Big blow for SBI users: From October 1, they will be able to make only 4 free UPI transactions per month..

State Bank of India (SBI) has dealt a major blow to its millions of customers. SBI users will now be limited to just four free UPI transactions per month; a hefty charge will apply from the fifth transaction onwards. This new rule will come into effect on October 1, 2026, and applies to Basic Savings Bank Deposit (BSBD) account holders, according to media reports.

The report states that digital transactions will now be included when calculating the monthly limit of four free transactions. In other words, the total of four free monthly transactions will encompass both digital transactions (including UPI) and cash transactions.

**What is the charge for the 5th transaction?**
Previously, the limit of four free transactions for SBI BSBD accounts primarily applied to cash withdrawals, while digital transactions like UPI, NEFT, and RTGS were excluded from this calculation. However, starting October 1, digital transactions will also be counted towards this limit.

Under SBI's new service charge rules, BSBD account holders will continue to receive four free cash withdrawals per month. This includes cash withdrawals made via SBI and other bank ATMs, bank branches, and AEPS. Any cash transaction beyond the initial four will incur a charge of ₹15 plus GST.

**Who is the BSBD account for?**
The BSBD account is designed for customers who find it difficult to maintain the minimum balance required for regular savings accounts. There is no minimum balance requirement for this account. However, it does not offer chequebook facilities, and a basic RuPay ATM-cum-debit card is issued instead.

Certain services will remain free, including the issuance and annual maintenance of the basic RuPay card, electronic credits via NEFT and RTGS, and the deposit of government-issued cheques.

In essence, the new rule does not reduce the total number of free transactions but changes the method of counting them—a shift that could impact the pockets of SBI customers.

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