If you’re short on immediate funds but need to pay your income tax, using a credit card can be a convenient option. The Income Tax Department allows taxpayers to pay certain tax liabilities online through its e-filing portal, including payments made via authorized credit card payment gateways.

However, while the facility offers flexibility, taxpayers should understand the associated charges and repayment rules before choosing this payment method.

Recent Posts

• UPI Transaction Charges Coming Soon? RBI Governor Says ‘Costs Have to Be Paid by Someone’
• Parliament Monsoon Session 2026: Lok Sabha Passes Bill to Increase Supreme Court Judges’ Strength
• Amazon Great Freedom Sale 2026: Early Fashion Deals Live on Levi’s, U.S. Polo Assn. & Arrow
• Kerala Floods: Death Toll Rises to 15, Seven Missing; Over 11,000 Moved to Relief Camps
• Apple Could Launch AirPods With Built-In Cameras Alongside iPhone 18 Pro Next Month: Report

Can You Pay Income Tax Using a Credit Card?

Yes.

The Income Tax Department permits taxpayers to pay various direct taxes online using a credit card through its e-Pay Tax facility.

The option is available for payments such as:

• Advance Tax
• Self-Assessment Tax
• Outstanding Tax Demand
• Other eligible direct tax payments

The payment can be made through authorized payment gateways that support credit card transactions.

What Is the e-Pay Tax Facility?

The e-Pay Tax facility is an online service available on the Income Tax Department’s e-filing portal that allows taxpayers to pay taxes electronically.

The service is available in:

• Post-login mode (after signing into the e-filing portal)
• Pre-login mode (using PAN/TAN verification through OTP)

Besides credit cards, taxpayers can also make payments using:

• Debit Cards
• Net Banking
• UPI

Once a payment mode is selected, users are redirected to the respective payment gateway to complete the transaction.

How to Pay Income Tax Using a Credit Card

Follow these steps after logging into the Income Tax e-filing portal:

Step 1

Go to:

Dashboard → e-File → e-Pay Tax

Select the appropriate option and click Continue.

Step 2

On the e-Pay Tax page, click New Payment.

Step 3

Choose the relevant tax payment category, assessment year, minor head and other required details before clicking Continue.

Step 4

Enter the applicable tax amounts under the relevant tax heads and proceed.

Step 5

Select Credit Card as the payment method and complete the transaction through the payment gateway.

After successful payment, download and save the challan receipt for future reference.

Are There Any Charges?

Yes.

Paying income tax through a credit card is generally not free.

Banks and payment gateways may charge a convenience or processing fee, typically ranging from:

• 0.85% to 1.25% of the tax amount

The exact fee depends on the bank or payment gateway handling the transaction.

Will You Pay Interest?

Not necessarily.

The tax payment is treated like any other credit card purchase.

Interest is charged only if:

• You fail to pay the full credit card bill by the due date, or
• You carry forward the outstanding balance.

Most credit cards offer an interest-free period of around 45 to 55 days, allowing users to manage short-term cash flow without paying finance charges if the bill is cleared in full within the billing cycle.

Are There Any Benefits?

If the credit card bill is paid on time, taxpayers may enjoy several advantages, including:

• Better short-term cash flow management
• Reward points
• Cashback (if applicable)
• Interest-free credit during the billing cycle

However, these benefits should be weighed against the processing fee charged by the payment gateway.

Things to Keep in Mind

Before using a credit card to pay taxes, remember:

• Convenience or processing charges may apply.
• Clear the full credit card bill before the due date to avoid high interest charges.
• Keep the tax payment challan safely for future reference.
• Compare the processing fee with the rewards or cashback offered by your card to determine whether it is cost-effective.

Key Highlights

• Income tax can be paid using a credit card through the Income Tax Department’s e-filing portal.
• The facility supports advance tax, self-assessment tax and outstanding tax payments.
• Payments can be made in both pre-login and post-login modes.
• Banks and payment gateways may charge a convenience fee of 0.85% to 1.25%.
• Interest is charged only if the credit card bill is not paid in full by the due date.
• Most cards offer an interest-free period of 45–55 days.
• Taxpayers should download the challan after successful payment.

FAQs

Can I pay income tax using a credit card?

Yes. The Income Tax Department allows taxpayers to pay eligible taxes using a credit card through the e-Pay Tax facility on the e-filing portal.

Which taxes can be paid using a credit card?

Eligible payments include advance tax, self-assessment tax, outstanding tax demands and other applicable direct taxes.

Is there any fee for paying income tax by credit card?

Yes. Banks or payment gateways may charge a convenience or processing fee, typically between 0.85% and 1.25% of the transaction amount.

Will I be charged interest immediately?

No. Interest is charged only if you do not pay your full credit card bill by the due date.

Can I earn reward points when paying income tax with a credit card?

Yes. Depending on your card issuer’s policy, the transaction may qualify for reward points or cashback, though taxpayers should compare these benefits with the applicable processing charges.

Recent Posts

• UPI Transaction Charges Coming Soon? RBI Governor Says ‘Costs Have to Be Paid by Someone’
• Parliament Monsoon Session 2026: Lok Sabha Passes Bill to Increase Supreme Court Judges’ Strength
• Amazon Great Freedom Sale 2026: Early Fashion Deals Live on Levi’s, U.S. Polo Assn. & Arrow
• Kerala Floods: Death Toll Rises to 15, Seven Missing; Over 11,000 Moved to Relief Camps
• Apple Could Launch AirPods With Built-In Cameras Alongside iPhone 18 Pro Next Month: Report

The post Can You Pay Income Tax Using a Credit Card? Here’s the Payment Process, Charges and Key Things to Know first appeared on Rightsofemployees.com.

RuPay Credit Card UPI Payment Charges: If you also make payments by linking your credit card to UPI while shopping, then this news is very important for you. Many people are still confused about whether there will be any additional charges for making payments using this method. Let’s find out.

What are NPCI’s rules?

According to the National Payments Corporation of India, if anyone makes a UPI payment of up to ₹2000 using a RuPay credit card, there are no charges. Simply put, if you buy goods worth up to ₹2000 at a store and pay using UPI, there will be no impact on your pocket.

However, if your payment exceeds Rs 2,000, you may be subject to a Merchant Discount Rate (MDR). Although this charge is levied on the merchant, it is often passed on to the customer.

Where does the MDR charge apply?
The MDR charge will currently apply to large merchants and branded stores. Small shopkeepers, local vendors, and grocery stores are exempt. This means that small purchases by the average person will not be affected.

If you have a RuPay credit card, you can link it to your UPI app (such as PhonePe, Google Pay, Paytm). Once linked, you can make payments directly from the credit card by scanning the QR code. This is similar to a debit card.

Tips for Using Credit Cards

• Make full payments on the monthly billing date to avoid interest and late fees.
• Timely payments and proper utilization of your limit improve your score.
• Activate auto-debit from your bank to ensure timely payments.
• EMIs seem convenient, but use them only after understanding the interest and charges.
• If you have multiple cards, keep track of their limits, due dates, and offers.

GST Registration New Rule : Now GST registration will be available in just 3 days, know who will benefit

The post Credit Card UPI Payment Charges: Will there be no charges for UPI using a credit card? Learn NPCI’s guidelines. first appeared on Rightsofemployees.com.

If you are repeatedly spending from your card and taking money from friends, then these transactions can be seen as income. Especially when the amount is big or the transactions are happening repeatedly, then the Income Tax Department can inquire why this money came and whether it is your income.

Example: Suppose Rahul bought a laptop worth ₹ 75,000 online for his friend Ajay using his credit card. Ajay transferred ₹ 75,000 to Rahul via UPI the next day. Now if this happens once or twice then there is no problem. But if Rahul repeatedly spends from his card for Ajay or other friends and then they receive money via UPI or bank transfer, then the Income Tax Department may feel that Rahul is receiving this money as income.

What do the rules say?
If a credit card expenditure of ₹ 10 lakh or more is made in a financial year , then the bank has to give this information to the Income Tax Department. Paying credit card bills above ₹ 1 lakh in cash is also a cause of suspicion for the department. If you take money in cash from friends or transfer it without any documents, then you may also be charged a penalty. Therefore, it is important that every transaction is done through banking channels like UPI, NEFT or IMPS.

Tax experts say that occasional favor usually does not have any tax implication. But if it becomes a habit or the amount is large, then the income tax department can take it seriously.

How to protect yourself?

• Keep banking records of every transaction
• Avoid cash transactions, do only UPI or bank transfer
• Do not do this repeatedly, otherwise it can be considered a business activity
• If the amount is large, make a written consent or agreement

School Closed: Schools up to 12th standard are closed in this district of UP even today, colleges closed due to floods and rain

The post Tax Rules For Credit Card : Helping friends with credit card? Income tax notice may come home, know how to avoid it first appeared on Rightsofemployees.com.

Aadhaar is now mandatory for getting PAN card

From July 1, Aadhaar card has become mandatory for making a new PAN card. Earlier, documents like driving license or birth certificate could also be used for making PAN, but now only Aadhaar will be accepted. Those who already have PAN but it is not linked to Aadhaar have time till December 31. If this is not done then the PAN will become inactive, which will affect every work from paying tax to banking.

Aadhaar hold on Tatkal train tickets

Now, even the Tatkal coach of the railways will not be available without Aadhaar. Aadhaar verification has been made mandatory for booking Tatkal tickets. Also, from July 15, two-factor OTP verification will be applicable in ticket booking both online and at the counter. That is, the OTP received on the registered mobile will have to be entered. Another big news is that the railways is considering increasing the fare. There may be an increase of 1 paisa per km for non-AC coaches and 2 paisa per km for AC.

Extra time given to file income tax return

Relief news for tax payers. The Income Tax Department has extended the last date for filing ITR from 31 July to 15 September. This means that salaried people have now got 46 days extra time to file their returns. Tax experts advise to file ITR early to avoid last minute rush and technical difficulties.

Credit card charges increased, facilities changed

Big banks like SBI, HDFC and ICICI are now imposing new rules on your credit card.

For SBI card holders: The air accident insurance facility available on premium cards like SBI Elite and Miles will now be discontinued. Also, the method of calculating the minimum outstanding amount (MAD) every month will also change.

HDFC Bank’s new charges: 1% charge will now be levied on paying rent, spending more than Rs 10,000 on online gaming, paying utility bills above Rs 50,000 excluding insurance, and adding Rs 10,000+ in one go to digital wallet (up to a maximum of Rs 4,999).

ATM withdrawal charges hike: First 5 withdrawals are free at ICICI Bank’s own ATMs, then a charge of Rs 23. After 3 free transactions in metros and 5 free transactions in non-metros, Rs 23 will be charged for cash withdrawal and Rs 8.50 for balance check at other bank’s ATMs.

Foreign ATM: Rs 125 + 3.5% foreign currency charge on cash withdrawal. IMPS transfer: Rs 2.5 to Rs 15 (depending on the amount).

Cash deposit: First 3 deposits at cash recycler machine are free, thereafter Rs 150 per transaction. Deposits above Rs 1 lakh in a month will be charged Rs 150 or Rs 3.5 per Rs 1,000 (whichever is higher).

Most Read Articles:-

• Train Ticket Price Hike: Railways has implemented the increased fare on tickets from today, check here

• Small Saving Interest Rate: Govt announced interest on small saving schemes, check new rate immediately

• LPG Cylinder Price Cut: LPG cylinder became cheaper on July 1, government reduced the price by Rs 58

• 8th Pay Commission will it be implemented from January 1 How much will the salary increase

• Credit Card Rule: Big change in rules related to credit card, increase in fees and reduction in facilities

The post New Rule Today: Many rules related to railway ticket booking, PAN, ITR, credit card have changed from July 1 today first appeared on Rightsofemployees.com.

Most importantly, the air travel accident insurance coverage of Rs 1 crore that comes with the credit card is being removed.

