Starting April 1, 2025, several new banking rules will come into effect, impacting millions of customers across India. Whether you have an account with SBI, PNB, Canara Bank, or any other major bank, these changes will affect savings account holders, UPI users, and senior citizens.

From revised minimum balance requirements to updated UPI policies and higher TDS limits, here are the five crucial banking rule changes you need to be aware of.

1. Increased Minimum Balance Requirements for Savings Accounts

💰 What’s Changing?
Banks like State Bank of India (SBI), Punjab National Bank (PNB), and Canara Bank have updated their minimum balance requirements for savings accounts.

📌 The minimum balance requirement will now vary based on:
✅ Type of savings account (Basic, Premium, Salary, etc.)
✅ Customer’s location (Urban, Semi-Urban, or Rural)

🚨 Impact on Customers:

• Customers in urban areas may need to maintain a higher minimum balance than those in rural regions.
• Penalty charges for not maintaining the minimum balance could also be revised.

📝 What You Should Do:
✔️ Check your bank’s official website or branch for new minimum balance rules.
✔️ Ensure your account has sufficient balance to avoid penalties.

2. Deactivation of Inactive Mobile Numbers Linked to Bank Accounts & UPI

📱 What’s Changing?
The National Payments Corporation of India (NPCI) has issued a directive requiring banks and UPI service providers (like Google Pay, PhonePe, and Paytm) to remove bank account links from mobile numbers that are inactive or not in use.

🚨 Impact on Customers:

• If you have changed your mobile number but haven't updated it with your bank, your UPI services may get deactivated.
• Your bank may stop sending OTPs and transaction alerts to an inactive number, increasing the risk of fraud.

📝 What You Should Do:
✔️ Ensure your mobile number is updated with your bank.
✔️ If you have changed your number, update it through net banking or by visiting your branch.

3. Higher TDS Limit on FD & RD Interest for Senior Citizens

🏦 What’s Changing?
The government has increased the TDS (Tax Deducted at Source) exemption limit on Fixed Deposits (FDs) and Recurring Deposits (RDs) for senior citizens.

📌 Previous Rule:

• Banks deducted TDS on interest exceeding ₹50,000 per year.

📌 New Rule (Effective April 1, 2025):

• The TDS exemption limit has been increased to ₹1,00,000 per year.

🚨 Impact on Senior Citizens:

• Those earning up to ₹1 lakh in interest annually will not have TDS deducted from their FD or RD.
• This will provide better financial relief and higher net returns for senior citizens.

📝 What You Should Do:
✔️ If you’re a senior citizen, check if Form 15H submission is required to claim the exemption.
✔️ Plan your FD and RD investments accordingly to maximize tax benefits.

4. Stricter UPI Transaction Limits & Security Enhancements

💳 What’s Changing?
To improve security and prevent fraudulent transactions, banks and UPI service providers are implementing stricter limits and verification processes for UPI payments.

📌 Key Updates:
✅ Daily UPI transaction limits may be adjusted, depending on the customer’s account type and history.
✅ Additional verification steps (such as biometric authentication or OTP verification) may be required for high-value UPI transfers.
✅ Suspicious or unusual transactions may be blocked temporarily for security reasons.

🚨 Impact on Customers:

• Frequent UPI users may need to adjust their transaction habits.
• Instant transfers for new UPI users may be restricted for a short period after registration.

📝 What You Should Do:
✔️ If you use UPI frequently, check with your bank about the latest transaction limits.
✔️ Keep your mobile banking app updated for security improvements.

5. Revised Bank Locker Charges & Policies

🔑 What’s Changing?
Several banks, including SBI, PNB, and HDFC Bank, have revised their locker rental charges and security policies.

📌 Key Updates:
✅ Locker rental fees have been increased in some categories.
✅ Banks will now mandate regular locker usage—lockers that remain unused for a long period may be reallocated.
✅ Customers must sign a revised locker agreement as per RBI’s latest guidelines.

🚨 Impact on Customers:

• Those with bank lockers will need to review their revised charges.
• Non-usage of lockers for extended periods could result in cancellation.

📝 What You Should Do:
✔️ Check with your bank for locker fee changes and updated agreements.
✔️ If you rarely use your locker, consider whether it's necessary to continue renting it.

Final Thoughts: How These Changes Affect You

These banking rule changes from April 1, 2025, will impact savings account holders, senior citizens, and UPI users. Here’s a quick summary of what you should do:

✅ Maintain the new minimum balance to avoid penalties.
✅ Update your mobile number with your bank for continued UPI services.
✅ Senior citizens should plan FD/RD investments to benefit from higher TDS exemption.
✅ Be aware of revised UPI limits and additional security measures.
✅ Review locker rental charges and comply with new agreements.

💡 Stay informed and take necessary actions to avoid any disruptions in your banking experience! 🚀