Five free withdrawals a month, down from ten. That is what State Bank of India salary account holders get at other banks’ ATMs from October 1, 2026, according to the Times of India.
The catch is in the scope. The new cap covers all SBI salary package variants, applies at any centre, and counts non-financial transactions too, so a balance check uses up an allowance just as a cash withdrawal does. Customers on Basic Savings Bank Deposit accounts keep four free cash withdrawals a month; after that, each one costs Rs 15 plus GST. Digital transactions stay free and unlimited.
Bulk deposit rates
The Reserve Bank of India is changing how commercial banks set and publish rates on bulk fixed deposits, also from October 1. Banks must announce the rates in advance and disclose the applicable bulk rates every day at 10 am. Similar bulk deposits should get an identical rate, though banks can vary it according to the Liquidity Coverage Ratio treatment of the deposit.
UPI charges for merchants
From October 15, merchants will pay the Merchant Discount Rate on certain UPI payments above Rs 2,000. Person-to-person transfers remain free. So do payments up to Rs 2,000 and those under the zero-MDR framework for small traders, which means about 96% of person-to-merchant transactions are untouched. The rate itself will vary by the industry or category a business falls under.
LPG and pensions
Domestic LPG customers who have not yet completed Biometric Aadhaar Authentication had to do it before October 1 to book refills at the regulated selling price with the subsidy. Once authenticated, they can book at that price with the subsidy applied. Revised charges under the National Pension System are also part of the October changes.
Sources
- 5 money rule changes from October 2026: Bulk FD rates, UPI MDR starts above Rs 2,000, SBI ATM free limit falls to 5, LPG Aadhaar-KYC & new NPS charges
- October 2026 financial changes: RBI Policy, SBI ATM Charges, UPI MDR, LPG KYC, ITR deadline and more- Moneycontrol.com