If you use a credit card, then it is important for you to know and understand the new rules. SBI and HDFC along with other major banks have made major changes in the rules related to credit cards, which will come into effect from different dates in July and August. Most importantly, the air travel accident insurance coverage of Rs 1 crore that comes with the credit card is being removed.

Under the new rules, banks have reduced the facilities provided with credit cards. Along with this, many types of fees have been increased or new charges have been added for making purchases through credit cards. Rules related to reward points have also been changed and a provision has been made to charge a fee for spending after a limit. Under the new rules, the burden on the pockets of people using credit cards will increase.

HDFC’s new rules from July 1

A one per cent fee will be charged for spending more than Rs 50,000 using a consumer card.

A one percent fee will be charged for monthly expenditure of more than Rs 75,000 using the business card.

The limit of reward points has also been fixed.

Third-party wallets like Paytm, Mobikwik, Freecharge, Ola Money will attract a 1 per cent fee for monthly loading above Rs 10,000, up to a maximum of Rs 4,999.

Now a one per cent fee will be levied on online skill-based gaming.

A one per cent fee will be levied for spending more than Rs 10,000 per month on playing games on the online platform.

One percent fee will also be levied on wallet loading.

Free air accident insurance on SBI stopped, new rules from July 15

The free air accident insurance of Rs 1 crore offered by SBI on premium credit cards like Elite, Miles Elite, Miles Prime will be discontinued.

The insurance coverage of Rs 50 lakh given to customers on Prime and Pulse credit cards will also be discontinued.

There has also been a change in the calculation of the minimum amount payable.

Now, the bill will also include GST , EMI, fees, finance charges, over limit amount and 2% of the remaining outstanding amount.

The order of payments will also change. From July 15, GST will be applicable on the order of payments like EMI, fees, finance charges, balance transfer, retail spend and cash advance.

Accident insurance will also be discontinued on these cards from August 11
Air accident insurance of Rs 1 crore and Rs 5 lakh on UCO Bank SBI Card Elite, Central Bank of India SBI Card Elite, PSB SBI Card Elite, KVB SBI Card Elite, KVB SBI Signature Card and Allahabad Bank SBI Card Elite cards will be discontinued from August 11.

Other banks will change the rules soon

The impact of the changes made by the largest public sector bank SBI and the leading private sector bank HDFC in the rules related to credit cards will be seen on other banks as well. It is expected that other banks will also soon change the rules related to credit cards and remove some facilities and may also make a provision for levying additional charges.

Most Read Articles:-

• Weather Alert: Heavy rain warning in 22 states of the country, know the condition of your state

• Bank Holiday: All banks will remain closed today, know why RBI has declared a holiday

• School Closed: Due to heavy rains, schools from class 1 to 12 are once again closed

• Train Cancelled List: Railways has cancelled trains on this route for two weeks, check the list

• Top 10 Safest Full-Service Airlines for 2025

The post Credit Card Rule: Big change in rules related to credit card, increase in fees and reduction in facilities first appeared on Rightsofemployees.com.

PhonePe HDFC Bank co-branded RuPay credit card is designed to meet the emerging financial needs of Indian consumers. It also offers benefits especially on UPI spending on the PhonePe platform.

Sonika Chandra, Chief Business Officer, Consumer Payments, PhonePe, said, “We are excited to launch our first co-branded credit card in partnership with HDFC Bank. This launch underlines our commitment to provide innovative financial solutions to our users. This card is designed to provide value to PhonePe customers on their regular spends, giving them 10 percent reward points on select categories such as bill payments, recharges and travel bookings.”

Also used with UPI merchants

This card will be easily used at crores of UPI merchants across the country. He said, “We are confident that our strategic partnership with HDFC Bank, combined with the benefits offered by this card, will redefine the credit card experience for millions of Indians.”

The strategic partnership between HDFC Bank and PhonePe also leverages their respective banking and fintech backgrounds to make the credit card accessible and user-friendly. These cards are available in ‘Ultimo’ and ‘UNO’ variants.

These will offer reward points across popular categories like recharges, bill payments, travel, online shopping, groceries and cabs. These cards also work seamlessly with UPI, allowing users to pay for their daily expenses through credit cards, as well as earn reward points on the card through a large merchant network on UPI QR.

What did HDFC Bank say?

Parag Rao, Country Head, Payments, Liability Products, Consumer Finance and Marketing, HDFC Bank said, “As India’s largest card issuer, we constantly strive to create effective and customized offerings for our customers. Our aim is to make credit accessible to as many people as possible. In collaboration with PhonePe, this card will make it accessible to more digitally active and technology-savvy consumers. This will make credit card usage even more profitable and accessible across multiple platforms, especially through UPI. UPI has now become a very important part of India’s digital payment ecosystem.”

Airport lounge facility is also available

The ‘Ultimo’ variant offers customers significant reward points, including 10% reward points on spending on PhonePe app, bill payments, recharges, travel bookings and Pincode app (PhonePe’s local delivery app), and 5% reward points on major online merchants. Users will also get 1 percent reward points on all UPI scan and payment transactions using the card and domestic airport lounge access twice every quarter.

The company said that eligible PhonePe users can apply for this credit card directly through the PhonePe app. The entire process will be digital. After the card is issued by HDFC Bank, customers can link it to PhonePe and make payments through UPI and also pay their card bill here. The company said that the card will be rolled out to eligible PhonePe users in a phased manner.

Most Read Articles:-

• FD Rates 2025: These 5 banks are giving strong returns of up to 9% on fixed deposits, check the list

• New Rule From 1st July: Many rules related to banking and tax will change from July 1, check details

• Heavy rain alert: Alert issued for 12 districts of this state today, people advised to remain cautious

• EPFO New Rule: New PF rule for everyone, rules for claiming money have changed

• PPF Interest Rate: Will the govt reduce the interest on PPF from 7.1% to 6.50%? read full details

The post PhonePe launched credit card, can be used in UPI also, know full details first appeared on Rightsofemployees.com.

This card is useful in times of need but it also brings with it the burden of debt. Once you get addicted to credit cards, it becomes difficult to get rid of it but have you ever thought that if the credit card user suddenly dies, then who will pay his outstanding debt? Come, let us tell you what the law says in this situation and how the rules of banks work.

Credit Card: Necessity or Habit?

A credit card is a plastic card that looks similar to a debit card. You withdraw money from your bank account using a debit card, but you spend money borrowed from the bank using a credit card. You have to repay this loan later. In today’s era, everything from shopping, bill payment, and traveling has become easy with a credit card, but if it is not used carefully, it can trap you in a debt trap.

However, in difficult times, a credit card is no less than a lifesaver. Banks and credit card companies give you a grace period, that is, if you pay the entire dues by the last date of bill payment, then no interest is charged, but if you miss the grace period, then you may have to pay a huge interest on a small loan. This is the reason why it is very important to use credit cards wisely.

What happens to the debt after death?

Most credit cards fall under the category of unsecured loans. This means that the bank gives you this card on the basis of your income, credit score and previous loan repayment record. For this, you do not have to keep any guarantee or collateral (like property or jewelry). But the question is, what will happen to the loan if the unsecured credit card holder dies?

According to the law, if a credit card user dies, his debt usually ends. That is, this burden is not put on the family members. The responsibility of paying the credit card dues lies only with the cardholder. However, the bank first tries to recover the dues from the deceased’s estate. If there is any property, bank balance, or investment in the name of the deceased, then the bank can legally withdraw its money from it.

But if there is no property or money in the name of the deceased, then the last option available to the bank is to write off the loan. That is, the bank bears that loss itself. In such a situation, the family members need not worry, because the loan of unsecured credit card does not fall on them.

Rules are different for secured credit cards

In such a case, the case of secured credit card is a little different. This card is given to those people whose credit score is low or whose income is not stable. In such a case, the bank asks for some guarantee before giving a secured credit card, such as fixed deposit (FD). If the cardholder dies, the bank first recovers the outstanding loan from his FD. If there is more money in the FD than the outstanding amount, then the remaining amount is returned to the heir of the deceased.

In a secured credit card, the loan is not waived off because the bank has already taken a guarantee of its money. So if you are taking a secured credit card, then keep in mind that your FD is the security for the bank.

Take these precautions while using credit card

Using a credit card is as easy as it can be risky. If you keep some things in mind, you can avoid the debt trap.

1. Pay the bill on time

It is most important to pay the credit card bill on time. If there is a delay, not only the interest increases, but your credit score can also deteriorate. This may cause you problems in getting a loan from the bank at the time of need.

2. Do not pay only the minimum amount

Many people think that just by paying the minimum due amount, the work will be done. But by doing this, the loan gets prolonged and the burden of interest keeps increasing. Try to pay the entire dues in one go.

3. Keep an eye on your credit limit

Avoid spending close to or more than the credit card limit. This can spoil your CIBIL score, which affects your chances of taking a loan in the future.

4. Avoid withdrawing cash

Withdrawing cash from a credit card can be costly. Interest starts accruing on it immediately and additional charges are also levied.

5. Don’t convert every purchase into EMI

By choosing EMI repeatedly, the burden of debt gradually increases. Choose the EMI option only for important and big purchases.

6. Don’t get carried away with reward points

Spending too much in greed for reward points and offers can spoil your budget. Buy only what you need.

7. Do not keep too many cards

There is a risk of forgetting payment and due date by keeping many credit cards without need. Also, one has to pay annual charges for each card.

8. Be sure to check the statement

Do not make payment without reading the statement. This can help you avoid wrong charges or fraud. Check your credit card statement carefully every month.

Most Read Articles:-

• UPS vs NPS Deadline extended – Now central employees will get additional time to switch from NPS to UPS
• Income Tax On High-Value Transactions: How To Avoid Tax Notices?
• ICICI Bank revises charges on ATM transactions, cash deposits, cash withdrawals, IMPS and more
• Bank Holiday: Banks will be closed for three consecutive days this week, check the list soon.
• New GST Rule: From July 1, the time limit for filing GST returns will now be 3 years

The post What happens if a credit card holder dies without paying in India first appeared on Rightsofemployees.com.

Online Gaming

Customers who spend more than Rs 10,000 every month on online skill-based gaming platforms like Dream11, Rummy Culture or MPL will have to pay a 1% fee. This charge will be applicable on the total monthly gaming expenditure and its limit will be Rs 4,999. The bank said that reward points will not be given on these transactions.

Credit card users who load more than Rs 10,000 every month in third-party wallets like Paytm or Mobikwik will also be charged a 1% fee. This charge will be applicable on the total wallet-loading amount and its limit will also be maximum Rs 4,999.

Utility Payments

If more than Rs 50,000 is spent every month through consumer card or Rs 75,000 through business card, then 1% fee will be levied on utility payments. This charge will be applicable on the entire utility expenditure and its maximum limit will be Rs 4,999. The bank said that insurance payments will not be considered utility transactions.

Meanwhile, the limit of charges on rent, fuel and education payments has also been changed. However, the 1% charge will remain, but the maximum charge per transaction will be Rs 4,999. The charge for fuel will be applicable only when the transaction amount is more than Rs 15,000 or Rs 30,000. This charge for education will be applicable only when the payment is made through a third party app. This charge will not be applicable on payments made directly to schools or colleges.

Insurance

The limit of reward points will be fixed on insurance transactions. Up to 10,000 points will be available every month on Infinia and Infinia Metal cards. There will be a limit of 5,000 points on Diners Black and Bizz Black Metal. Most other cards will have a limit of 2,000 points. There will be no limit on insurance reward points on the Marriott Bonvoy card. HDFC Bank has said that GST will be applicable on all charges.

The post New Rules: This big rule related to credit card is changing from July 1, it may have a direct impact on you first appeared on Rightsofemployees.com.

Let us know 6 effective ways with the help of which you can identify the problem related to your credit card and prevent your loss.

