Changes in HDFC Bank rules

If you spend more than Rs 10,000 per month on gaming apps like MPL, Dream 11 using an HDFC Bank credit card, you will have to pay a one percent surcharge on it. Similarly, if you deposit more than Rs 10,000 in a month on third-party wallets like Mobikwik, Paytm, Ola Money and Freecharge, then a one percent surcharge will also be levied on that. If you spend more than Rs 15,000 on fuel, then an additional one percent surcharge will be levied. Apart from this, if you pay more than Rs 50,000 on electricity, water and gas, then a one percent surcharge will also be levied on that.

Changes in ICICI Bank rules

Another major private sector bank, ICICI Bank, has changed some charges on IMPS and ATM. After this, if you now use any other bank, you will have to pay some additional charges on it.

This means that in metro cities, you will get three free transactions every month. While in smaller cities, you will get five free transactions. After this, where earlier you used to pay Rs 21 to withdraw money, now you will have to pay Rs 23 as a charge. Whereas if you just check the balance or do non-financial work, you will have to pay Rs 8.5 per transaction.

Apart from this, now you will have to pay charges according to your transaction for sending money through IMPS i.e. instant service like, Rs 2.5 per transaction for Rs 1 thousand, while Rs 5 per transaction for Rs 1 thousand to 1 lakh. While Rs 15 per transaction will have to be paid for Rs 1 lakh to 5 lakh.

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In today’s era of rising inflation, it is important to explain to children the importance of money and savings. Along with this, it is also necessary to introduce them to banking. After developing an understanding, the sooner the children learn all these things, the better it will be for them. In this episode, many parents often have a question whether a bank account can be opened for 10-year-old children? Can children aged 10 years take advantage of banking services? What rules have been made regarding this? In this episode, let us know what are the RBI rules regarding opening an account for children aged 10 years?

The post Banking Rules: Can a bank account be opened for 10 year old children? Know what the rule says first appeared on Rightsofemployees.com.

For example, many banks

are going to change savings account and fixed deposit (FD) interest rates. Now the interest rates will be decided based on the amount deposited in the account. Customers holding a large amount are likely to get higher interest.

Changes related to credit cards

SBI, IDFC First Bank are changing their credit card policies. SBI card reward points are going to be reduced on some transactions. SimplyClick SBI cardholders can now get 5X reward points on Swiggy. Earlier it was 10X. Air India SBI Credit Card 4 Air India SBI Platinum Credit Card will now offer 5 reward points for every Rs 100 spent on Air India ticket bookings. Currently you get 15 reward points. Similarly, Air India SBI Signature Credit Card users will get 10 points for every Rs 100 spent, up from 30 points at present.

As for IDFC First Bank credit cards, milestone rewards for Club Vistara credit card holders will be discontinued from March 31. Club Vistara Silver membership will no longer be available. Apart from this, complimentary vouchers like premium economy tickets and class upgrade vouchers will also be discontinued. The bank will waive the annual fee for one year for customers renewing their credit cards from March 31. But major travel benefits will not be available.

New rule for urban cooperative banks

From April 1, urban cooperative banks will have to allocate 60 percent of their loans to priority sectors. In addition, more women will be eligible for loans.

These UPI accounts will be closed

UPI IDs associated with mobile numbers registered with the bank that have not been active for a long time will be deactivated. You will be able to access UPI services from such numbers only after the mobile number is reactivated. As per the guidelines of the Department of Telecommunications (DoT), if your mobile number has been cancelled or surrendered, banks or UPI apps can remove it from their records. NPCI said that several technical issues and cases of fraud are increasing due to cancelled/surrendered mobile numbers.

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The post Banking rules are going to change from April 1, know how it will affect you? first appeared on Rightsofemployees.com.