SBI Account Holders Alerted Over New Transaction Charges

State Bank of India (SBI) is set to introduce new charges for transactions linked to Basic Savings Bank Deposit (BSBD) accounts from October 1. Under the revised rules, account holders will be allowed only four free transactions in a month. Transactions beyond the prescribed limit will attract additional charges.

After the four free transactions, customers will reportedly have to pay a charge of ₹15 plus GST for every additional transaction. The charges are expected to apply to transactions made through bank branches and ATMs, as well as digital transactions. SBI BSBD account holders will therefore need to keep track of their monthly transactions from October 1.