First understand the problem

When you question a transaction, first determine if it’s really incorrect. Incorrect charging can occur for a variety of reasons, including repeated transactions, use without your permission, a merchant billing error, a charge for a subscription you canceled, or the wrong amount. Merchants sometimes bill differently, so check your email, app history, or receipt to identify the error.

Note down all the important information

It is important to keep the correct details of the transaction. Such as transaction ID, date, amount, merchant name and record of the conversation with the merchant. Also keep screenshots of emails or bank statements so that they can serve as your proof if needed.

Talk to the merchant first

Often the dispute is resolved by talking to the merchant directly. If there has been a double charge by mistake, they can correct it without the bank getting involved. After talking on the phone, be sure to confirm the conversation by email so that you have proof.

Then inform the bank

If the merchant does not resolve the issue, inform your bank or credit card issuer immediately. Most banks offer the facility to lodge a dispute through mobile app, internet banking, phone or email. Keep in mind that the complaint has to be made within 30 to 60 days, so do not delay.

Is it necessary to fill the complaint form?

Some banks require you to fill out an official form to initiate a dispute, in which you give full details of your problem. Sign it and send it to the bank and keep a copy.

Keep an eye on the process

Usually banks resolve disputes within 7 to 30 days. During this time, they can temporarily stop deducting your money from your account or can also give you temporary credit. The bank will keep informing you through phone, email or message. If the decision comes in your favor, then the money will be refunded.

Know your rights

According to the rules of the Reserve Bank of India (RBI), if you complain on time, then you are not responsible for any fraudulent transaction. In this case, the bank compensates for your loss. You can challenge any transaction done without your permission. If you do not get a satisfactory answer from the bank, then you can also complain to the banking ombudsman.

If you notice any mistake in the use of credit card, take action quickly. Filing a dispute is not just a way to correct the mistake, but also to protect your money and rights. By taking the right steps at the right time, you can keep both your financial security and credit history intact.

The post Credit Card Charges: Wrong charge deducted from your credit card? Know 6 effective ways to get your money back quickly first appeared on Rightsofemployees.com.

Credit Card Charge Hike: The trend of debit card and credit card has increased rapidly in the country. But now using credit card can be expensive. In fact, major private banks like HDFC Bank and ICICI Bank have decided to increase the charges on credit card and banking services from July 1. Both the banks have sent information about these changes to their customers through official notification. HDFC Bank has announced new charges for credit card users, especially for transactions related to online gaming, digital wallet and utility payments.

HDFC Bank has implemented new charges especially for online gaming, digital wallet loading and utility bill payments. If a customer spends more than Rs 10,000 on online gaming platforms like Dream11, MPL, RummyCulture in any month, an additional charge of 1% will be levied on that entire amount. This charge will be limited to a maximum of Rs 4,999 per month. No reward points will be given on online skill based gaming transactions. However, HDFC Bank has clarified that the insurance payment will not be considered as a utility payment. Hence, no additional charges will be levied in such cases.

ICICI Bank

Similarly, ICICI Bank has revised the fees for issuing DD (demand draft), PO (pay order), ATM interchange and transaction, cash transaction and debit card fees. The fee for depositing cash, cheque and transfer of DD and PO has been revised to Rs 2/1,000. It is minimum Rs 50 and maximum up to Rs 15,000. At the same time, ICICI Bank has also increased the fee for transactions at ATM from Rs 21/transaction to Rs 23/transaction after 5 transactions. Currently it is Rs 21. Apart from this, the annual fee of debit card has been increased from Rs 200 to Rs 300, the fee for replacement card has been increased from Rs 200/card to Rs 300/card.

The post Credit Card: Payment by credit card will be expensive from next month, these banks have increased the charges first appeared on Rightsofemployees.com.

Instead, cardholders will have to spend Rs 50,000 every calendar quarter, only then they will get a lounge voucher. The bank will send this voucher through SMS and email. The voucher has to be claimed within 120 days of receiving it and it can be used in any eligible lounge within 180 days.

The facility of free domestic lounge visits maximum 8 times in a year will continue as before, but now it will be available only maximum 2 times every quarter.

To check eligibility for lounge access, users need to log in to HDFC NetBanking or Mobile Banking app. Select your Tata New Infinity card in the ‘Credit Card’ section and click on ‘Redeem Reward Points’. After this, you can check the spending and eligibility details by going to ‘MyReward’ and ‘Spend Promo Details’.

There is no change in international lounge access. Cardholders will get free international lounge access 4 times a year as before, which will be given under the Priority Pass program. This facility is applicable on both RuPay and Visa versions. However, RuPay cardholders will have to pay an additional fee of $3.25 per visit.

Talking about other benefits of this card, 5% NeuCoins are available on non-EMI purchases made on Tata New Platform and Tata Brands. 1.5% on other purchases and an additional 5% NeuCoins are available on purchases made from Tata New website or app.

This card is also beneficial in terms of security. It includes a lost card cover of Rs 9 lakh, overseas hospital cover of Rs 15 lakh and accidental death cover of Rs 1 crore.

New cardholders get a welcome bonus of 1,499 NeuCoins on making their first transaction within 30 days. Also, if a user spends Rs 3 lakh in a year, his annual fee will be waived off.

A 1% surcharge waiver on fuel is also given in this card, which is applicable on fuel transactions of Rs 400 to Rs 5,000. The maximum discount you can get in a month is up to Rs 500.

The post HDFC Bank changes rules for lounge access for Credit Card, will be applicable from June 10 first appeared on Rightsofemployees.com.

You will get a voucher after spending Rs 50,000

If you spend at least Rs 50,000 in a quarter, you will be eligible for lounge access.

Tata Neu Infinity HDFC Credit Card holders will get 2 free domestic lounge vouchers every quarter i.e. maximum 8 vouchers per year.

Tata Neu Plus HDFC Credit Card holders will get 1 voucher every quarter i.e. maximum 4 per year.

Upon qualifying the eligibility, the customer will be informed via SMS and email. The voucher can be claimed by visiting that link and logging in with the bank-registered mobile number. The voucher must be claimed within 120 days and used within 180 days from the date of issue.

How to check eligibility and expenditure status?

After June 10, 2025, customers will be able to check the status of their expenses and voucher eligibility by visiting HDFC NetBanking or MobileBanking App.

Go to the Credit Card section.

Select Tata Neu card.

Click on Redeem Reward Points.

Then go to MyReward Spend Promo Details and see the information.

If your card is upgraded, lost or reissued, only spends on the new card will count for eligibility.

Existing benefits applicable till 9th ​​June 2025

Tata Neu Infinity cardholders can avail 8 free domestic lounge access every year i.e. 2 per quarter till June 9, 2025, while Tata Neu Plus cardholders can avail 4 free accesses i.e. 1 per quarter. This facility will be available on VISA and RuPay cards at a charge of Rs 2 per entry.

Changes in international lounge access too

From 1 June 2025, Tata Neu Infinity VISA cardholders will be issued Priority Pass for international lounge access only on request. This pass will allow 4 free international visits in a year, 1 per quarter. Thereafter, a fee of US $27 + GST ​​will be charged per visit. The same fee will apply to guest visits through Priority Pass.

The post Credit Card: HDFC Bank changes airport lounge access rules on credit cards first appeared on Rightsofemployees.com.

The new financial year 2025-26 will start tomorrow i.e. from April 1. With the start of the new year, many rules related to mutual funds, credit cards, UPI transactions, income tax and GST will change. These will affect investors, taxpayers and the common people. Therefore, if you are involved in mutual funds, credit cards, UPI transactions or income tax, then it is very important for you to know about these changes in the rules.

The Securities and Exchange Board of India (SEBI) has made changes to certain rules related to investment in mutual funds, which will come into effect from April 1, 2025. Funds raised under new fund offers (NFOs) will now have to be invested within 30 business days. If an asset management company (AMC) is unable to invest within this period, it can get a further extension of 30 days with the approval of the investment committee. If the investment is not made within 60 days, the AMC will be barred from taking fresh investments and investors will be allowed to exit without any penalty.

SEBI has introduced a new category called Specialized Investment Funds (SIFs), which will be a cross between mutual funds and portfolio management services (PMS). A minimum investment of ₹ 10 lakh will be required to invest in it. Only those AMCs whose average assets under management (AUM) has been more than ₹ 10,000 crore in the last three years can launch it.

DigiLocker Facility

From April 1, investors will be able to store and access their demat and mutual fund holding statements digitally in DigiLocker. This will reduce the problem of unclaimed assets and make it easier for the nominee to access the assets.

New tax slabs

The new tax slabs will be applicable from April 1. Under the new tax structure, the government has increased the tax-free income limit from ₹ 7 lakh to ₹ 12 lakh, which will be a big benefit to middle-class taxpayers. The new tax slabs in the new tax system will be as follows:

• Income up to ₹4 lakh – No tax
• ₹4 lakh to ₹8 lakh – 5% tax
• ₹8 lakh to ₹12 lakh – 10% tax
• ₹12 lakh to ₹16 lakh – 15% tax
• ₹16 lakh to ₹20 lakh – 20% tax
• ₹20 lakh to ₹24 lakh – 25% tax
• Income above ₹24 lakh – 30% tax

New GST and e-invoicing rules

From April 1, 2025, businesses with an annual turnover of ₹10 crore or more will be required to upload e-invoices on the invoice registration portal within 30 days. Earlier, this rule was applicable only to businesses with a turnover of more than ₹100 crore.

Unified Pension Scheme to be implemented

Unified Pension Scheme (UPS) will be implemented under the National Pension System (NPS) from April 1, 2025. This scheme will guarantee a fixed pension to central employees. Employees whose service is at least 25 years will get 50% of the average basic pay of the last 12 months as pension.

The post Mutual fund, credit card, income tax and UPI related details will change from tomorrow first appeared on Rightsofemployees.com.

Benefits of Credit Card

• Support for emergency expenses: Credit cards can provide you with immediate financial help when you suddenly need money.
• Debt: If you make your payments on time and stay within your credit limit, it will not affect your debt.
• Reward Points and Rewards: Most credit cards offer you various types of rewards, cashback, discounts and points that you can use in the future.
• Improves credit score: Making timely payments keeps your credit score good, which helps in getting a loan in the future.
• Security: If your credit card is lost or stolen you have protection from the bank and are not responsible for any fraud.
• Convenient: Making purchases with a credit card is a lot easier as you don’t need to carry cash every time.

Side effects of credit card

• Interest rates: Credit card interest rates can be very high if you don’t make payments on time. This can cause your debt to grow quickly.
• Expenses: Due to credit cards, some people start spending more than their capacity, due to which the debt increases.
• Negative impact on credit score: If you do not make payments on time, it can harm your credit score and may cause problems in getting a loan in future.
• Fees and charges: Credit card fees, late fees, cash advance fees can add up over time.
• Debt Trap: If you pay only the minimum amount and do not pay the entire outstanding amount, the debt burden can increase and become very heavy for you.

If you use credit card carefully and pay on time, then it can be beneficial for you.

Related Articles:-

• UPI-Lite Users can Transfer Money From Wallet to Bank Account, NPCI issued circular
• IT Department is Preparing to Take Action against These Approximately 40,000 Taxpayers
• Vietjet Ticket Sale: Tickets for going abroad on Holi are available for just 11 rupees, Know all Details
• Cash Deposit Limit: You May have to Pay 60% Tax on Depositing cash, See income tax guidelines
• DA Hike 2025: Govt raises DA of Employees by 12%, Both salary and pension increased

The post Credit card usage benefits and side effects first appeared on Rightsofemployees.com.

What did the finance minister say

While presenting the general budget on February 1, Union Finance and Corporate Affairs Minister Nirmala Sitharaman announced this. She said that we will launch special customized credit cards with a limit of Rs 5 lakh for micro enterprises registered on the Udyam portal. She further said that 10 lakh cards will be issued in the first year.

