Big Changes Coming for SBI, PNB, and Bank of Baroda Customers from May 1, 2025 – Here’s What You Need to Know

If you have a bank account with State Bank of India (SBI), Punjab National Bank (PNB), or Bank of Baroda (BoB), this update is especially important for you. Starting May 1, 2025, several new rules will take effect that may significantly impact your banking experience and financial planning.

This article outlines the upcoming changes, how they will affect your account, and how you can prepare.

1. Changes in ATM Transaction Rules

All three public sector banks — SBI, PNB, and BoB — have revised their policies regarding ATM withdrawals.

• Customers will now be allowed only 5 free ATM transactions per month, including both financial and non-financial.
• Beyond that limit, each transaction will incur a fee of ₹25 to ₹30.
• These changes are expected to affect metro city customers the most due to higher ATM usage.

2. Increase in Minimum Balance Requirement

Effective May 1, customers will be required to maintain a higher minimum balance in their savings accounts.

• SBI: Minimum balance must be ₹3,000.
• PNB and BoB: The threshold will range between ₹2,500 and ₹3,500, depending on the branch location.
• Failing to maintain the minimum balance may result in penalty charges between ₹50 and ₹100.

3. New Rules for Cheque Payments

Cheque clearing procedures are also being tightened to enhance security.

• The Positive Pay System will now be mandatory for cheques above ₹50,000.
• Before issuing such cheques, customers must provide details to the bank via SMS or internet banking.
• This move aims to prevent cheque fraud and enhance verification.

4. Updates to Online and UPI Transactions

To improve digital banking safety and convenience, several enhancements are being introduced:

• The daily UPI limit will be raised from ₹1 lakh to ₹2 lakh.
• TPIN (Transaction PIN) verification will be required for high-value transactions.
• Some transactions will include additional authentication layers for better security.

5. Special Services for Senior Citizens

To make banking more accessible for elderly customers, banks are rolling out new senior-friendly features:

• Enhanced home banking services including cash delivery, passbook updates, and cheque collection at lower charges.
• An additional 0.50% interest on fixed deposits (FDs) will continue for senior citizens.

6. Improved Customer Support and Complaint Redressal

Customer service systems are getting a major upgrade:

• Banks aim to resolve complaints within 48 hours.
• Official mobile apps and websites have been updated to streamline online complaint filing.
• Helpline numbers and WhatsApp banking services have also been enhanced for easier communication.

Bottom Line: What Should You Do Now?

If you’re an SBI, PNB, or BoB account holder, these new banking regulations will affect your everyday transactions and account management. Here’s how to prepare:

• Ensure your minimum balance is maintained.
• Limit ATM transactions to avoid extra charges.
• Update your mobile banking app and stay informed through official bank communications.
• Use digital banking smartly and securely.

Staying proactive now will help you avoid unexpected charges or disruptions when the rules go live on May 1, 2025.