Bank New Rules in February 2025 : On February 1, Finance Minister Nirmala Sitharaman will present Budget 2025. Apart from this, like every month, this month too some rules will come and there will be changes.
These include banking changes. The Reserve Bank of India (RBI) will make major changes in the banking system. In such a situation, some account holders will have to face new arrangements.
In fact, banking services in big banks like State Bank of India, Punjab National Bank and Canara Bank will change. The new rules aim to make digital banking even better.
To encourage and prevent banking fraud. Let’s know which 5 banking rules will change from February 1?
Changes in ATM withdrawal charges
There may be changes in ATM withdrawal charges from February 1, 2025, which may increase. As per the rules, you can withdraw cash from ATMs free of cost only 3 times in a month. However, after this, a fee of Rs 25 will be charged for each transaction. Earlier, a fee of Rs 20 was charged. Please note that if you withdraw money from an ATM of a bank other than your bank’s ATM, you will have to pay a fee of Rs 30 for the same. As per the rules, a maximum of Rs 50,000 can be withdrawn in a day.
Interest rate change
State Bank of India, Punjab National Bank and other banks may offer higher interest on savings accounts. From February 1, the interest rate on savings accounts will be increased from 3 percent to 3.5 percent. Senior citizens will get an additional benefit of 0.5 percent on savings accounts.
Changes in minimum balance
The minimum balance will change from February 1. In such a situation, account holders will have to maintain a maximum minimum balance in their savings account. Earlier, it was mandatory for State Bank of India account holders to maintain a minimum balance of Rs 3000. Now the minimum balance will be increased to Rs 5000. For Punjab National Bank customers, the minimum balance in their accounts will be increased from Rs 1,000 to Rs 3,500. Along with this, the minimum balance limit of Canara Bank will be increased from Rs 1000 to Rs 2500. If the minimum balance is not maintained, then the account holders may have to pay a penalty.
ATM transaction limit
One change in banking rules from February 1, 2025 will be that Kotak Mahindra Bank will change the rules related to ATMs for its customers. In fact, there will be changes in the fees including general facilities for customers. The fees for different types of banking services will be determined by the bank.
Digital banking service
There will also be changes in digital banking services from February 1. Facilities related to online and mobile banking will be expanded. New services may be added that will make transactions more secure and faster. Users can get the benefit of more cashback by making digital payments.
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