SBI Customers Take Note! New Charges From October 1 Could Make Cash Withdrawals Costlier

SBI customers may see changes in banking charges from October 1. Here’s what the new withdrawal-related rules could mean for account holders and when additional charges may apply.

Important update

This is a very important update for all bank customers. The middle class might feel the pinch as new bank rules are coming from October 1. You will now have to pay a charge to withdraw your own cash. The bank has amended its cash withdrawal rules, which will be effective from October 1, 2026.

New rules

According to the new rules, you get four free withdrawals in a month. After that, for any withdrawal you make, the bank will charge you an extra ₹15 plus GST.

SBI has now changed rule

Earlier, digital transactions like online payments were not counted in these four free withdrawals. But SBI has now changed this rule. Once you finish your four free withdrawals, the bank will apply charges for taking out money from both digital channels and bank branches.

Who does it apply?

But don't worry, this charge won't apply to Basic Savings Accounts. The bank created these accounts for poor and low-income individuals. SBI does not charge any fee to open this account, and you don't need to maintain a minimum balance. You get a free RuPay ATM-cum-debit card, but no cheque book.

What you need to know?

The most important condition for opening a Basic Savings Account with SBI is that you cannot have any other savings account with the bank. So, if you have a basic account, you are safe from these charges. However, the charges will apply to regular savings accounts. For more details, always check the official notification from the bank.