Here is important news for State Bank of India (SBI) account holders. If you have an account with the State Bank, you should be aware of this update, as it will impact your finances starting October 1st. SBI has made significant changes to its transaction charge policies—specifically regarding ATM withdrawals and cash withdrawals at bank branches. These new changes apply to Basic Savings Bank Deposit (BSBD) accounts and will come into effect on October 1st.

**Charge of ₹15 plus GST**
SBI has revised the rules governing transactions for BSBD accounts. While the first four transactions or withdrawals in a month remain free, an additional charge of ₹15 will apply starting from the fifth transaction. This charge will be levied on every subsequent transaction. In addition to the ₹15 fee, customers will also have to pay GST.

**The 4-transaction limit includes ATM cash withdrawals and UPI**
Previously, digital transactions were not counted towards the limit of four free withdrawals for BSBD accounts; however, SBI has removed this exemption. Under the new rules, digital transactions will also be included in the count of four free withdrawals. Any transaction or withdrawal beyond this limit will incur an additional charge of ₹15 plus GST.

**Understanding the BSBD Account**
A Basic Savings Bank Deposit (BSBD) account differs from a regular savings account. It is designed for individuals from economically weaker sections or those with low incomes. These accounts do not require a minimum balance, allowing customers to save without incurring charges or fees. Chequebooks are not issued with this account, though a basic ATM card is provided free of charge. There are no fees for depositing cheques issued by central or state governments, nor are there charges for reactivating a closed account.

An individual cannot hold more than one BSBD account. If accounts have been opened with two different banks, one of them must be closed within 30 days.

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