How can you register

For this, first visit the Udyam portal- msme.gov.in. Here you have to click on the Quick Links section. After this, you have to register by clicking on Udyam Registration. Here you will get detailed information about the documents required for registration and eligibility. You can register accordingly. There is a credit card facility for registered micro enterprises.

These were also announced in the budget

The credit guarantee cover for micro and small enterprises has been increased from ₹5 crore to ₹10 crore. This will enable additional credit of ₹1.5 lakh crore in five years. At the same time, the guarantee cover for startups will be doubled from ₹10 crore to ₹20 crore with a reduced fee of 1% for loans in 27 priority sectors. Apart from this, exporting MSMEs will benefit from term loans up to ₹20 crore with increased guarantee cover.

Related Articles:-

• Aadhar Card Cancelled: These people’s Aadhaar cards will be cancelled! Know if your name is not in the list…
• School Closed: All government and private schools will remain closed on 26 and 27 February – Know all Details
• Retirement Age Increased: Government has increased the retirement age of these employees by 5 years, check details
• School Holiday: Schools To Remain Closed On Feb 26, Due to THIS Reason- Check Details
• AADHAAR: New update regarding Aadhaar biometric update, Aadhar of these people may be cancelled

The post Credit Card: Govt will give THESE people a Credit card with a limit of ₹ 5 lakh, Know all Details first appeared on Rightsofemployees.com.

At the same time, most of the banks provide balance transfer facility, in which credit card holders can transfer their outstanding amount from one credit card to another at low interest rate and easy installments. Today we are telling you about the top 6 banks, which have made credit card balance transfer easy and cheap.

SBI Card Balance Transfer

SBI offers its cardholders the facility of balance transfer at 0% interest rate for 60 days. At the same time, a processing fee is 2% of the transfer amount or Rs 199, whichever is higher. Interest of 1.7% per month or 20.4% per annum has to be paid for 6 months. No processing fee is charged. The monthly interest rate for balance transfer on EMI for 3 months is 0.83% to 0.96% (10% to 11.50% per annum). The interest rate depends on the credit score of the cardholder. The higher the credit score, the lower the interest rate. The processing fee is 1%.

Kotak Bank Balance Transfer

With Kotak Bank, you can avail the balance transfer facility for a minimum of Rs 2,500. The maximum allowed amount on Kotak Bank credit card is up to 75% of the credit limit. The processing fee is Rs 349 + GST ​​per Rs 10,000. Balance transfer can be availed for a period of 90 days. If the balance transfer payment is made within 90 days, no interest will be charged. Balance transfer facility can also be availed on EMI basis for 6 months. The interest rate on ‘Balance Transfer on EMI’ is 18% per annum (reducing).

ICICI Bank Balance Transfer

ICICI Bank offers balance transfer facility for a minimum of Rs 15,000. The maximum allowed amount is up to Rs 3 lakh. Payment plans include 3 and 6 month installments.

RBL Bank Balance Transfer

RBL Bank offers balance transfer facility under the ‘Transfer ‘n’ Pay’ facility. The cardholder can choose to transfer the balance in EMI repayment tenure of 3, 6 or 12 months. The processing fee for 3 months tenure is 2.99% or Rs 750, whichever is higher.

Relate Articles:

• New Visa Policy: Saudi Arabia changed visa rules for Indians, these countries will also be affected
• Post office Mahila Samman Saving Certificate scheme – Benefits interest rate and registration process
• PPF Interest Rate: Govt may reduce PPF and Sukanya Samriddhi Yojana interest rate – Know full Details
• Bank Strike: Bank employees to go on strike March 24 and 25 – Check all Details
• BOB FD Rates: Bank of Baroda has revised interest rates on bulk FDs from Rs 3 crore to Rs 10 crore

The post Credit Card Balance Transfer: These 4 banks made credit card balance transfer easy and cheap – Key Details first appeared on Rightsofemployees.com.

Udyam Portal Registration Process For MSME Credit Card: 1 February 2025 was a very special day for the people of the country because on this day Finance Minister Nirmala Sitharaman presented the Budget 2025-26 in Parliament. Many announcements were made in this budget, in which one announcement was also made regarding MSME. In this, the credit card limit was increased from 5 crores to 10 crores.

At the same time, people associated with micro industries i.e. small industries will get a credit card with a limit of up to Rs 5 lakh. In such a situation, if you also want to get this MSME credit card, then before that you have to register on the Udyam portal. So let’s know how you can get this done…

The post MSME Card: Small traders will get a credit card with a limit of Rs 5 lakh, know how to register first appeared on Rightsofemployees.com.

FIRST EARN Credit Card: IDFC First Bank (IDFC FIRST Bank) has launched a new UPI-enabled credit card in collaboration with RuPay. It has been named FIRST EARN. This is a game changer for first-time credit card users as it is issued on the basis of Fixed Deposit (FD). Along with this, there is also a benefit of cashback on every UPI payment made from the card.

IDFC FIRST Bank issued a statement saying, “The credit card application has an option of fixed deposit creation for all customers. This card gives an opportunity to get credit as well as rewards on UPI payments and add unmatched interest on fixed deposits. FIRST EARN Credit Card will give 1% cashback on every UPI payment.”

Shirish Bhandari, Head – Credit Cards, FASTag and Loyalty, IDFC First Bank, while talking to Business Standard said, ”We are happy to announce the launch of FIRST EA₹N RuPay Credit Card. It is specially designed for first time credit card users, which is a gateway product to the world of financial services.” He further added, ”This is a fixed deposit backed credit card, which makes everyday UPI payments super rewarding, with 1% cashback automatically credited to your card account. Apart from this, being linked to fixed deposits, this card promotes savings and growth, thereby improving credit, investment and financial health all together.”

Features of FIRST EARN Credit Card

Welcome Offer – New card holders will get 100 percent cashback up to Rs 500 on their first UPI transaction.

Attractive interest on FD – Customers making fixed deposits through credit card will get 7.25 percent interest on one year FD.

Cashback Reward – This card gives up to 1 percent cashback on UPI transactions through IDFC FIRST Bank app and 0.5 percent cashback on transactions made from any other UPI app or insurance, utility bills and e-commerce related payments.

UPI Integration – This card can be used on more than 60 million UPI QR codes, making everyday shopping at shops easier.

Instant ease of getting- This is a virtual credit card, which is issued instantly, then it can be used immediately by connecting to UPI.

Movie ticket discount– Booking movie tickets through Zomato with the card will get 25 percent discount up to Rs 100.

Accident cover– Personal accident cover of Rs 2 lakh will also be available with FIRST EA₹N credit card. Apart from this, lost card liability cover of up to Rs 25,000 is also available. There is also a facility of complimentary roadside assistance of up to Rs 1399.

Fees
The joining fee of the card is Rs 499 plus GST. After this, the same annual fee will be charged every second year. The monthly interest rate on this starts from 0.75 percent and goes up to 9 percent annually. Apart from this, 1 percent surcharge (minimum Rs 249 plus GST) is levied on rent and property management.

Eligibility for FIRST EA₹N Credit Card
Any person above 18 years of age can apply for it. The applicant’s current and permanent address should be in India. It is necessary to create and maintain a fixed deposit of at least Rs 5,000.

The post FIRST EARN Credit Card: This credit card is giving tremendous interest on FD, read the many benefits of IDFC FIRST EARN first appeared on Rightsofemployees.com.

These changes are related to finance charges, cash payment fees, currency conversion markup, fuel transactions, utility transactions etc. The new rules have come into effect from today i.e. 20 December 2024.

Finance or Interest Charges

The finance interest charge applicable on credit cards will now be levied at 3.75% per month, up from 3.6% earlier. This change will be applicable on all Axis Bank retail credit cards except Burgundy Private Credit Card, Magnus Burgundy Credit Card, Flipkart Secured Credit Card, Magnus Credit Card, IOCL Easy Credit Card, Myzone Easy Credit Card, Legacy Secured Credit Card, Olympus Credit Card, Primus Credit Card, Privilege Easy Credit Card and Reserve Credit Card.

Charges on cash payments

Charges on cash payments have been increased. The charge for cash payments at bank branches will be increased from Rs 100 to Rs 175. This change will be applicable on all Axis Bank retail credit cards except Burgundy Private Credit Card, Primus Credit Card and Insta Easy Credit Card.

Reward redemption

If you redeem your EDGE Rewards Points or EDGE Miles on the EDGE portal, you will have to pay a fee of Rs 99. If you transfer DGE Rewards Points or EDGE Miles to a partner loyalty program, you will have to pay a reward redemption fee of Rs 199.

Late Payment Charge (LPC)

The existing Late Payment Charge (LPC) structure will continue. If the Minimum Amount Due (MAD) is not paid by the payment due date (PDD) for two consecutive billing periods, an extra charge of Rs 100 will be applicable. This change will be applicable on all Axis Bank retail credit cards except Burgundy Private Credit Card, Olympus Credit Card and Primus Credit Card.

Rent surcharge:

The bank will continue to levy a rent surcharge of 1% on all rent transactions. The maximum fee capping of Rs 1,500 per transaction has been abolished.

Wallet Load Transactions

A charge of 1% will be levied on total wallet load transactions of Rs 10,000 or more in a statement period.

Fuel Transactions:

1 per cent charge will be levied on total fuel transactions of Rs 50,000 or more in a statement period.

Education Transactions:

1% charge will be levied on education payments made through third party apps/websites.

Utility Transactions:

1 per cent charge will be levied on total utility payments of Rs 25,000 or more in a statement period.

Currency Conversion

Dynamic currency conversion charge has been increased from 1 per cent to 1.5 per cent.

Related Articles:-

Govt’s special scheme for daughters, Rs 1 lakh is given on reaching the age of 21…

18 OTT Platforms BANNED In India: Central government blocks 18 OTT platforms

Public Holiday: Holiday declared on December 21 in THIS State, see notification

The post Credit Card Charges Hike: Axis Bank has increased many charges related to Credit Card, check details here first appeared on Rightsofemployees.com.

It is very important for customers to be aware of these revisions so that they can avoid unnecessary charges. So that, they can get maximum benefit on credit card.

SBI Credit Card

SBI Card will now charge 1% on utility bill payments above Rs 50,000.

Many cards like SimplyCLICK, AURUM and Gold SBI cards will not earn reward points on payments made on digital gaming platforms.

Axis Bank Credit Card

From December 20, 2024, a charge of Rs 9 + 18% GST will be applicable on cash redemption and Rs 199 + 18% GST on mileage point transfer.

Transaction charges and interest rates on wallet load, fuel purchases and rent payments have been changed.

YES Bank Credit Card

The redemption policy of reward points has been changed.

There is a cap on reward points for hotel and flight bookings. Redemption limits are higher on YES Private and YES MARQUEE cards.

Free airport lounge access will cost more from April 1, 2025. For example, YES MARQUEE cardholders will have to spend Rs 1 lakh for six lounge visits and YES First Preferred cardholders will have to spend Rs 75,000 for two visits.

AU Small Finance Bank Credit Card

The terms and conditions for reward points on Ixigo AU credit card will be changed from 22nd December 2024.

Reward points will not be available on government services, education, rent payments and Bharat Bill Payment System (BBPS).

Reward points will not be available on foreign purchases due to the implementation of 0% FX markup on foreign transactions from 23 December 2024.

Reward points have also been capped on utility, insurance and telecom transactions. Insurance transactions will earn 1 point for every Rs 100 with a limit of 100 points.

Related Articles:-

School Holiday Order! All schools will remain closed and colleges for 8 consecutive days, Education Department issued order

Retirement Age Increase: Retirement age increased by two years on the instructions of High Court, now you will be able to work for so many years

Best Scheme for Senior Citizens: 0 Risk High return investment scheme for senior citizens – Check calculator

The post Credit Card Rules: Yes Bank, SBI and Axis Bank changed the rules of credit card, Check details first appeared on Rightsofemployees.com.

