MUMBAI : State Bank of India will put a ₹15 plus GST charge on cash withdrawals beyond four a month for Basic Savings Bank Deposit (BSBD) accounts from October 1.
The first four cash withdrawals will remain free. After that, each additional cash withdrawal will cost ₹15 plus GST.
The important part of the new rule is that SBI will count withdrawals across different channels together. Cash taken out from SBI or other-bank ATMs, branches and through Aadhaar Enabled Payment System (AePS) will all fall under the same four-withdrawal limit.
So a customer who withdraws cash twice from an ATM and twice through AePS will have used all four free transactions. The next cash withdrawal will attract the charge.
Therefore, at 18% GST, ₹15 becomes ₹17.70.
AePS is one of the changes customers need to watch. The system allows banking transactions using Aadhaar authentication through participating outlets. From October 1, an AePS cash withdrawal will count alongside ATM and branch withdrawals instead of being outside the four-transaction calculation.
The new charge is not for every SBI savings account. It applies to the BSBD account, SBI’s basic savings product with no minimum-balance requirement.
The account is aimed at providing basic banking access. For customers who usually withdraw cash four times or fewer in a month, there will be no additional charge under the new rule.
Someone making six cash withdrawals in a month would pay the charge on two transactions. Ten withdrawals would leave six transactions chargeable.
Digital transactions are not being treated as cash withdrawals under this change. SBI’s BSBD information continues to provide free electronic payment facilities, including NEFT and RTGS.
The revised service charges take effect October 1, 2026, according to SBI’s updated service-charge notice.
