Banking rules are constantly evolving, and 2025 has brought significant changes for account holders of State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BOB). Whether you are a salaried individual, a business owner, or a senior citizen, these updates will impact how you manage your savings, fixed deposits, and personal loans.
Banking Rules Update 2025
| Change | Bank | Key Impact |
|---|---|---|
| New Fixed Deposit Schemes | SBI, PNB, BOB | Higher returns for senior citizens & flexible withdrawal options |
| KYC Compliance Updates | PNB | Mandatory update by January 23, 2025 |
| Interest Rate Updates | SBI | Savings accounts now offer 2.70%+ interest with no minimum balance |
| Loan Regulations | SBI | Stricter rules for personal loans to reduce default risks |
With 2025 bringing significant banking changes, SBI, PNB, and BOB account holders must stay informed and take necessary actions to adapt to the updates. Whether it’s updating KYC details, optimizing fixed deposits, or understanding new loan rules, keeping up with these changes will ensure a seamless banking experience.
1. New Fixed Deposit Schemes in 2025
SBI Fixed Deposit Updates
- SBI Har Ghar Lakhpati RD Scheme: This recurring deposit scheme allows individuals to save in small amounts and accumulate ₹1 lakh or more over a period.
- SBI Patrons FD: An exclusive scheme for senior citizens (80+ years) that provides 0.10% extra interest over regular senior citizen FDs. Interest rates can go up to 7.6% for 2-3 year deposits.
PNB Fixed Deposit Updates
- New FD Tenures:
- 303 days – 7% interest for general customers.
- 506 days – 6.7% interest for general customers.
- 400-day FD – Offers 7.25% interest for senior citizens.
BOB Fixed Deposit Updates
- BOB Liquid FD: Account holders can now withdraw part of their FD without breaking the entire deposit, making it flexible and penalty-free.
see also: A Smart Way to Get Instant Funds Without Breaking Your Fixed Deposit
2. KYC Updates for PNB Customers
Punjab National Bank has made it mandatory for customers to update their KYC (Know Your Customer) details before January 23, 2025. Failure to do so may result in account restrictions.
- Documents required for KYC:
- Aadhaar Card / PAN Card
- Address Proof (Utility Bill, Passport, etc.)
- Recent Photograph
- Income Proof (for business accounts
3. Savings Account Interest Rate Changes
State Bank of India (SBI) has introduced new savings account interest rates:
- 2.70% per annum on savings accounts.
- No minimum balance requirement for most accounts, making banking easier for students and low-income groups.
- Special privileged interest rates for senior citizens.
4. Stricter Personal Loan Regulations
SBI has implemented new credit assessment rules for personal loans:
- Better credit monitoring: Banks will now update credit scores every 15 days instead of monthly.
- Stricter loan approvals: Borrowers with multiple ongoing loans may face difficulty getting approval for new ones.
- Higher interest rates for high-risk borrowers.
5. RBI’s Decision on “Too Big to Fail” Banks
The Reserve Bank of India (RBI) has reaffirmed that SBI, HDFC Bank, and ICICI Bank remain on the list of “Too Big to Fail” (D-SIBs). This means:
- These banks must hold extra capital reserves to maintain financial stability.
- Customers can feel safer banking with these institutions due to their added security measures.
see also: Top 5 Risk-Free Investment Schemes Offering High Returns Before March 31, 2025
Banking Rules Update 2025 FAQs
1. What happens if I don’t update my KYC with PNB?
Your account may be restricted or frozen until KYC details are updated.
2. How can I check my SBI savings account interest rate?
You can visit SBI’s official website or check your bank statement.
3. Can I withdraw a part of my FD without penalty?
Yes, BOB’s Liquid FD now allows partial withdrawals without breaking the entire deposit.
4. Will personal loan approvals become more difficult in 2025?
Yes, SBI has stricter credit evaluation processes to prevent excessive lending.
5. What does “Too Big to Fail” mean for SBI customers?
SBI being on the D-SIB list ensures greater financial security and stability for depositors.
