Rs 15+GST: SBI Tweaks 4-Free Transaction Limit For Basic Savings Accounts, With A Digital Catch

State Bank of India (SBI) has revised its service charges for customers holding Basic Savings Bank Deposit (BSBD) accounts. The new rules, which will take effect from Oct. 1, 2026, change how the bank counts transactions towards the four free withdrawals allowed each month.

Economic Times reported that under the revised rules, BSBD account holders will continue to get four free cash withdrawals every month. Any cash withdrawal beyond these four will attract a charge of Rs 15 plus GST per transaction, according to SBI's updated service charges.

The key change is the treatment of digital transactions. Earlier, digital transactions were excluded while calculating the four free transactions. Under the revised rules, that exclusion has been removed.

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This means digital transactions will now also be considered while determining whether the monthly limit of four free transactions has been exhausted. The four free withdrawals cover cash withdrawals through SBI and other bank ATMs, branch channels and AEPS cash transactions.

BSBD accounts are designed primarily to encourage savings among people who may not be able to maintain a regular savings account with minimum-balance requirements. SBI does not require customers to maintain a minimum balance in these accounts.

The account does not offer a cheque book facility. Withdrawals can be made through the prescribed withdrawal form at branches or through ATMs, while account holders are issued a basic RuPay ATM-cum-debit card.

There are also eligibility conditions for opening an SBI BSBD account. A customer holding such an account cannot have another savings bank account with SBI. If an existing savings account holder opens a BSBD account, the other savings account has to be closed within 30 days.

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Several services remain free for BSBD account holders. These include issuance and annual maintenance of the basic RuPay ATM-cum-debit card, as well as electronic credits through channels such as NEFT and RTGS.

Deposits or collection of cheques issued by the central or state governments are also free. SBI does not levy charges for activating an inoperative account, although account closure charges apply.

The revised rule therefore retains the four free withdrawals but changes how the limit is calculated, with digital transactions now included from Oct. 1.

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