Increase in interest charges

From December 20, the finance or interest charge on Axis Bank credit cards will increase from the current 3.60% per month to 3.75% per month. The annual interest charge will increase from the current 43.20% to 45.00%. This increase in interest rate will be applicable on all credit cards, except for some specified cards where there will be no change in the existing interest rate. It is always advisable to pay the entire outstanding bill amount every month either before the due date or by the due date. This will help you avoid high interest charges.

Increase in charges for payment failure

Axis Bank charges a fee on SI, NACH payment failure, auto debit reversal or cheque return. This fee is 2% of the payment amount or a minimum amount of Rs 450, with a maximum limit of Rs 1,500. From December 20, the minimum amount will be revised to Rs 500. Also, the maximum limit of Rs 1,500 will be removed. This change will apply to all Axis Bank credit cards except Burgundy Private Credit Card, Olympus Credit Card and Primus Credit Card.

Increase in cash payment charges in branch

Apart from using online payment mode to pay credit card dues, you also have the option of paying at the branch. From December 20, Axis Bank will charge Rs 175 for cash payments at branches. Currently, this fee is Rs 100. You can make a maximum cash payment of Rs 50,000 in a day.

Cash payment charges will be applicable on all Axis Bank credit cards except Burgundy Private Credit Card, Primus Credit Card and Insta Easy Credit Card.

An additional charge of Rs 100 will be levied for late payment

If the customer does not make the payment or the payment made is less than the Minimum Amount Due (MAD) by the payment due date, the bank levies a Late Payment Charge (LPC). The current LPC structure is as follows.

Related Articles:-

Big relief for Employees! Extends the deadline to activate UAN to avail the benefit of ELI scheme

Petrol Diesel Price: Petrol and diesel prices released on Friday 6 December, check the rate of your city

Indigo New Flight: IndiGo to launch Bengaluru-Ayodhya direct flights from December 31

The post Credit cardholders will be charged a redemption fee of Rs 199 for transferring credit card reward points first appeared on Rightsofemployees.com.

A private sector bank is going to change its credit card rules (Credit Card New Rules) after just three days. We are talking about Yes Bank. Yes Bank has made two major changes in the benefits of its credit card, which will come into effect from December 1, 2024. These changes include changes in the rules related to reward points redemption and lounge access.

Reward Points Redemption

Yes Bank will impose a limit on the number of reward points that can be redeemed for flights and hotels from December 1, 2024. Cardholders can use their Yes Reward Points to cover up to 70 per cent of the total bill or the maximum monthly limit (whichever is lower). The monthly limits are as follows –

• Yes Private and Private Prime Cards: 6,00,000 points
• Marquee Card : 3,00,000 Points
• Reserve Card: 2,00,000 Points
• Other Yes Bank Credit Cards: 1,00,000 Points

This limit on redemption is in addition to the existing limit, which allows cardholders to use only 50% of their available points for gift vouchers and statement credits.

Lounge access

Yes Bank is also increasing the spending limits for complimentary airport lounge access on its credit cards. This change will be effective from April 1, 2025. Cardholders will have to meet these spending requirements in the previous quarter to avail domestic lounge access in the upcoming quarter:

• 6 lounge visits under Yes Marquee and 3 lounge visits under Yes Reserve card will cost Rs 1 lakh.
• Under Yes First Preferred and Yes First Business Card, you will have to spend Rs 75,000 for 2 lounge visits.
• Yes Elite+, Select, BYOC, Wellness Plus, and Yes Prosperity Business cards – Here you will have to spend Rs 50,000 for 1 or 2 lounge visits depending on the card.

The spend must be done within the specified quarters. For example, 21 December – 20 March for April-June access. The number of visits remains the same, but it is necessary to meet the new spend limit.

What do these changes mean for cardholders?

With these updates, Yes Bank joins other banks like ICICI Bank in increasing the requirements for lounge access. Cardholders can expect these changes to impact the way they maximize their rewards and airport lounge access.

Related Articles:-

Delhi govt has finally announced 1000 per month to women, know when the money will come in the account…

Can the state government get hold of the officers of the center? SC pronounced an important decision…

Cyclone Fengal Update: Destruction will come today with a speed of 90 km, flights cancelled, issued red alert

The post Credit Card New Rules: Major rules of credit card are changing from 1st Dec, know here first appeared on Rightsofemployees.com.

Credit Card Charge: Axis Bank, the third largest private sector bank offering finance services for personal and corporate banking in the country, is going to make several changes in its credit card charges from next month. Customers have started receiving notifications of these updates to be made by the bank from December 20, 2024. These include new redemption fees, revised interest rates and additional transaction charges.

Redemption Fees for EDGE Rewards and Miles

Axis Bank is introducing redemption fees for using EDGE rewards or miles. Customers will be charged Rs 99 (plus 18 per cent GST) for cash redemption and Rs 199 (plus 18 per cent GST) for transferring points to the mileage program. Customers who want to avoid these charges can redeem or transfer points before December 20, 2024.

This fee will be applicable on select credit cards

• Axis Bank Atlas Credit Card
• Samsung Axis Bank Infinite Credit Card
• Samsung Axis Bank Credit Card
• Axis Bank Magnus Credit Card (Includes Burgundy Variant)
• Axis Bank Reserve Credit Card
• However, these changes will not have any impact on Citi-Protege cards like Axis Bank Olympus and Horizon.
• There will be changes in other major charges

Axis Bank has revised several other fees-

Interest Rate

Monthly interest rate will increase to 3.75 percent.

Payment Charges

Auto debit reversal and check return will attract a fee of 2% of the payment amount, the minimum limit of which will be Rs 500 and there will be no upper limit. Apart from this, a fee of Rs 175 will also be charged on cash payment in branches.

Penalty for Missed Payment

If the Minimum Amount Due (MAD) is not paid for two consecutive cycles i.e. at two scheduled times, an additional fee of Rs 100 will be charged and this fee will continue to be applicable till the due amount is paid.

Dynamic Currency Conversion (DCC) Markup

DCC has been revised to 1.5 per cent.

Rent Transactions

Now a 1% fee will be charged for paying rent from the account. There will be no limit on the fee amount.

Education payments through third-party apps

A 1% fee will be charged for paying education fees through any third-party app (like Paytm, Cred, Google Pay etc.). However, payments made directly to educational institutions will be exempted.

Spending Limits And Transaction Fees

Now a fee of 1 per cent will be levied on wallet load exceeding Rs 10,000.

There will also be a 1 per cent fee on fuel expenses above Rs 50,000, utility above Rs 25,000 and gaming transactions above Rs 10,000 in a statement cycle. These changes will apply to both Axis Bank and Citi-migrated credit cards.

Related Articles:_

Cyber Security New Rules: Government notifies telecom cyber security rules, know all new rules of DoT

Mutual Fund Investment Tips: You May Get More Than 72 Lakhs Rupees By Just Investing Five Thousand

Women are getting 7.50% interest on the capital deposited in this government scheme

The post Credit Card Charge: This bank is going to implement new credit card charges, check details first appeared on Rightsofemployees.com.

You can be sent a notice. If these are such transactions, then even a CA will not be able to save you. Especially, this information is very important for credit card users. Know which are the transactions that can put you in trouble.

1- Heavy expenditure on foreign travel

If you have spent more than ₹ 2 lakh on foreign travel in a year, then its data goes to the Income Tax Department.

2- Big spend on credit card

If you spend more than ₹ 2 lakh annually on a credit card, the Income Tax Department keeps an eye on you. Large transactions may attract the attention of the department.

3- Credit card bill payment in cash of more than ₹ 1 lakh

4- Heavy investment in mutual funds and shares

If you have invested more than ₹ 10 lakh in mutual funds, shares or bonds in a year, the Income Tax Department can send you a notice.

5- Property investment above ₹30 lakh

If you have purchased a property whose value is ₹30 lakh or more, then its information reaches the Income Tax automatically.

6- Big cash deposit

Depositing a large amount of cash in your bank account can attract the attention of the Income Tax department. The chances of getting a notice increases if you deposit more than ₹10 lakh in cash.

7- Business transaction of large amount in cash

The Income Tax Department keeps an eye on business transactions done in cash. The department can ask you for information on business transactions of more than ₹50,000.

Related Articles:-

RBI releases 2024 list of Domestic Systemically Important Banks (D-SIBs)

DRDO Recruitment 2024: Govt Jobs Fellowship Without Written Test Salary One Lakh

IMD dense fog alert: Meteorological Department has today issued an alert of dense fog in 35 districts of this state

The post Income tax notice: Don’t do these 7 transactions using your credit card by mistake, Otherwise Income Tax Notice will come first appeared on Rightsofemployees.com.

Additional charge of 1% on utility bill payments

Now 1% surcharge will be levied on paying utility bills like electricity, water, gas through SBI credit card. This additional charge will be applicable only when the total payment amount in a billing cycle exceeds Rs 50,000. If the bill amount is less than Rs 50,000, then no additional charge will be levied.

Rewards on government transactions stopped

Now there will be no rewards on government transactions done with SBI cards. Due to this decision, consumers making government payments like tax or availing other government services will get less rewards, which can affect their savings.

Changes in fuel surcharge waiver

If a customer’s fuel expenditure is more than Rs 1,00,000 per month, he will not get a waiver on the surcharge. Due to this, customers with high fuel expenditure may have to bear additional expenses.

Change in ICICI Bank Credit Card rules

ICICI Bank has also made changes to its credit card rules, which will come into effect from November 15, 2024. The bank has cut down on airport lounge access, insurance benefits, and late payment fines. Also, there will no longer be any rewards on government transactions and the surcharge waiver will end if the fuel expenditure limit exceeds Rs 1,00,000 per month.

These changes are aimed at balancing the bank’s benefit schemes, but it may impact the spending and rewards earning of credit card holders.

Related Articles:-

NHAI Recruitment 2024: Here you can get a salary package of Rs 29,00,000, age limit up to 63 years

Airport Closed: Big news for air passengers! This International airport will be closed for 5 hours on this date, know why?

Property Rule: Govt cannot take over all private property, rules Supreme Court

The post Credit Card: New update for SBI and ICICI customers, the bank has changed many rules first appeared on Rightsofemployees.com.

Insurance has become very important in today’s time. To pay the insurance premium from time to time, we have to check the balance of our bank account. But, do you know that now you can also pay the insurance premium through credit card? Paying insurance premium through credit card is easy and it also has many benefits.

In this article, we will tell you how you can pay insurance premium through credit card.
this is the whole process

• First of all you have to visit the website or app of the insurance company.
• After this go to the insurance premium payment section.
• Now select the premium payment option.
• In the payment option, you have to select credit card.
• Now enter your credit card details and confirm the payment.
• If you want, you can also choose the option of auto-debit. After selecting the option of auto-debit service, the premium payment will be done automatically. In this, you will not have the tension of paying the premium again and again.

Let us tell you that paying insurance premium through credit card is a very good option. Let us know about its advantages and disadvantages.

What are the advantages and disadvantages

• Even if you do not have balance in your bank account, you can easily pay the premium.
• Paying the premium on time will have a positive impact on your credit score.
• Paying insurance premium on many credit cards earns you Credit Card Reward Points.
• If you choose the auto-debit option for payment, the premium will be paid on time.

Let us tell you that many insurance companies charge extra for paying premium through credit card. In such a situation, you should read the terms and conditions carefully before selecting this option.

Related Articles:-

AADHAAR CARD: Now Aadhar card will be updated instantly, govt started new facility

PF withdrawal Rules: EPFO has changed the rules for withdrawal from the account, know the new rules

Delhi Metro: Highest fine is imposed for this act in metro, do not do this act even jokingly

The post You can also pay insurance premium through credit card, know the step by step process here first appeared on Rightsofemployees.com.

In such a situation, it is very important for people to know about these rules. A small mistake can cost you heavily. All these changes are going to have a direct impact on you. Let us know which rules are changing.

