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  • Banking rules change from 1 February: 5 key updates you should be aware of

Banking rules change from 1 February: 5 key updates you should be aware of

Starting February 1, significant changes are expected in savings account interest rates, ATM charges, minimum balance requirements, and digital banking regulations. Customers should be aware of these upcoming changes.

Ajay Joseph | Published : Feb 01 2025, 03:11 PM
1 Min read
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February 1 is a significant day for the country as the Union Budget 2025 will be presented. Along with that, 5 banking rules are about to change. If you are a bank customer, you must know these things.

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From February 1, interest rates on savings accounts may increase. The current interest rate of 3% could increase to 3.5%.

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ATM withdrawal charges may increase. After three free withdrawals, each transaction could incur a fee of Rs 25. This charge, previously Rs 20, may increase to Rs 25, potentially impacting the middle class.

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The minimum balance requirement may also change from February 1. SBI's minimum balance, currently Rs 3000, could increase to Rs 5000.

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PNB's minimum balance, currently Rs 1000, could increase to Rs 3500. Specific changes are also expected in digital banking.

Ajay Joseph
About the Author
Ajay Joseph
With over eight years of journalistic experience, Ajay Joseph Raj. P has been a dedicated member of the Asianet Newsable team, where he serves as the Chief Copy Editor. His expertise spans Business, Career, Stock Market, National, International, and viral/trending topics, with a knack for crafting compelling narratives that connect with diverse audiences. Before joining Asianet Newsable, Ajay honed his skills at OneIndia News and Opoyi English, gaining extensive experience in delivering impactful stories across various beats. Read More...
 
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