SBI to charge Rs 15 for cash withdrawals beyond four from October 1

New Delhi: State Bank of India (SBI) has announced changes to cash withdrawal charges for Basic Savings Bank Deposit (BSBD) accounts opened through its branches, with the revised charges set to take effect from October 1.

Under the new structure, customers will continue to receive four free cash withdrawals every month. Any cash withdrawal beyond the monthly free limit will attract a charge of Rs 15 per transaction, along with applicable GST, the bank said in a public notice.

SBI said digital transactions will continue to remain free, with no limit on the number of such transactions.

The bank has also changed the way Aadhaar Enabled Payment System (AePS) transactions are counted. Previously, AePS transactions were excluded from the calculation of the four free monthly transactions as they were treated as digital transactions. Under the revised rules, this exclusion will no longer apply.

The changes come as SBI continues to strengthen its digital banking operations while revising service charges applicable to certain account transactions.

In its first-quarter results for FY27, SBI reported a 10.23 per cent year-on-year rise in net profit, supported by higher interest income, growth in loans and a reduction in provisions for bad loans.

The bank recorded a net profit of Rs 21,121 crore in the April-June quarter, compared with Rs 19,160 crore in the same period a year earlier.

SBI’s operating profit increased 9.8 per cent to Rs 33,529 crore, while net interest income rose 14.9 per cent to Rs 46,992 crore, according to the bank’s regulatory filing.

Shares of SBI were trading largely flat on Thursday, with the stock at Rs 1,048.05 on the BSE, up 0.2 per cent. The stock has recorded a 52-week high of Rs 1,234.80 and a low of Rs 798.60.