LPG gas cylinder became expensive

Like every month, this month too the price of LPG gas cylinder has changed. Oil marketing companies have increased the price of commercial gas cylinder by up to Rs 62. This affects small businessmen. However, there has been no increase in the price of domestic gas cylinder.

2 – Two big changes in the UPI Lite platform

Two major changes are going to happen in the UPI Lite platform from November 1, 2024. With this, UPI Lite users will be able to make more payments. RBI has also increased its transaction limit. Under the second change, your UPI Lite balance will go below a certain limit. With the new auto top-up feature, money will be added to UPI Lite again. This will eliminate the need for manual top-up. With this, payments can be made without stopping with the help of Unified Payments Interface (UPI) Lite.

3 – New rules for money transfer

RBI had said that the new rules for domestic money transfer will come into effect from November 1, 2024. So that the misuse of banking channels for fraud can be prevented. RBI had said in its circular that the availability of banking outlets has increased significantly. There has been an ease in fulfilling KYC requirements. Now users have many digital options for money transfer. Recently various services convenient in the existing framework were reviewed.

4 – Changes in credit card rules

SBI Card, a subsidiary of the country’s largest public sector bank State Bank of India, has made a big change from November 1. These are the rules related to utility bill payments and finance charges through credit cards. From November 1, a finance charge of Rs 3.75 will have to be paid every month on unsecured SBI credit cards. Apart from this, an extra charge of 1% has been imposed on payments of more than Rs 50,000 for electricity, water, LPG gas and other utility services.

5 – Changes in train tickets

The rules for booking train tickets have changed from November 1. Now train tickets can be booked only 60 days in advance, not 120 days as before. Indian Railways has made these changes in the rules for advance ticket booking to make the ticket booking process easier for passengers.

Related Articles:-

Public holidays: Govt declared holiday on November 1, school-college offices will remain closed

These 7 credit cards are best for traveling abroad, you will not have to pay forex charges

The post New Rules: From UPI payment, credit card to train ticket…. many rules have changed from Today first appeared on Rightsofemployees.com.

According to Mint, this offer is valid till December 31 for Swiggy HDFC Bank Credit Card, Tata Neu Plus HDFC Bank Credit Card and Tata Neu Infinity HDFC Bank Credit Card.

Earlier, customers had the opportunity to apply for Freedom Credit Card and BizFirst Credit Card without annual fees till October 31.

Annual fees of popular credit cards

The annual fee of Tata New Plus HDFC Bank Credit Card is Rs 499 while the annual fee of Tata New Infinity HDFC Bank Credit Card is Rs 1,499. The annual fee of Swiggy HDFC Bank Credit Card is Rs 500.

What are annual charges?

Let us tell you that in almost all the banks that provide credit card facility, you have to pay joining fee and annual charge. Annual fee is the most common charge in the card which is levied on your card every year. You have to pay joining fee only once, while you have to pay annual charge every year. Annual charges vary according to the banks. However, some banks do not charge this charge. At the same time, some banks put a condition in front of the customers that you will be given a discount on annual charge if you do shopping of so many rupees every year.

Related Articles:-

These 7 credit cards are best for traveling abroad, you will not have to pay forex charges

7th Pay Commission: DA of Punjab government employees increased by 4%, salary will increase by this much

Public holidays: Govt declared holiday on November 1, school-college offices will remain closed

The post HDFC Bank offers credit cards without annual fee during festival season first appeared on Rightsofemployees.com.

October 2024 is about to end. Diwali is just a few days away and November is preparing to knock with new changes. Every month changes are made in LPG, credit card and some other important rules. These changes affect the pockets of all people. That is why it is important that you know about these rules well. Here we are going to tell you about such rules which can change from 1 November 2024. These changes going to be made in the rules will also affect your pocket. Let us know what new changes you can see.

LPG Cylinder Prices

People have been waiting for a reduction in LPG cylinder prices for a long time. The prices of 14 kg LPG cylinders have remained stable for a long time. The prices of cylinders are changed by gas companies on the 1st of every month. On the other hand, the price of 19 kg commercial cylinders saw a decline in the month of July, but since then their prices have been increasing continuously.

CNG-PNG prices

Every month, gas companies change the prices of LPG as well as CNG and PNG. Along with this, changes are also made in the prices of ATF (Air Turbine Fuel). A big change can be seen in the prices of CNG and PNG. On the other hand, ATF prices are continuously falling and it is believed that a decline can be seen in them in November as well.

Credit card rules

India’s largest government bank, State Bank of India (SBI) may make necessary changes in its credit card rules. From November 1, you will have to pay a finance charge of 3.75% per month on unsecured SBI cards. Along with this, if you also pay utility bills with your SBI credit card and pay more than Rs 50,000 in a month as utility payment, then you will also have to pay a 1% fee.

banks closed for 13 days

Banks will remain closed for a total of 13 days in November. In such a situation, if you are waiting to get some important work related to the bank done, then you will have to wait or you can do your work through online banking. Along with the holiday in November, assembly elections are also going to be held, due to which banks will remain closed for 13 days.

Related Articles:-

Diwali Holidays: This state will get 5 days holiday on Diwali, check holiday list here

TRAI New Rule: Will OTP SMS not be received from November 1? TRAI made new rules

Ration Distribution Rules: New food grain distribution system is going to be implemented in govt cheap grocery shops from 1st November.

The post New Rules Form 1st November: From LPG to credit card, these rules will change from November 1 first appeared on Rightsofemployees.com.

If you use credit card for transactions related to digital gaming platform/merchant then you need to be cautious. Actually, the country’s largest bank State Bank of India (SBI) has again given a big shock to its credit card users. Some changes have been made in the rules of credit card by SBI Card. The new rules will come into effect from December 1, 2024. Recently many more rules were changed by SBI.

According to the SBI Card website, from December 1, 2024, 48 of its credit cards will not offer reward points on transactions related to digital gaming platforms/merchants.

1. aurum
2. SBI Card ELITE
3. SBI Card ELITE Advantage
4. SBI Card Pulse
5. SBI Card
6. SimplyCLICK Advantage SBI Card
7. SBI Card PRIME
8. SBI Card PRIME Advantage
9. SBI Platinum Card
10. SBI Card PRIME Pro
11. SBI Card Platinum Advantage
12. SBI Gold Card
13. SBI Gold Classic Card
14. SBI Gold Defense Card
15. SBI Gold & More Employee Card
16. Gold & More Advantage SBI Card
17. SBI Gold & More Card
18. SBI Card
19. SBI Employee Card
20. SimplySAVE Advantage SBI Card
21. SBI Gold & More Titanium Card
22. SimplySAVE Pro SBI Card
23. SBI Credit Card
24. SimplySAVE Merchant SBI Card
25. SBI Card
26. SBI Platinum Card
27. SIB SBI SimplySAVE Card
28. KVB SBI Platinum Card
29. KVB SBI Gold & More Card
30. KVB SBI Signature Card
31. Karnataka Bank SBI Platinum Card
32. Karnataka Bank SBI SimplySAVE Card
33. Karnataka Bank SBI Card PRIME
34. Allahabad Bank SBI Card ELITE
35. Allahabad Bank SBI Card PRIME
36. Allahabad Bank SBI SimplySAVE Card
37. City Union Bank SBI Card PRIME
38. City Union Bank SimplySAVE SBI Card
39. SBI Card ELITE
40. SBI Card PRIME
41. Central Bank SimplySAVE SBI card
42. UCO Bank SBI Card PRIME
43. UCO Bank SimplySAVE SBI Card
44. UCO Bank SBI Card ELITE
45. SBI Card ELITE
46. PSB SBI Card PRIME
47. SBI SimplySAVE
48. SHAURYA SELECT SBI CARD

Apart from this, recently SBI has announced changes in the rules given below, which will be effective from November 1, 2024.

SBI will charge surcharge on payment of utility bills above Rs 50,000 .

1% extra charge will be levied on utility bill payment of more than Rs 50,000 in a statement cycle through SBI credit card. However, no extra charge will be levied on utility bill payment below Rs 50,000. These rules will be effective from November 1, 2024.

Changes in finance charges

SBI has also changed the finance charges of all unsecured credit cards except Shaurya/Defense credit cards. Now 3.75% finance charge will be levied on SBI’s unsecured credit cards. These rules will also be applicable from November 1, 2024.

Related Articles:-

Income Tax: Income up to Rs 8 lakh can be tax free, check details here

New Flight Service: Now Indigo flights will also begin flying from this airport to Delhi and Mumbai from this day

DA Hike: These govt employees will get bonus along with increased DA, check details

The post Credit Card Rules: SBI changed the rules of credit card, these rules will be applicable from December 1 – Check here first appeared on Rightsofemployees.com.

If you do not want to pay this charge and still continue to take advantage of the great features of the credit card, then we have brought some great options for you.

These 5 credit cards are lifetime free and will give you great savings everywhere from shopping to booking.

RBL Bank BankBazaar SaveMax Credit Card

• This card allows you to get instant cash in your account.
• 10% cashback offer on BookMyShow and Zomato (up to ₹100 per month on each).
• ‘Split N Pay’ facility with up to 100% discount on EMI services.
• Through the RBL Bank MyCard app, you can manage your credit card completely, pay utility bills and get exclusive merchant offers.

IDFC First Millennium Credit Card

• 10x reward points on spending more than ₹20,000 on cardholder’s birthday.
• 3x reward points up to ₹20,000 on online and offline purchases.
• 1x reward point for insurance premium and utility bill payments.

ICICI Bank Platinum Chip Credit Card

• Earn 2 reward points on every ₹100 spent at retail stores except petrol.
• 1 reward point on every ₹100 spent on insurance and utility bills.
• 1% discount on fuel surcharge (up to ₹4,000) at HPCL pumps across the country.
• Exclusive deals at luxury hotels, restaurants, lifestyle retailers and spas.

Amazon Pay ICICI Credit Card

• Through this card, you get unlimited rewards which never expire.
• You can redeem reward points for shopping on Amazon.
• On shopping from Amazon, you get the option of 3-6 months no-cost EMI.
• Amazon Prime users also get a 5% reward on shopping on Amazon India.

IndusInd Platinum Credit Card

• After registration charges, you get luxe gift cards and vouchers from leading brands.
• 1% fuel surcharge waiver between ₹400 and ₹4,000 at all petrol pumps in India.
• Free flight accident coverage up to ₹25 lakh and lost baggage insurance up to ₹1 lakh.
• 1.5 reward points for every ₹150 spent and 2 reward points for every ₹100 spent on UPI payments.
• These credit cards are best for those who want to enjoy great features without any annual charge.

Related Articles:-

UPI Service: India to introduce UPI payment service in Maldives

Yogi government’s new guideline regarding “Encounter”, DGP issued guidelines

India Post GDS 3rd Merit List OUT at indiapostgdsonline.gov.in- Region wise PDF

The post Top 5 Best Lifetime FREE credit cards India – Features benefits and other first appeared on Rightsofemployees.com.

Whenever you shop with a credit card, you get reward points. You can also get great offers by using these reward points. Also, free airport lounge facility is also provided on many cards. Is airport lounge free on your credit card too? You can find this out very easily sitting at home.

Check like this

You can use various methods to find out the availability of airport lounge facility on your credit card. Out of these, the easiest way is to visit the website of the card issuing company. You can easily find out whether your card has airport lounge facility or not by visiting the benefits and rewards section of the company’s official website. Apart from this, you can also find out by calling customer care. Usually, the customer care company’s number is written on the back of the credit card.

What are the benefits of airport lounges

Sometimes it happens that you are traveling by air and your flight gets delayed. Whenever this happens, a person wants to go to a place and rest for a while and have food etc. But you cannot go out of the airport. That is why you are given the facility of free airport lounge. You can go to the airport lounge and relax and there is also facility of food and entertainment.

Related Articles:-

Post Office RD: Account has been closed due to non-payment of RD installments, can it be restarted?

