Household Expenses / FD Rates, LPG Prices, ATM Charges: What Changes October 1 Brings
Key Points
From October 1, LPG prices, SBI ATM charges, aviation fuel costs, electronics rates, and FD interest rules will change, directly impacting household budgets, travel expenses, and consumer spending across India.
Bhubaneswar, Sep 30: As September ends, October 1 will usher in significant changes in rules and prices across India, directly affecting household budgets, banking transactions, and consumer spending.
From LPG cylinder rates to ATM withdrawal charges, aviation fuel prices, and electronics costs, several updates are set to take effect.
LPG Cylinder Price Revision
Oil marketing companies revise LPG cylinder prices on the first of every month. On October 1, rates for both commercial (19 kg) and domestic (14.2 kg) cylinders may change.
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While domestic cylinder prices have remained relatively stable, commercial cylinder rates have seen frequent fluctuations.
Additionally, LPG customers must complete Aadhaar biometric authentication or e‑KYC to continue receiving subsidies. Discussions are also underway to introduce OTP‑based verification at delivery, making the process more secure.
ATF Price Adjustment
Alongside LPG, aviation turbine fuel (ATF) prices are revised monthly. Any change will directly impact air travel costs. Current ATF rates stand at ₹1,04,927 per kilolitre in Delhi, ₹1,09,450 in Kolkata, ₹98,247 in Mumbai, and ₹1,09,873 in Chennai.
SBI ATM Withdrawal Charges
State Bank of India customers may face higher ATM charges. BSBD account holders will get four free withdrawals per month; beyond that, each withdrawal will cost ₹15 plus GST.
Salary account holders may see their free monthly ATM transactions reduced from 10 to 5. Exceeding the limit could mean ₹23 plus GST per financial transaction and ₹11 plus GST for non‑financial transactions.
Electronics Prices to Rise
Consumers planning festive purchases of TVs, refrigerators, or air conditioners may need to stretch their budgets. Rising costs of raw materials like copper, steel, aluminum, and crude oil, coupled with higher transport expenses, are expected to push electronics prices up by as much as 8 percent, according to PTI reports.
FD Interest Rate Rules
Banks will now be required to update fixed deposit (FD)
interest rates daily by 10 AM. Websites must clearly display FD rates and
related details, ensuring transparency for customers.
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