New Financial Rules from November 1, 2025 : From November 1, 2025, several new rules will be implemented in the banking and financial sector. These changes will directly impact ordinary customers, government employees, and pensioners. These include bank nominations, SBI card charges, and pension-related deadlines. Let’s learn more about these changes.
1. Now you can add 4 nominees to your bank account.
Bank account holders are set to receive significant relief starting November 1st. They can now add up to four nominees to a single account. Previously, only one nominee was allowed, but now four can be added. According to the new rules, customers can add all nominees simultaneously or sequentially. This will simplify the claims process in the event of an unforeseen event. However, only sequential nominations will be allowed for bank lockers. This means that if the first nominee is unavailable, the second nominee will take their place. This will reduce the likelihood of disputes or delays.
2. 1% charge on SBI cards – impact on education payments
SBI Card, the country’s largest banking group, has revised its charges. Starting November 1, any education payment made through a third-party platform like CRED, Cheq, or MobiKwik will attract a 1% fee. However, if the payment is made directly through the school or college’s website or their POS machine, there will be no additional fee. Additionally, a 1% charge will be levied on wallet top-ups above Rs 1,000, applicable to select merchant categories.
3. Unified Pension Scheme (UPS) last date till November 30
The central government has extended the last date for employees to join the Unified Pension Scheme (UPS) to November 30, 2025. Previously, this deadline was September 30.
4. Life Certificate for Pensioners
As every year, central and state government pensioners must submit a life certificate between November 1 and November 30, 2025. This certificate can be submitted online (digitally) or at a bank or post office. Submitting it on time ensures uninterrupted pension payments. This facility has already been extended to pensioners aged 80 years or older, effective October 1.
