With the beginning of the new month, many important financial rules are going to come into effect from 1 November 2025. These changes will have a direct impact on bank customers, credit card holders and government employees. These include multiple nominees in bank accounts, change in SBI card fees, and new last date to switch from NPS to UPS.
🔹 Main points
Facility to add multiple nominees to bank account and locker from 1 November 2025.
SBI Card introduces new fees on education payments and wallet load.
PNB reduced locker rent.
Pensioners will have to submit Life Certificate by 30th November.
The deadline for switching from NPS to UPS extended till 30 November.
November 1st. Day 1 of month, wooden color calendar on light background. Autumn time.
🏦 Now you can add four nominees to your bank account
New nomination rules will be applicable on bank accounts, lockers and safe custody items from November 1. Now customers can add up to four nominees to their account and decide who will be entitled to the funds in case of an emergency.
This step has been taken to reduce family disputes and simplify the nominee claim process.
💳 New fees in SBI card
SBI Card has changed its charges.
Now 1% charge will be levied on education payments made through third party apps like CRED, Cheq, MobiKwik etc.
There will be no charge on payments made directly to the school, college or university.
Additionally, if any wallet load transaction exceeds ₹1,000, a 1% charge will also be levied.
🔐 PNB locker rent becomes cheaper
Punjab National Bank (PNB) has reduced locker rent for all categories.
The new rent charges will be applicable 30 days after the notification of October 16, 2025, i.e. from mid-November. Rent has been reduced in all regions and locker sizes.
👴 Important rules for pensioners
Central and state government pensioners are required to submit Life Certificate (Jeevan Pramaan) between November 1 and November 30, 2025 so that they get their pension on time.
This facility has been provided to pensioners above 80 years of age from October 1.
🧾 New deadline for switch from NPS to UPS
The central government has fixed 30 November 2025 as the last date for switching from NPS to UPS (Unified Pension Scheme).
This exemption is applicable for existing employees, retired employees and spouses of deceased employees.
📊 Main information table
Date of effect of changes Key information Multiple nominees in bank account 1 November 2025 Facility to add four nominees in one account Change in SBI card charges 1 November 2025 1% fee on education payment and wallet load Reduction in PNB locker rent Rent reduced in all sizes and sectors from mid-November Life certificate deposit 1–30 November 2025 NPS to UPS switch required to keep pension active till 30 November 2025 Central government employees Last date extended for
❓ Question-Answer
Q1: Now can we add four nominees in every bank account?
Yes, under the new rule a maximum of four nominees can be added to one account.
Q2: When will the new SBI card charge be applicable?
From November 1, 2025, 1% charge will be applicable on education payments and wallet load.
Q3: By when do pensioners have to give life certificates?
From 1 November to 30 November 2025.
Q4: Has the date for switching from NPS to UPS been extended?
Yes, now its last date has been changed to 30 November 2025.
Q5: How much is the difference in PNB locker rent?
Rent has been reduced in all categories, so that customers get relief.
