Banking Rules Changes: If you are thinking that the money lying in the bank account is safe savings and no additional cost has to be paid for its use, then you need to change this understanding. Public and private sector banks are now continuously tightening rules on service charges, cash withdrawals and fund transfers. From October 1, 2026, major changes are being implemented in the regulations of reputed banks in the country.

Cash withdrawal rules changed in BSBD account of SBI

State Bank of India (SBI) is going to make a major change in the rules for its Basic Savings Bank Deposit (BSBD) i.e. zero-balance accounts from 1 October 2026. Till now withdrawals under Aadhaar-based Payment System (AePS) were beyond the limit of 4 free transactions per month. But as per the new rule, now AePS withdrawals made at ATM, Branch or Customer Service Center (CSP) will also count among these 4 free transactions. After 4, each additional withdrawal will incur a charge of ₹15 plus GST. However, digital transfers like UPI, NEFT and RTGS will remain free.

Increase in Axis Bank Credit Card Charges and Penalties

Axis Bank has increased the Dynamic Currency Conversion (DCC) markup charge on its credit cards from 1.5% to 3.5%. This will have a direct impact on Indian users making payments on foreign websites. In addition, a late payment fee of ₹1,300 has been fixed on outstanding balances above ₹50,000. All reward points on tolls, bridge fees and road tax have been canceled and bill settlement rules have also been tightened.

International transactions on Kotak Mahindra Debit Card are expensive

Kotak Mahindra Bank has increased the charges on international transactions and DCC transactions for its debit card holders from 1% to 3.5% directly. When a customer chooses to pay in Indian currency on a foreign portal or during a foreign travel, this additional burden will be on them.

IMPS will not be free in IndusInd Bank, balance charge increased

IndusInd Bank has discontinued free IMPS facility on savings accounts. Fund transfers up to ₹10,000 will now be charged at ₹2.50, up to ₹1 lakh at ₹5 and transfers above ₹1 lakh at ₹10 plus GST. Instead of quarterly average balance, it will now be mandatory to maintain monthly average balance (MAB), failure of which will attract a penalty of 6% (maximum ₹600). A fee of ₹5 per thousand (minimum ₹150) on cash transactions beyond the prescribed limit (4 times or ₹1 lakh) and the annual renewal charge for Visa Gold and Rupee debit cards has been increased to ₹299.