NEW DELHI, AUG 21 (AGENCIES): State Bank of India (SBI) customers who rely on cash withdrawals may have to pay more from October 1, as the bank has revised charges for certain basic savings accounts.
The new charges will apply to Basic Savings Bank Deposit (BSBD) accounts opened through the branch channel. Under the revised structure, customers will continue to get four cash withdrawals free every month. However, every cash withdrawal beyond the four free transactions will attract a charge of Rs 15 plus GST. The revised charges will come into effect from October 1, 2026.
SBI has clarified that customers with eligible BSBD accounts will still be able to make four cash withdrawals in a month without paying any charge.
It is only when the number of cash withdrawals crosses four in the same month that the new fee will kick in.
For example, if a customer makes five cash withdrawals in a month, the fifth withdrawal would attract a charge of Rs 15 plus GST. If the customer makes six withdrawals, the charge would apply to the sixth transaction as well.
This means customers who regularly withdraw cash multiple times a month will need to keep track of their withdrawal count to avoid additional charges.
There is, however, no restriction or charge on digital transactions under the revised notice.
SBI said all digital transactions will continue to be free without any restriction.
This means customers can continue using digital modes for transactions without the four-transaction limit applicable to cash withdrawals.
The change, therefore, specifically affects cash withdrawals from eligible BSBD accounts opened through the branch channel.
The revised charge does not mean that every SBI savings account holder will now have to pay Rs 15 for withdrawing cash. The public notice specifically refers to Basic Savings Bank Deposit accounts opened through the branch channel.
For customers who make only a few cash withdrawals each month, the impact is unlikely to be significant as four withdrawals will remain free.
However, those who frequently depend on cash may see their monthly banking costs rise if they cross the four-withdrawal limit.
With the new charges coming into effect from October 1, customers with these accounts may want to keep track of their cash withdrawals and use digital transactions where convenient to avoid additional charges.
SBI reported a 10.23 per cent year-on-year increase in net profit for the first quarter of FY27, with the bank attributing the performance to strong growth in interest income, robust loan expansion and a sharp decline in bad loan provisions.
Net profit stood at Rs 21,121 crore in the April-June quarter, compared with Rs 19,160 crore in Q1FY26.
Operating profit rose 9.8 per cent to Rs 33,529 crore, while net interest income increased 14.9 per cent to Rs 46,992 crore.
SBI shares traded flat on Thursday at Rs 1,048.05 on the BSE, up 0.2 per cent. The stock has touched a 52-week high of Rs 1,234.80 and a 52-week low of Rs 798.60, according to exchange data.
Saturday, August 22, 2026