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.
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.
From February 1, interest rates on savings accounts may increase. The current interest rate of 3% could increase to 3.5%.
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.
The minimum balance requirement may also change from February 1. SBI's minimum balance, currently Rs 3000, could increase to Rs 5000.
PNB's minimum balance, currently Rs 1000, could increase to Rs 3500. Specific changes are also expected in digital banking.
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