Business Desk- October Rules Change: The new month of October 2026 is about to start. Along with festivals, this month is also bringing many important changes for the common people. There is going to be a change in the rules related to banking, ATM transactions, large FD, LPG subsidy and NPS from October 1.
Some of these changes may directly impact your pocket, while in some new rules related to process and fees will be applicable. Therefore, if you are a salary package customer of SBI, take LPG subsidy or are preparing to open a new account in NPS, then it is important to know about these changes in advance.
Expensive for SBI customers to withdraw cash from ATM of other banks
From October 1, using ATMs of other banks may become expensive for SBI salary package customers. Under the new rule, such customers will get only 5 free transactions every month at ATMs of other banks. Currently this limit is of 10 transactions. This limit includes not only cash withdrawals but also non-financial services like balance checks.
After the free transaction limit is over, you will have to pay Rs 23 and GST for each transaction to withdraw cash from another bank’s ATM. Whereas for non-financial services like balance check, a fee of Rs 11 plus GST will be charged. In such a situation, this change is important for the customers who use ATMs of other banks more.
Rules for telling interest rates on big FDs will change
From October 1, banks will have to provide new information regarding interest rates on large amount Fixed Deposits i.e. FDs. The bank will have to disclose the interest rate of such FD on its website by 10 am every working day. If necessary, an additional extension of 10 minutes can be given for this.
Large FDs of the same category made on the same day will generally have the same interest rate. However, the interest rate may be different in some cases depending on the cash requirement of the bank and its related rules.
In scheduled commercial banks, deposits of Rs 3 crore or more are generally kept in the category of large FD. However, this limit may be different for some banks.
Aadhaar biometric verification necessary for LPG subsidy
The new rule will also be applicable for families taking LPG subsidy from October 1. To continue the subsidy, biometric verification of Aadhaar will have to be completed. Customers can complete this process by visiting their gas agency. Apart from this, verification facility will also be available through mobile app.
In some cases, the employee delivering the LPG cylinder can also do biometric verification of the customer while delivering the cylinder. That means, to continue availing the subsidy, it will be necessary to complete Aadhaar verification.
Fee of Rs 200 for opening a new account in NPS
There will be a change in fees for those opening a new account in the National Pension System i.e. NPS from October 1. If a person registers in NPS through Point of Presence i.e. POP, then a new joining charge will be taken from him.
This fee will be Rs 200 for every PRAN i.e. Permanent Retirement Account Number. This means that while opening a new account in NPS through POP, this additional fee of Rs 200 will also have to be kept in mind.
Prepare for these tasks before October 1
These changes, which will be implemented in October, will affect different people differently. SBI salary package customers can avoid additional charges by reducing the use of other banks’ ATMs. Families taking LPG subsidy should complete Aadhaar biometric verification.
Those opening a new account in NPS will have to keep in mind the joining charge of Rs 200. The process of giving information about the new interest rate for those who invest large amount in FD will also change from October 1.