SBI Updates Cash Withdrawal Charges for BSBD Accounts Effective October 1

The State Bank of India (SBI) has announced changes to its cash withdrawal charges for Basic Savings Bank Deposit (BSBD) accounts, effective from October 1. Customers will continue to enjoy four free withdrawals monthly, with fees applied to additional transactions. Notably, all digital transactions remain free. The bank also updated its policy on Aadhaar Enabled Payment System (AePS) transactions, now counting them towards the free withdrawal limit. SBI reported a 10.23% increase in net profit for Q1FY27, driven by strong interest income and reduced bad loan provisions. Discover more about these updates and their implications for customers.

By Narendra Chaudhary Aug 20, 2026, 15:29 IST

Changes to SBI's Cash Withdrawal Policy

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New Delhi, Aug 20: The State Bank of India (SBI) has announced modifications to the cash withdrawal fees for Basic Savings Bank Deposit (BSBD) accounts that are opened through branch channels. These changes will take effect starting October 1, as stated in a public notice released by the bank on Thursday.

According to a post on the social media platform X, the bank confirmed that customers will still be entitled to four complimentary cash withdrawals each month. Any transactions exceeding this limit will incur a fee of Rs 15 plus applicable GST for each transaction.

Importantly, all digital transactions will remain free of charge without any limitations, as per the bank's announcement.

Additionally, SBI has revised its policy regarding Aadhaar Enabled Payment System (AePS) transactions. Previously, AePS transactions were not counted among the four free monthly withdrawals. This exclusion has now been lifted under the new rules.

In its financial results for the first quarter of FY27, SBI reported a year-on-year (YoY) net profit increase of 10.23%, attributed to significant growth in interest income, strong loan expansion, and a notable reduction in bad loan provisions.

The bank's net profit for the April-June quarter reached Rs 21,121 crore, compared to Rs 19,160 crore during the same period last year (Q1FY26), as detailed in its stock exchange filing.

According to the regulatory filing from the public sector bank, operating profit rose by 9.8% to Rs 33,529 crore, while net interest income (NII) saw a 14.9% increase, totaling Rs 46,992 crore.

On Thursday, SBI shares traded slightly higher at Rs 1048.05, marking a 0.2% increase on the BSE. The stock has reached a 52-week peak of Rs 1,234.80 and a low of Rs 798.60, according to exchange data.