GST Will Be Charged for ATM Withdrawals Exceeding Four Times - SBI Announcement

The State Bank of India (SBI) has announced revised charges for Basic Savings Bank Deposit (BSBD) account holders, which will come into effect from October 1, 2026.

BSBD account holders can continue to make four free cash withdrawals per month. However, for every ATM cash withdrawal made beyond the free limit of four transactions, a charge of ₹15 plus applicable GST will be levied.

SBI has clarified that digital transactions will remain free and unrestricted. Customers can continue to use services such as UPI, Google Pay, PhonePe and net banking without additional charges.

SBI has encouraged customers to make greater use of digital payment methods for their day-to-day transactions.