New Money Rules From October 2026: UPI Fees, SBI ATM Limit, NPS Charges and Bank FD Disclosure
UPI: What Stays Free
From 15 October a 0.4 per cent merchant discount rate applies to specified person-to-merchant UPI payments above ₹2,000. Person-to-person transfers remain free at any amount, and payments by individuals to merchants up to ₹2,000 stay free. Essential services such as railways, telecom, fuel and insurance will carry a flat ₹5 fee per transaction above ₹2,000.
Banking Changes
From 1 October, banks must publish rates for bulk deposits of ₹3 crore or more on their websites every business day and keep one fixed rate for a given deposit amount across branches. SBI salary-package account holders now get five free monthly transactions at other banks’ ATMs, down from ten.
NPS Fees
PFRDA has set a one-time onboarding fee of ₹200 for each PRAN opened through a Point of Presence, plus an annual fee of 0.20 per cent of assets under management, except for dormant accounts.
What to Do
Check your bank’s notices and your NPS intermediary’s fee schedule, and keep using UPI for peer-to-peer transfers as before.
Sourced from Outlook Money, TradingView News and DNP India reports on October 2026 rule changes. Details may be revised; confirm with your bank.
