Major Bank Changes: SBI, HDFC, ICICI, and PNB Revise Charges in February

February 2026 saw a few notable updates from major Indian banks, with changes affecting areas such as IMPS transactions, credit card features, and select service charges. While some revisions were introduced for specific banking services, the overall structure of basic savings accounts remained largely unchanged. Below is a bank-wise breakdown of what has changed and what has stayed the same.

Major Bank Changes: SBI, HDFC, ICICI, & PNB

This article aims to provide a clear, bank-wise overview of the latest changes announced by SBI, HDFC Bank, ICICI Bank, and Punjab National Bank (PNB). It highlights what has been revised, what remains the same, and how these updates may impact customers, helping readers quickly understand the practical implications of the February 2026 banking changes.

SBI: Revised IMPS Charges from Mid-February

SBI has updated its IMPS fee structure for higher-value digital transactions, effective 15 February 2026. Smaller IMPS transfers continue to be free.

IMPS via Mobile Banking / Internet Banking / YONO

• Up to ₹25,000: No charge
• Above ₹25,000 to ₹1 lakh: ₹2 + GST
• ₹1 lakh to ₹2 lakh: ₹6 + GST
• ₹2 lakh to ₹5 lakh (daily cap): ₹10 + GST

Other SBI Charges

• IMPS at branch counters: No revision; charges remain between ₹2 and ₹20 + GST, based on amount.
• ATM usage at non-home branches: Charges unchanged
  • Financial transaction: ₹20 + GST
  • Non-financial transaction: ₹8 + GST
• Savings account minimum balance rules: No change in February 2026. Basic, Salary, and BMH accounts continue with existing relaxations.

HDFC Bank: Credit Card Reward Usage Limits Introduced

HDFC Bank has not altered savings account or fund transfer charges in February 2026. The only notable update applies to premium credit card reward redemptions.

Infinia Metal Credit Card Update (from 1 Feb 2026)

• Reward redemptions are now limited to 5 transactions per calendar month
• Applies across all redemption categories such as vouchers, gifts, and catalog items
• Designed to curb excessive or bulk redemptions

Other Areas

• Savings and current account charges: No new revisionsA
• IMPS / NEFT / RTGS charges: Continue as per earlier slabs
• Loan and business-related fees: No February update

ICICI Bank: Multiple Credit Card Fee & Benefit Changes

ICICI Bank’s February 2026 updates focus largely on credit card usage costs and discontinued benefits, while deposit account charges remain stable.

Discontinued Benefits (from 1 Feb 2026)

Complimentary movie ticket offers via BookMyShow removed on select cards such as Platinum and certain Emeralde variants

Revised / New Credit Card Fees

• Cash payment at branch counters: Increased to ₹150 per transaction
• Instant EMI cancellation: Foreclosure charges now applicable
• Add-on cards: New supplementary cards issued after mid-January 2026 (e.g., Emeralde Private Metal) attract a one-time fee of ₹3,500
• Transport spends: 1% fee applicable once monthly transport transactions exceed ₹50,000
• Online gaming spends: 2% charge on all gaming-related transactions

Savings Account & Transfers

• No fresh revision in IMPS, NEFT, or RTGS charges during February 2026

PNB: Focus on Lending Rates & KYC Compliance

PNB has not introduced any new transaction charges in February 2026. Instead, the bank has reiterated its lending rates and compliance requirements.

MCLR Rates (Unchanged for Feb 2026)

• Overnight: 7.95%
• 1 month: 8.20%
• 1 year: 8.75%
• 3 years: 9.05%

Other Rates

• Repo Linked Lending Rate (RLLR): 8.10%
• Base Rate: 9.50%

KYC Advisory

• Customers must complete pending KYC updates by 2 February 2026 to prevent restrictions on account operations.

Transaction Charges

• RTGS, NEFT, and IMPS charges remain unchanged as per the existing PNB fee schedule.