SBI Introduces New Cash Withdrawal Rules for BSBD Accounts The State Bank of India (SBI) has updated its cash withdrawal policies for customers holding Basic Savings Bank Deposit (BSBD) accounts. Under the new rules, account holders can withdraw cash up to four times monthly without any charges. However, any additional withdrawals beyond this limit will incur a fee of ₹15 plus Goods and Services Tax (GST). The changes, effective from October 1, aim to streamline transaction processes while maintaining cost controls for customers. BSBD accounts offer several free benefits to users. For instance, customers can perform digital banking transactions without additional charges. This includes electronic fund transfers via platforms like NEFT and RTGS, which remain free of cost. Additionally, the account holders are exempt from minimum balance requirements, reducing financial pressure on small savers. A free RuPay ATM/debit card is also provided, with no annual maintenance charges. The updated policy emphasizes transparency in transaction limits. Previously, withdrawals made through AePS ( Aadhaar Enabled Payment System) were not counted toward the four free transactions. However, the new rules now include all withdrawal methods, such as cash withdrawals from SBI or other bank ATMs, branch visits, and AePS transactions, under the four free limits. This ensures customers are aware of their transaction boundaries and potential charges. Customers with existing SBI savings accounts must close them within 30 days of opening a BSBD account. This restriction prevents dual account holdings and ensures compliance with the bank’s guidelines. The policy also clarifies that BSBD account holders cannot maintain another SBI savings account simultaneously.#state_bank_of_india #basic_savings_bank_deposit #neft #rtgs #aeps
