From ATM Charges to Revised NPS Fees: 5 Major Financial Rule Changes in October 2026
October brings several changes across banking, digital payment and investment industries that may impact consumers' financially. Here are five financial changes you should be aware of:
1. SBI ATM withdrawal rules change
From October 1,2026, The SBI Salary Package Account holders will now get 5 free transactions per month at the ATM/ADWMs of other banks, compared to 10 previously. The limit includes both financial and non-financial transactions. Once the free transactions are exhausted, cash withdrawals will incur a fee of ₹23+GST and non-financial transactions will incur a fee of ₹11+GST. SBI ATM transactions continue to be the same.
2. New rules for bulk fixed deposits
From October 1, 2026, RBI’s revised rules will make bulk FD rates more transparent. Banks must publish the applicable bulk-deposit interest rate on their websites by 10 AM on each working day, with a grace period of 10 mins. The same rates should be charged at all branches of the bank for a similar deposit, made on the same day. For scheduled commercial banks, bulk deposits generally mean 3 crore or more, so regular retail FD investors are largely affected.
3. NPS charges revised
PFRDA will introduce a new structure of charges for NPS and NPS Lite from 1st October, 2026. Subscribers who onboard through a Point of Presence (PoP) will have to pay a one-time onboarding fee of ₹200 and an annual fee of 0.20% of AUM. This annual charge will be taken quarterly from the NAV. However those subscribers that have been onboarded via e-NPS and are remitting via e-NPS or D-Remit will not have to pay PoP charges.
Also read: AAA-Rated Bond vs SBI 3-Year FD: ₹10 Lakh Investment Could Grow to ₹12.41 Lakh - Check Returns and Risks
4. UPI Merchant Payments
From October 15,2026, a 0.4% of Merchant Discount Rate (MDR) for eligible merchants' UPI transactions above ₹2,000 will be charged. However the customer will not be charged, the MDR is paid by the merchant. The person-to-person (P2P) transfer continues to be free of charges, and payments of up to ₹2,000 and eligible small merchant transactions continue to not bear MDR. High-value transactions (₹75,000 and above) have an MDR cap of ₹300 per transaction . Certain categories like railways, telecom, insurance, fuel, and utilities have a flat ₹5 MDR instead of 0.4% for amounts above ₹2,000.
5. Biometric Aadhaar Authentication (BAA) for LPG subsidy
From October 1, 2026, Domestic LPG consumers receiving LPG subsidy will be required to complete Biometric Aadhaar Authentication (BAA) to avail LPG subsidy for booking subsidy refills at the regulated selling price. Once confirmed, the eligible consumers can keep availing the applicable government subsidy.
Overall, the financial changes introduced in October 2026 highlight the growing need for consumers to stay informed and manage their finances carefully. Changes in ATM fees, fixed-deposit transparency, NPS charges, UPI merchant payments, and LPG subsidy authentication may affect different groups in different ways. Consumers should review the rules applicable to them, understand any additional charges or requirements, and complete necessary formalities on time.