According to reporting by ET Now, banks will be closed for four days. This includes SBI, HDFC, ICICI and PNB. The closures fall between October 26 and November 1. The exact days can differ by state.
For you, this means branch work like cash deposits, cheque clearing and passbook updates may wait. Online banking and UPI should keep working. Plan any branch visit before the break.
Key takeaways
- Four bank closure days fall between October 26 and November 1, as reported by ET Now.
- Which days your branch shuts depends on your state.
- Online banking, UPI and ATMs usually work as normal.
- Cheques and cash deposits can get delayed.
- Keep enough money in your account for EMI auto-debits.
Why banks close on some days
Bank holidays come from a mix of Sundays, second and fourth Saturdays, and festival or state holidays. The Reserve Bank of India publishes a holiday list each year. Some holidays apply to the whole country. Others apply only to certain states.
That's why a headline can say four days while your own branch is shut for fewer. ET Now's report covers the week as a whole. Your local list is what matters.
What changes for you this week
Anything that needs a human at a branch can slow down. Think of cheque deposits, demand drafts, locker visits and account opening. Cash deposit machines and ATMs still work, but they can run low on cash over a long break.
Digital payments are different. UPI, IMPS and net banking run all day. NEFT also runs round the clock these days, so transfers should go through.
Here's a simple worked example. Say you have a ₹5 lakh loan at 12% a year. Your EMI date falls on a closed day. Interest for one extra day is about ₹500,000 x 12% / 365, which is roughly ₹164. The bigger risk is a flat late fee, which depends on your lender.
| Loan balance | Rate a year | Interest for 1 extra day |
|---|---|---|
| ₹1,00,000 | 12% | about ₹33 |
| ₹5,00,000 | 12% | about ₹164 |
| ₹10,00,000 | 12% | about ₹329 |
These are only rough numbers. Your lender's late fee rules decide the real cost.
Who is affected
Small shop owners who deposit cash daily will feel it most. So will anyone waiting on a cheque to clear. People paying a loan EMI by cheque or in person are also at risk.
Salaried people who use apps for everything will notice very little. If you're unsure about your loan, use our EMI calculator to see what a delay might cost. You can also read more on personal loan terms.
What to do now
A little planning before October 26 saves a lot of stress. Use this checklist:
- Check your state's bank holiday list on your bank's website.
- Deposit cash and cheques before the break starts.
- Withdraw the cash you'll need for the week.
- Keep enough balance for EMIs and auto-debits.
- Pay bills early through UPI or net banking.
If an EMI falls inside the break, many lenders debit it on the next working day. Don't count on that, though. Pay a day early if you can. For more updates, visit our news hub.
Frequently asked questions
Will UPI and net banking work on bank holidays?
Yes, usually they do. UPI, IMPS and net banking run all day, even when branches are shut.
Will I be charged a late fee if my EMI date is a holiday?
It depends on your lender. Many take the EMI on the next working day, but check your loan terms. Paying a day early is the safest choice.
Are banks closed in every state for all four days?
Not always. Some holidays apply to the whole country. Check your state's list before you plan.
BankCreds analysis
Less scary than it sounds
Four closed days sound big. For most people, it's a small nuisance. Your salary, UPI and card payments will work as usual.
The real cost shows up in a few cases. A cheque stuck over the break can delay a payment by days. A missed EMI date can add a late fee.
Take a ₹5 lakh loan at 12% a year. One extra day of delay costs about ₹164 in interest. That's small. A flat late fee from your lender can cost more, so check it.
The closures also don't mean every bank shuts on every day. Holidays differ by state, so your city may see fewer closed days than the headline suggests. Check your own state's list before you panic.
The smart move is simple. Pull cash and clear big cheques early, and keep your account topped up for auto-debits.
This section is BankCreds' own assessment of what the development means for Indian borrowers and savers. It is independent commentary, not part of the source reporting above.
Sources & references
- ET Now — originating report https://www.etnownews.com/personal-finance/bank-holidays-this-week-sbi-hdfc-icici-pnb-and-other-banks-closed-for-four-days-from-october-26-to-november-1-check-full-list-here-article-156399905
- Reserve Bank of India — bank holidays are notified by the central bank and differ by state https://www.rbi.org.in/
Source links are shown as plain text, not clickable links. Copy a URL into your browser to read the original report.
Editorial note & disclaimer
How this was reported. The development above is attributed to the source or sources listed. BankCreds does not independently verify a third party's reporting; where a figure or a regulatory position is stated as fact, it is either attributed or drawn from the regulator's own published material. Everything under "BankCreds analysis" is our own assessment.
Rates and figures. Interest rates, per-gram values and premium bands quoted here are indicative, move daily, and differ by borrower profile, city and lender policy. Confirm the final number with the institution before you act on it — the sanction letter or policy schedule governs, not a news report.
Not financial advice. This article is general information for an Indian audience. It is not investment, tax, credit or insurance advice, takes no account of your circumstances, and BankCreds is not a lender, broker, distributor or advisor. Consider speaking to a SEBI-registered investment adviser or a qualified professional before acting.
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