It is important to know these changes in advance so that you can plan your budget and avoid any financial problems next month.

Changes related to credit cards…

There are significant changes related to credit cards. If you use an SBI card, then from August 11, the free air accident insurance on some co-branded cards will end. Till now, SBI, in collaboration with UCO Bank, Central Bank, PSB, Karur Vysya Bank and Allahabad Bank, used to provide insurance cover ranging from Rs 50 lakh to Rs 1 crore on some special cards. Now this facility is being discontinued, which may come as a shock to the cardholders.

Gas cylinder prices may change…

There may be a change in the price of LPG and commercial cylinders. Like every month, oil companies fix the prices of cylinders on August 1. In July, the price of a 19 kg commercial cylinder was reduced by Rs 60, but the price of LPG remained the same. Now it is expected that LPG may become cheaper on August 1, which will be a relief for the household budget.

Changes in rules related to UPI payments…

The new rules will be applicable for those who make payments through UPI. If you use Paytm, PhonePe or Google Pay, the National Payments Corporation of India has imposed some limits. Now you will be able to check your balance only 50 times in a day and check bank accounts linked to your mobile number 25 times.

Autopay transactions, such as Netflix or mutual fund installments, will now be processed three times a day: before 10 a.m., between 1 p.m. and 5 p.m., and after 9:30 p.m. The status of failed transactions can only be checked three times a day, with a 90-second gap between each check.

There has been no change in the prices of CNG and PNG

since April 2025, when CNG was Rs 79.50 per kg and PNG was Rs 49 per unit in Mumbai. Now the prices are expected to change on August 1.

There will be so many bank holidays next month….

The list of bank holidays in August has been released. The Reserve Bank of India decides holidays every month based on festivals and important dates, which may vary at different places. There will be 16 bank holidays in the month of August.

Aviation fuel (ATF) prices may also change on August 1. This may affect the prices of air tickets. These changes may increase your monthly expenses, so plan ahead.

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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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FDs of less than 2 crores increased interest rates
Indian Overseas Bank has increased the interest rate on Fixed Deposit (FD Rates) from the bank. The new rates will be applicable from Tuesday, September 13. The bank has increased the interest rates on FDs below Rs 2 crore. If you have lump sum amount then you can also invest it in FD. Let us know about the new interest rate of Indian Overseas Bank-

Indian Overseas Bank New Interest Rates

7-29 Day FD – 3.25%
30-45 Day FD – 3.35%
46-90 Day FD – 3.75%
91-120 Day FD – 4.10%
121-179 Day FD – 4.10%
180-269 day FD – 4.65%
270 day to 1 year FD – 4.65%
1-2 year FD – 5.50%

A special FD of 444 days has been launched by the bank with an interest of 5.60 percent on FD for three years . In this scheme, the customer is getting an interest of 5.65 percent for 444 days. If the customer makes an FD for two to three years, then he will get interest at the rate of 5.60 percent. Apart from this, 6 percent interest will be available on FD of 1000 days.

These banks have also increased the rate on FD , after increasing the repo rate by RBI, many banks have changed the interest rate of FD. Private sector Axis Bank has also changed FD rates. The bank has increased the interest rate by 25 basis points. Which has come into effect from 9 September.

The post Bank New Rules: Good News to the customers of this government bank! This rule will be applicable from tomorrow first appeared on Rightsofemployees.com.