Tax Rule Changes: These tax rules will change from October, it will have a direct impact on you

Work from home ending! Dell issues directive to global sales team to work in office from Monday

The post Credit Card: Is airport lounge free on your credit card? Check it easily like this first appeared on Rightsofemployees.com.

If you are planning to go abroad then this is a useful news for you. Card companies charge forex markup fee for making payment by credit card abroad. Now there is a relief news for you. Actually, IDFC First Bank has launched Mayura Credit Card on Thursday (September 20). The special thing about this card is that the cardholder will not have to pay any forex charge for making payment abroad.

Features of IDFC FIRST Mayura Credit Card

• Zero Forex Mark-up: No forex mark-up on transactions in foreign currencies.
• Higher Rewards: 10X reward points on spending more than Rs 20,000 in a statement cycle and on your birthday i.e. 10 times more reward points than normal rewards
• Airport Lounge Access: 4 domestic airport lounge or spa visits per quarter including one guest visit, 4 international airport lounge access per quarter
• Trip cancellation cover: Compensation up to Rs 50,000 annually for non-refundable portions of flight and hotel cancellations
• Movie Perks: Buy one get one offer on movie tickets via BookMyShow, up to Rs 500 off on second ticket, offer 2 times a month.
• Gold Privilege: Up to 40 golf rounds or lessons per year.

Forex markup fee

Let us tell you that card companies charge forex markup fee when you make payment abroad using credit card. This fee can be up to 3.5 percent of your transaction amount. However, there are some credit cards in the market that charge low or zero forex markup fee.

Related Articles:-

BSNL introduced a new plan, You will get fast internet and calling, know about validity and benefits

Public Holiday Alert: Banks and schools will remain closed for four days from today, know full details of the holidays

Post Office’s superhit scheme! You will get Rs 9,250 every month for five years, know the benefits of the scheme here

The post IDFC First Bank launches Mayur Credit Card, No forex charges, know more features first appeared on Rightsofemployees.com.

According to Finance Ministry sources, FATF wants that when a transaction is done through a credit card, complete information of both the spender and the recipient should be easily available.

A system should be developed that can help in getting information about the person making the transaction and the recipient in real time whenever required. Many credit cards are not even linked to a bank account, so complete information about the spender is not always easily available.

Credit card charges may increase in future

According to Finance Ministry sources, the regulator is in talks with the companies operating credit cards in India regarding this and the credit card companies will bear the cost of this change. This may increase the credit card charges in the future.

According to the Finance Ministry, the speed of transactions will not be affected by the changes being made to bring transparency. Currently, the credit card mainly has the name of the user and the country can also be traced from their number.

Also Read: Advance Tax Deadline: Only 5 days are left to deposit advance tax, make payment immediately

According to the Finance Ministry, FATF also wants to increase transparency in online transactions during foreign travel and India is also in favour of this. Currently, there are many payment aggregators whose standards need to be raised and efforts are being made to bring all of them under the regulatory purview. These aggregators are not as transparent as banks. RBI is working in this direction.

According to the Finance Ministry, India has also started trying to bring transparency in those non-financial institutions through which financial transactions are done indirectly at the global level. According to the Ministry, financial exchange takes place at the global level through institutions like jewellery purchase and sale, casinos, chartered accountant firms etc.

India is a victim of terrorist funding

FATF is a group of 40 countries and countries that do not follow its recommendations can face financial sanctions at the global level. This group evaluates the financial system of member countries. On September 19, FATF is going to release a report on the evaluation of India’s financial system.

India will play an important role in stopping terrorist funding. According to Finance Ministry sources, India is going to play a leading role in stopping terrorist funding at the global level from the platform of FATF. According to the Finance Ministry, India has been a victim of terrorist funding and India has worked a lot on the model of terrorist funding and has also achieved success in stopping this type of funding.

Pakistan was put on the grey list by FATF

India will give the world a model of those examples and other measures to stop terrorist funding. It was India that had informed FATF about the terrorist funding happening in Pakistan, after which Pakistan was put on the grey list by FATF.

Related Articles:-

Land will be linked to Aadhaar, land fraud will stop under Namo Kisan Samman Yojana

Traffic Alert: These roads will remain closed today for Noida residents, check all routes before leaving home

Vande Bharat: 3 new Vande Bharat trains will run from September 15, time-table released; See route chart here

The post Credit card transaction: There may be a change in online and credit card transaction rules first appeared on Rightsofemployees.com.

But from today (September 6) this will not happen, that is, now you will have the freedom to choose the card network of your choice. In simple language, now you can choose any network Visa or Mastercard or Rupay for your credit card.

The Reserve Bank of India (RBI) had issued a circular in this regard in March. Through this, banks and non-bank credit card issuers were banned from entering into exclusive agreements with card networks. RBI believes that banks and financial companies issuing credit cards should give customers the option to choose the credit network of their choice.

Competition will increase among payment companies.

For a long time, Visa and MasterCard have been the first choice of banks or financial institutions issuing credit cards. With the increase in RuPay’s network, they are now facing competition. Experts say that customers will benefit from this move of RBI.

Also Read: Income Tax Refund did not come after filing ITR, know step by step what…

American Express

is exempt from this rule for American Express, which operates its own independent network.

What is a credit card network?

Currently, there are 5 authorized credit card networks in the country that have the license to tie up with banks and financial institutions. These are Visa, MasterCard, Rupay, American Express and Diner’s Club

Related Articles:-

IMPS Charges: What are the charges of banks for IMPS money transfer, Check charges details here

EPS Pensioners: Good news! You will be able to take pension from any bank anywhere in the country from January 1, 2025, know update…

Senior Citizens FD Rates: These 5 banks are giving the highest interest on FD to senior citizens, check interest rates here

The post RBI Credit Cards Rule: RBI’s new rule on credit card from today, new system being implemented first appeared on Rightsofemployees.com.

Due to the great features that come with credit cards, its use is increasing continuously. But there is no doubt that most of the people using credit cards are unaware of some of its very important features. If you have a credit card with a limit of Rs 1 lakh, through which you have done a transaction of Rs 80,000. Now suddenly you have an urgent work and now you have to do a transaction of the entire Rs 1 lakh. In such a situation, can you pay the bill of Rs 80,000 and then do a transaction of Rs 1 lakh again? Under the new credit reporting rules of RBI, this becomes a very important question.

You can spend above the limit even without paying the bill

According to experts, at present, the limit of your card is restored shortly after paying the credit card bill, that is, you can use its full limit shortly after paying the bill. Not only this, if you do not pay the full bill of the card within a billing cycle, then also you can transact more than the limit. However, you will have to pay a charge for this.

Also Read- Indigo Sale: Indigo offers big discount on both domestic and international flight tickets, book ticket immediately

Talk to the bank for Overlimit

Suppose, a card issuer charges 2.5% of the overlimit amount with a minimum fee of 500. This charge can be levied once in a billing cycle. You can talk to your bank or card issuing company to understand this process whether overlimit transactions are allowed on your card and if yes, then how much will you have to charge for this. Apart from this, you can also apply to increase your card limit.

Report has to be given to the bank

The bank will now have to report your credit habits to Credit Information Bureau (India) Limited (CIBIL) or Experian, whereas earlier the bank used to give records of old monthly frequency. This means that your credit score can potentially fluctuate during a month, which was not the case earlier.

What will be the impact on the credit score

Suppose, you have used 80 percent of your card limit, due to which your credit score may decrease slightly. But if you want to pay the bill before the billing cycle ends and the bill is generated, then it will not have any significant impact on your score.

Related Articles:-

Indigo Sale: Indigo offers big discount on both domestic and international flight tickets, book ticket immediately

TRAI proposed to Internet Service Providers to reduce the price of Wi-Fi connection, know details

Bank strike today: Alert customers! Banking services to be hit due to the nationwide strike on August 28

The post RBI New Rule Effect: What will be the impact of RBI’s new rules on your credit card limit, what will happen to your credit score first appeared on Rightsofemployees.com.

These changes include Aadhaar update, special FD scheme and credit card rules. Here we are telling you about these 9 changes whose deadlines you need to remember.

Free update in aadhar

The deadline for updating Aadhaar documents for free has now been extended to 14 September 2024. This facility was earlier available only till 14 June 2024, but now it has been extended by three more months.

IDFC FIRST Bank Credit Card Rules

IDFC FIRST Bank has changed its credit card payment rules, including the minimum payment amount (MAD) and payment deadline. These new rules will come into effect from September 2024.

HDFC Bank Credit Card Loyalty Program

HDFC Bank has changed the rules of the loyalty program of some credit cards. These changes will come into effect from September 1, 2024. The bank has emailed the concerned customers about this update.

IDBI Bank Special FD Deadline

IDBI Bank has extended the validity date for some special tenure FD schemes of Utsav FD till 30 September 2024. These include 300 days, 375 days, and 444 days FD schemes. Apart from this, a new 700 days FD scheme has also been added.

Also Read: Aadhar Card: Only 20 days are left for the opportunity to update Aadhar Card for free

Indian Bank Special FD Deadline

Indian Bank has decided to pay 7.05% interest to general public, 7.55% to senior citizens, and 7.80% to super senior citizens on Ind Super 300 days FD. The last date of this scheme has been extended to 30 September 2024.

Punjab & Sind Bank Special FD Deadline

Punjab and Sind Bank’s 222 days special FD scheme offers 6.30% interest and 333 days FD offers 7.15% interest. The last date for this scheme is 30 September 2024.

SBI Amrit Kalash

The last date for investing in SBI’s Amrit Kalash scheme has been extended to 30 September 2024. On this 400-day scheme, the general public gets 7.10% interest and senior citizens get 7.60% interest. The duration of SBI’s WeCare scheme has also been extended to 30 September 2024.

Rupay Card Reward Points

The National Payments Corporation of India (NPCI) has directed that RuPay credit card and UPI transaction fees should not be deducted from reward points or other special benefits. This direction will come into effect from September 1, 2024.

credit card rule changes

The Reserve Bank of India (RBI) has directed all card issuers not to sign contracts with any one card network that restricts them from using other networks. This change will come into effect from September 6, 2024.

Related Articles:-

Railway Stations Name Change: Names of 8 railway stations changed in this state, see the full list before booking tickets

UP Digital Media Policy 2024 was approved in the cabinet meeting

IMD has issued a red alert in these states till August 29

The post New Rule 1 September 2024: Many rules related to your money are going to change in September. first appeared on Rightsofemployees.com.

Many times it happens that you have many credit cards. In such a situation, if you close some of your cards, then your expenses can be reduced. But if the bank is reluctant to close the card, then you should know this rule of RBI. Actually, a rule of RBI says that if a bank delays in closing the credit card, then it will have to pay a fine of Rs 500 per day to the users.

What does the RBI rule say?

According to the rules of the Reserve Bank of India, if a customer puts a request to close the credit card, then it is necessary to start the process within 7 days. If the bank or institution issuing the card is unable to do so, then after a period of 7 days, a penalty of Rs 500 per day is imposed on it and this amount has to be paid to the customer. However, one thing is important to note that there should not be any outstanding on your credit card. This rule was introduced by RBI in the year 2022.

Also Read: FD Rate: Senior citizens are getting interest up to 9.5%, see the complete list here

Credit card can be closed in just five steps.

Closing the credit card is not a difficult process. You can close the credit card very easily.

1. Before closing any credit card, you have to pay its dues. The credit card will not be closed until the dues are paid. 
2. Many people do not redeem reward points before closing the credit card. You have earned these points by spending. In such a situation, it is your right to redeem them. 
3. Many times people put standing instructions for some recurring payments on their credit cards, like insurance premium, OTT monthly charge or something else. Clear it completely before closing it. 
4. Now you have to call the bank and tell them that you want to close the credit card. After this, they will ask for the details, after which the process will be started. 
5. After this, when your card gets blocked, cut it so that no information reaches the wrong hands. 

