Starting from May 1, 2024, there will be some changes in banking rules that might affect people’s finances. Here’s what you need to know:
1) HDFC Bank has extended the deadline for its Special Senior Care FD until May 10. Senior citizens can benefit from an additional 0.75 percent interest rate on this 5 to 10 year FD.
2) ICICI Bank has updated various charges related to its savings accounts, including fees for debit cards, checkbooks, and IMPS transactions. These new charges will apply from May 1, 2024.
3) Yes Bank has also revised its savings account charges, effective from May 1, 2024.
4) Changes are also coming to Yes Bank’s private credit card rules. From May 1, 2024, there will be a 1 percent GST on utility bill payments exceeding Rs 15,000 using the bank’s private credit card.
5) IDFC First Bank has updated its credit card rules too. Customers will now pay an additional 1 percent GST on utility bill payments exceeding Rs 20,000 with the bank’s credit card, on top of the existing 18 percent GST.
6) Keep an eye out for possible changes in LPG gas cylinder prices on May 1 as well.
