February 2026 Bank Changes: SBI, HDFC, ICICI & PNB New Rules Explained

February 2026 bank rule changes bring new SBI IMPS charges, ICICI credit card benefit cuts, HDFC reward limits and mandatory PNB KYC updates that may increase your banking costs.

If you use SBI, ICICI Bank, HDFC Bank, or Punjab National Bank for daily banking, then February 2026 deserves your attention. Because several important banking and credit card rules are changing, your everyday transactions, rewards, and even account access could be affected. Therefore, staying informed now can help you avoid surprise charges and last-minute hassles later.

Moreover, these updates are not minor tweaks. Instead, they directly impact money transfers, credit card perks, and compliance requirements. While SBI will start charging for certain IMPS transfers, ICICI has removed a popular movie benefit. Meanwhile, HDFC has capped reward redemptions, and PNB has made KYC updates mandatory. Let’s break down each change clearly and practically.

SBI IMPS Charges and Online Transfer Fees

First, SBI has introduced service charges on higher-value IMPS transfers. Earlier, many customers enjoyed low-cost or free transfers; however, the bank will now charge a small fee depending on the amount. Consequently, frequent or large transfers may cost more than before.

These charges will apply from 15 February 2026. Therefore, if you regularly send money to vendors, family, or business accounts through IMPS, you should plan your transfers carefully. Additionally, you may consider alternatives such as UPI or NEFT for cost savings.

Transaction Amount	Service Charge
₹25,000 – ₹1 lakh	₹2 + GST
₹1 lakh – ₹2 lakh	₹6 + GST
₹2 lakh – ₹5 lakh	₹10 + GST

For example, if you transfer ₹2 lakh, you will pay ₹6 plus GST. Although the fee looks small, repeated transactions throughout the month can add up. Hence, comparing payment modes becomes important.

ICICI Bank Credit Card Movie Benefit Discontinued

On the other hand, ICICI Bank has removed a well-known lifestyle benefit. From 1 February 2026, the bank will discontinue the complimentary movie ticket offer available through BookMyShow on select credit cards. Previously, many customers used this perk every month; however, the benefit will no longer be available.

Nevertheless, the bank continues to reward everyday spending. Moreover, customers will still earn reward points on categories like transport and insurance payments. Therefore, regular spenders can still extract value from their cards.

Feature	Status from Feb 2026
Complimentary Movie Tickets	Discontinued
Transport Spend Rewards	Continues
Insurance Spend Rewards	Continues

So, if you kept the card mainly for entertainment benefits, you may want to reassess. However, if you spend heavily on fuel, travel, or insurance, the rewards structure still supports you.

HDFC Bank Infinia Credit Card Reward Redemption Limit

Meanwhile, HDFC Bank has updated its premium Infinia Metal Credit Card program. The bank will now allow reward point redemption only five times per month. Earlier, customers redeemed points multiple times without restrictions; however, the new cap encourages more planned usage.

As a result, you should accumulate points and redeem them strategically instead of making frequent small redemptions. Additionally, combining points into fewer transactions may give you better value.

Rule	New Policy
Reward Redemption Frequency	Maximum 5 times per month

Importantly, reward earning rules remain unchanged. Therefore, you can still collect points as usual while simply adjusting how you redeem them.

PNB Mandatory KYC Update and Compliance Alert

In addition, Punjab National Bank has issued an important compliance notice. According to RBI guidelines, customers whose KYC is due as of 31 December 2025 must complete the update by 2 February 2026. Otherwise, the bank may restrict account operations.

Consequently, failure to update KYC could lead to limited withdrawals, blocked transactions, or temporary freezes. Therefore, visiting your branch or completing the process online as soon as possible is the safest approach.

Requirement	Deadline
KYC Update	2 February 2026
Non-Compliance	Account restrictions possible

Fortunately, the process usually takes only a few minutes with Aadhaar and PAN details. Hence, completing it early can save unnecessary trouble.

How Customers Should Prepare for These Changes

Now that you know the updates, you can act smartly. First, review your bank apps and websites for detailed charges. Next, reduce large IMPS transfers where possible and switch to UPI or NEFT. Additionally, plan your credit card reward redemptions wisely. Finally, if you hold a PNB account, update your KYC immediately.

Overall, these changes may look small individually; however, together they can influence your monthly banking expenses. Therefore, informed decisions will help you protect both convenience and savings.

FAQ

Q1. What changes has SBI made to IMPS transfers from February 2026?
SBI will charge ₹2 to ₹10 plus GST on IMPS transfers above ₹25,000 based on the transaction amount.

Q2. When will SBI IMPS service charges start?
The new IMPS charges will be effective from 15 February 2026.

Q3. Which ICICI Bank credit card benefit has been discontinued?
ICICI Bank has discontinued the complimentary BookMyShow movie ticket offer on select credit cards.

Q4. Are ICICI reward points still available on other spends?
Yes, customers will continue to earn reward points on transport and insurance-related expenses.

Q5. What is the new HDFC Infinia reward redemption limit?
HDFC now allows reward points redemption only five times per month on the Infinia Metal Credit Card.

Q6. Has HDFC reduced reward earning rates?
No, the earning structure remains the same; only the redemption frequency is limited.

Q7. Why is PNB asking customers to update KYC?
PNB requires KYC updates to comply with RBI guidelines and maintain secure banking operations.

Q8. What happens if PNB KYC is not updated on time?
Your account may face restrictions such as limited withdrawals, blocked transactions, or temporary suspension.