These rules will change from 1 February 2025, know the impact on common man

The month of January is over and several new rules have come into force since 1 February 2025. On this day, Finance Minister Nirmala Sitharaman will present the General Budget 2025 in Parliament, but apart from this many rules have been changed. These changes will directly affect the life of the common man. There have been changes in rules like banking, UPI transactions and cash withdrawal from ATMs. Let’s know which rules have changed.

The fee will increase on withdrawing cash from ATM

The rules for cash withdrawal from ATM have been changed since 1 February 2025. Now:

Cash withdrawal can be done only 3 times every month.
The fourth time and then the transaction per transaction will be charged Rs 25 (earlier Rs 20).
If you withdraw money from the ATM of another bank, then you have to pay Rs 30 per transaction.
Up to a maximum of Rs 50,000 can be withdrawn in a day.

With this change, people will have to do ATM transaction planning, so that additional fees can be avoided.

New rules of UPI Transaction

The National Payments Corporation of India (NPCI) has implemented new rules related to UPI transactions.

Now only the UPI ID with alphanumeric characters will be valid.
The UPI ID with special characters like #, @, $, * will be blacklisted.
If a user does not follow these rules, their UPI ID will be blocked.

UPI has become the most prominent medium of digital payment, so this change has been done keeping in mind the security and ease.

Increase in interest rate of savings accounts

State Bank of India (SBI), Punjab National Bank (PNB) and other banks are planning to pay more interest on savings accounts since 1 February 2025.

The interest rate of savings account can be increased from 3% to 3.5%.
Senior citizens will get an additional 0.5% interest, which will give them more benefits.

This change has been made to promote savings, which will increase the deposits of customers in the banking sector.

New conditions of minimum balance

Now bank account holders will have to keep more minimum balance in the savings account.

The minimum balance in SBI was increased from Rs 3000 to Rs 5000.
PNB was increased from Rs 1000 to Rs 3500.
Canara bank was increased from Rs 1000 to Rs 2500.

This change will have a direct impact on the customers whose minimum balance in the account can be difficult to maintain.