biometric authentication and Aadhaar-linked accounts to withdraw money through authorised banking correspondents.
For such customers, the revised counting system may require greater planning. A person who makes frequent small withdrawals may reach the free limit earlier than expected, especially if the customer uses several different channels without keeping track of previous transactions.
What customers should know
The revised charges apply specifically to Basic Savings Bank Deposit accounts operated through the branch channel. Customers should check the exact product category of their SBI account to understand whether the new rule applies to them.
The change does not mean that every account holder will automatically pay a fee. The first four eligible cash withdrawals in a month will remain free. Charges will arise only when the customer crosses the monthly limit.
A customer making six withdrawals, for example, will pay the additional charge on the fifth and sixth transactions. The total fee would be ₹30 plus applicable GST.
SBI customers can avoid these charges by consolidating withdrawals where possible or using digital payment methods for routine expenses. However, this may not be practical for everyone. Small shopkeepers, elderly customers, workers, and people in areas with weak internet connectivity may still depend heavily on cash.
The bank’s decision highlights the continuing shift towards digital payments, while also showing the difficulties faced by customers who rely on traditional banking. Clear communication will be essential so that people are not surprised by charges at the time of withdrawal.
SBI’s financial performance
The announcement came after SBI reported strong financial results for the first quarter of financial year 2026–27. The bank’s net profit increased 10.23 per cent year-on-year to ₹21,121 crore in the April–June quarter, compared with ₹19,160 crore in the corresponding quarter of the previous year.
Operating profit rose 9.8 per cent to ₹33,529 crore, while net interest income increased 14.9 per cent to ₹46,992 crore. The results were supported by higher interest income, loan growth, and a decline in provisions for bad loans.
SBI shares ended Thursday almost flat at ₹1,048.05 on the BSE.