SBI to levy ₹15 plus GST on ATM withdrawals beyond four a month from October 1
State Bank of India’s new charge on basic savings-account ATM withdrawals could raise cash-access costs for low-income, rural and informal-sector customers, despite the bank’s large Jan-Dhan base and strong profitability.
What happened
State Bank of India · SBI will charge basic savings account holders ₹15 plus GST for ATM cash withdrawals beyond four monthly transactions from October 1. The
Key facts
- ₹15 per withdrawal plus GST beyond four ATM withdrawals per month
- 31 crore-plus informal worker registrations
- 58 crore Jan-Dhan accounts by February 2026
- ₹2.94 lakh crore Jan-Dhan deposits
- 78% of Jan-Dhan accounts in rural and semi-urban areas
- 32 crore daily SBI transactions in these accounts
- ₹20,000 crore quarterly profit
- ₹286 crore FY26 ATM-charge income
- ₹232 crore FY26 minimum-balance penalty income
- ₹22.6 lakh crore FY26 CASA deposits
- 45% of loan advances
Why this matters
Payments and fintech partners can position low-cost cash access, agent-banking networks and interoperable digital-payment tools as alternatives for customers seeking to avoid repeated ATM fees.