If your account is in SBI, then you should know about some important rules that have changed recently. These rules can affect your savings account, fixed deposits, and personal loans. In this article, we will discuss these rules in detail and tell you what you have to do.
SBI has implemented several new rules for its customers, including KYC updates, savings account interest rates, and personal loan rules. Understanding these rules is very important for you so that you can improve your banking experience.
Banking Rules Updated 2025
Observation of rules
| Rule | Effect |
| New fixed deposit scheme | High returns and flexible withdrawal options for senior citizens. |
| KYC update | PNB compulsory KYC updates for customers, learn the required documents. |
| Savings account interest rate | SBI does not require 2.70% interest rate, no minimum balance. |
| Personal loan rules | Strict loan evaluation rules in SBI, high interest rates for high -risk borrowers. |
| Online banking fee | Rumor of monthly duty for online banking services. |
| ATM transaction fee | Changes in fee on withdrawal from ATM, know new rates. |
New fixed deposit scheme
SBI has launched new fixed deposit schemes for its customers, including SBI Har Ghar Lakhpati RD Scheme and SBI Patrons FD. SBI Har Ghar Lakhpati RD Scheme offers the option to invest in small amounts, while SBI Patrons FD is special for senior citizens (80+ years), with regular senior citizens 0.10% more interest than FD. This interest rate can go up to 7.6% at a deposit of 2-3 years.
PNB has also introduced new fixed deposit tenure, such as 7% interest on 303 days deposits and 6.7% interest on 506 days deposit. 7.25% interest is being offered for senior citizens on 400 days deposit.
BOB has launched BOB Liquid FD, in which customers can withdraw a part of their deposits without breaking the entire deposit. This option is flexible and penalty free.
KYC update
PNB has made KYC (Know Your Customer) update mandatory for its customers. Customers have to update their KYC details before 23 January 2025. The KYC update requires the following documents:
- Aadhar Card / PAN Card
- Address proof (utility bill, passport etc.)
- recent photo
- Income proof (for business accounts)
Savings account interest rate
SBI has changed the interest rate on its savings account. Now most savings accounts will get 2.70% per year interest, and there is no minimum balance requirement. This makes banking easier for students and low -income groups. Special interest rates are also provided for senior citizens.
Personal loan rules
SBI has implemented new rules for personal loans. Now strict evaluation process will be adopted for loan acceptance. The credit score will be updated every 15 days, which was earlier monthly. Borrowers who have many ongoing loans may have difficulty in acceptance of new loans. High interest rates will apply for high -risk borrowers.
Online banking fee
Although there are rumors of monthly fee for online banking services, it has not been confirmed yet. Most banks still provide free of cost to online services.
ATM transaction fee
ATM can change the fee on withdrawal. According to some reports, now only three free withdrawal will be allowed per month, then the fee will be applied to per transactions. This fee was earlier ₹ 20, which can now increase to ₹ 25. There may also be an increase in fees on withdrawal from other bank ATMs.
Conclusions and further action
By understanding these rules, you can improve your banking experience. With the KYC update and savings account interest rate changes, you should check your accounts and make the necessary updates. Due to strict rules for personal loans, you should be more careful in planning your loan.
Disclaimer: This article provides general information and does not confirm any specific banking rules or policy. There are changes in banking rules, so it would be appropriate to get the latest information by contacting your bank.
