Starting October 1st, State Bank of India customers will experience changes to ATM and cash transaction rules. This change has dealt a significant blow to its customers. The bank has made significant changes to the ATM cash withdrawal rules. According to the new rules, withdrawing more than the set free limit will impact customers' pockets.

Readers, please note that this rule will not apply to all bank account holders. This change primarily applies to customers with Basic Savings Bank Deposit accounts opened through bank branches. Even after October 1, 2026, BSBD account holders will continue to enjoy free monthly withdrawals within a certain limit.

A total of four withdrawals per month (from an ATM or bank branch) will be completely free. Beyond this limit, a ₹15 charge will apply for each additional cash transaction. In addition to this ₹15 charge, customers will also be required to pay the applicable GST.

Will digital transactions be charged?
The good news for SBI customers is that these changed rules will not affect digital transactions. Customers can still make as many free transactions as they want through UPI, net banking, or digital payments. There will be no limit or additional charges.

The bank has also made a significant change to the rules for transactions conducted through AePS, the Aadhaar Enabled Payment System. Previously, cash transactions conducted through AePS were considered digital transactions and were not included in the four-free transaction limit. However, the bank has now withdrawn this exemption.

In August, SBI revised interest rates on bulk fixed deposits of Rs 3 crore or more, effective August 15. Furthermore, the bank's net profit rose 10.23% to Rs 21,121 crore in the first quarter (April to June) of the current financial year 2026-27.

PC: India tv