The post Bank is not closing your credit card? You will get 500 rupees every day, just know these rules first appeared on Rightsofemployees.com.

Paying rent through third party apps will be expensive

1 percent charge will be levied on all rental transactions done through third-party payment apps like CRED, Paytm, Mobikwik, Freecharge. This charge will be capped at Rs 3,000 per transaction. These rules will come into effect from August 1.

Extra charge will be levied on educational transactions too

Apart from rent payment, educational transactions are also going to be expensive. The charge on payment through third party apps for educational transactions has also been increased to 1%. However, there will be no charge on transactions through the college or school website or their POS machines and international educational payments.

Also Read: IMD issues alert! Heavy rain in these districts for next three days from today

Fuel transactions will also become expensive.

If you make a fuel payment of less than Rs 15,000 through HDFC Bank credit card, you will not be charged extra. However, if you make a fuel payment of more than Rs 15,000 at one go, you will have to pay 1% extra charge, the maximum limit of which is Rs 3,000.

Utility payments will become expensive

If you use a credit card to pay utility bills, then you need to be cautious. Actually, there will be no extra charge for utility transactions of less than Rs 50,000 through HDFC Bank credit card, while on payments above this amount, you will have to pay 1% charge per payment, which has a limit of Rs 3,000 per transaction.

Change in late payment charges:

The late payment fee structure has been revised based on the outstanding amount, which will range from Rs 100 to Rs 300.

Change in Tata Neu Card rules as well

If you are a user of Tata Neu Infinity HDFC Bank Credit Card and Tata Neu Plus HDFC Bank Credit Card, then there is bad news for you. There is going to be a big change in the cashback structure on UPI payments made through these two credit cards. These changes will also come into effect from August 1, 2024. Now if you make UPI payments by linking these cards to the Tata Neu app, then you will get more benefits. If you make UPI payments by linking these cards to other UPI apps except the Tata Neu app, then you will get less benefits.

The post New Credit Card Rules: These new rules for HDFC Bank credit card will be implemented from August 1 first appeared on Rightsofemployees.com.

Speaking to ET, Ankur Mittal, co-founder and CTO of CardInsider.com, said, “Only a few credit cards in India offer reward points on income tax. A few select cards, such as HDFC BizBlack and HDFC BizPower credit cards, offer reward points for tax payments. These cards offer savings of up to 16 per cent and 8 per cent on income tax and GST payments respectively.”

Milestone rewards on these credit cards

Mittal further said that apart from these, you can also use other credit cards SBI Vistara Cards/IDFC Vistara Card which also offer milestone rewards on payment of income tax such as SBI Vistara Card/IDFC Vistara Card where you can get complimentary flight tickets on reaching the milestone.

Also Read: IRDA: Insurance Amendment Bill may be introduced in Budget 2024, you will get these benefits

July 31 is the last date to file ITR.

If you have not filed income tax return for the financial year 2023-24 (AY 2024-25), then hurry up. Actually, July 31 is its last date. After this, a fine will be charged by the Income Tax Department. If someone does not file ITR even by July 31, then he is given a chance to file belated return till December 31 with a penalty.

The post Tax Saving Options: Save up to 16% on income tax payment, just pay with these credit cards first appeared on Rightsofemployees.com.

ITR Filing: The deadline for filing income tax returns for the financial year 2023-24 and assessment year 2024-25 is approaching. You can file returns till July 31, 2024 without penalty. Taxpayers can easily file income tax returns on the income tax portal without any hassle. If you also have to pay tax while filing ITR, then you can use credit card for this.

There are many benefits of paying tax through credit card

Taxpayers can also pay their taxes through credit cards. The Income Tax Department has started this facility for the convenience of taxpayers. In this, you do not have to face the problems in bank transfer or cash transaction. Through this, you immediately receive a message of payment confirmation. Usually, it takes more time through check or bank transfer. Also, taxpayers can also get the benefit of reward points on the card on tax payment through credit card. If you also want to pay tax through credit card, then we are telling you its step by step process.

This is how you can pay tax through credit card

1. After filing ITR on the income tax portal, first of all you have to generate a challan for tax payment. This document will contain the tax payable amount and the serial number of the challan.
2. Next, you have to choose the option of ‘Pay Tax’. You will see many options for tax payment on the income tax portal. This also includes the credit card payment option.
3. Next, enter the challan details.
4. In this, you have to choose the credit card payment option.
5. Next, you have to enter the credit card related details like card number, expiry date and CVV code.
6. After making payment through credit card, you will receive a confirmation message.

Keep these things in mind while paying tax through credit card

Before making tax payment through credit card, definitely get information about credit card fees. Along with this, the interest charged on credit card is very high. In such a situation, make sure that after paying the tax, you can easily pay that bill. Otherwise, later you may have to pay high interest rate and penalty.

The post ITR Filing: Pay tax quickly through credit card, know its step by step process first appeared on Rightsofemployees.com.

HDFC Pixel Play Credit Card: HDFC Bank has launched a new digital credit card ‘Pixel Play’. Users will get many benefits in this Pixel card. Customers can avail the benefits of this card as per their lifestyle. From setting the date of billing cycle, you can select the design of this credit card. You can also avail cashback by making payment at your favorite shop. Let us know the features related to the card.

How to use Pixel Play Card

To use this card you will have to install PayZapp app. Open the app and click on the option of Apply Now for PIXEL Play. On registering, the user will get a digital credit card. In this app itself you can see rewards, get EMI dashboard, get statements, get access to many services including repayments. Through the app you can also block or activate the card.

What rewards will you get?

• You will get 5% cashback on purchasing any 2 packs.
• Dining and Entertainment Category – BookMyShow and Zomato
• Travel Category – MakeMyTrip and Uber
•  Grocery Category – Blinkit and Reliance Smart Bazaar
•  Electronics Category – Croma and Reliance Digital
•  Fashion Category – Nykaa and Myntra

Get 5% cashback at any e-commerce merchant

• Amazon and Flipkart and PayZapp
• You will get 1% cashback on spending on anything else.

You will not be held responsible for any loss.

If your Pixel Play credit card gets lost somewhere and someone tries to misuse your card, then do not worry. As soon as possible, you can call the bank’s call center and inform about the loss of the card. After this, if someone misuses the card, you will not be responsible for it.

How to Redeem Cabback Points

To redeem Cashback Points you have to go to PayZapp app. There you will see the ‘Rewards’ section, from where cashback will be managed. This cashback will give you access to ‘Pixe; Will be available in the form of ‘CashPoints’. When you have 1000 cash points, you can use them in the app wallet. Also you can buy your favorite brand voucher for online shopping from here.

Who is eligible for the card?

If the age of salaried people is between 21 to 60 years and the gross monthly income is Rs 25,000 then they can buy this card. Whereas self employed people, whose age is between 21 to 65 years and ITR is ₹ 6.0 lakh annually, can avail the benefit of this card.

Read More > 

SEBI KYC: Relief to crores of investors, SEBI simplified the rules related to KYC

EPF Account Merge : Have multiple EPF accounts due to change of job? Know the easy way to merge all

Bank FD Rate Change : Interest on FD is up to 9.1%, these 4 banks have changed their rates this month, check

The post HDFC Bank launches Pixel Credit Card, these features will be available with 5% cashback, ₹ 500 annual fee first appeared on Rightsofemployees.com.

ICICI Bank Blocked Credit Card: The country’s largest private sector bank ICICI Bank has blocked 17000 credit cards. The bank has taken this step after the credit card data of 1700 customers was leaked. The bank has blocked the credit cards of all those customers whose data has been accessed by unauthorized persons. For the convenience of the customers, the bank has also released the list of customers whose credit cards have been blocked. Along with this, the bank has also said that it will issue a new card for these customers.

Customer complained about data leakage

The leak of bank credit card data has come to light after a customer complained. The customer had shared information about this on social media. Expressing apprehensions about data security on iMobile Pay App, he wrote that information like credit card number and CVV is visible in the credit card app. Card information of many unknown people was visible in this app. After this, concerns about the data security of the bank had increased among the customers.

The bank took these steps

After receiving information about the data leak, ICICI Bank has accepted the matter and said that in the recent few days, it has accepted that the credit card data of about 17,000 new customers has been leaked. But, the bank has also assured that not a single case of misuse of this data leak has come to light. Along with this, the bank said that if any customer suffers financial loss due to this, the bank will also give compensation to him. ICICI Bank said that customers should keep an eye on their credit card statements. If you notice any wrong transaction in your card, you can immediately block your card and get a new card issued.

Also Read-

• DGCA New Rules: Now flight tickets will be cheaper, DGCA has issued this new rule
• Income Tax Return Filing: Should you file income tax return now or wait till July 31?
• What is Inheritance tax: What is the inheritance tax that is levied on ancestral property? When was this tax imposed in India

The post ICICI Bank blocked thousands of credit cards, know the reason behind this first appeared on Rightsofemployees.com.

Now the economic gap between men and women is decreasing rapidly. In recent times, there has been a huge increase in the number of women becoming financially independent. However, expenses also increase with income and this is the case with women too.

Many times, money runs out before the salary arrives and then important tasks like bills or shopping get stuck. The easiest solution to this problem is credit card. If you are also thinking of applying for a credit card, then Divaa Credit Card of Union Bank of India (UBI) can be the most suitable option for you.

Diva Credit Card is only for women. Let us know what benefits you get in this and what are the conditions to apply for it.

What are the conditions to apply for Diva?
Any woman between 18 to 65 years of age can apply for Diva Credit Card. However, if you are a business woman, you get an additional relaxation of 5 years, that is, even if you are 70 years old, you will still be able to get the Diva Credit Card.

How much should your income be?
If you want Diva Credit Card, your annual income should be at least Rs 2.5 lakh. Salaried women will have to submit their Form 16/ITR along with the salary slip. At the same time, business women will have to submit ITR for two years.

What facilities are available in Diva
This is a card issued on RuPay network. In such a situation, you will be able to avail the benefit of whatever merchant or cashback is given by RuPay. This includes things like restaurants, utility bills. You also get discount vouchers at Lakme Salon, Nykaa, Myntra and Flipkart.

Besides, a health checkup package is also available in it. You also get 2 reward points for every Rs 100 spent. However, minimum 750 reward points are required for redemption. Surcharge of 1 percent on fuel purchase is also reimbursed under certain conditions.

If we talk about fees, the annual fee of Diva Credit Card is Rs 499. However, if you spend Rs 30,000 or more in a year, this fee is waived off.

RBI banned this bank! Now you will not be able to withdraw money, know what will happen now?

The post Women Credit Card : This credit card is only for women, you get mind blowing benefits first appeared on Rightsofemployees.com.

The use of credit cards has increased a lot in today’s time. Credit cards are used extensively in almost all the countries of the world including India. Credit cards provide many benefits to users, but to use them one has to pay various charges. Now users can get some relief on this front.

$30 billion settlement

An agreement has been reached between the world’s two largest card networks Visa and MasterCard, which is expected to reduce the expenses of credit card users. According to a Reuters report, Visa and MasterCard have agreed to a settlement of $30 billion. This settlement is regarding credit card fees of merchants. Settlement is also applicable on debit card fees.

Both agreed on these conditions

Both card network companies announced the settlement this week. Under the settlement, both network providers have agreed to reduce the swipe rate by 0.04 percent. This deduction will be for three years. Apart from this, it has also been agreed between both the networks that the average rate should be kept 0.07 percent lower than the current rate for the next five years.

What is swipe rate?

Both the networks have agreed to keep the rates fixed within the maximum limit for the next five years and there has also been talk of removing the anti-steering provision. Swipe rate is the fee that card networks like Visa and MasterCard charge for card transactions. Generally its rate is 1.5 percent to 3.5 percent. Card networks collect this fee from the merchant and in almost all cases the merchant passes this fee on to the customer. In many places, merchants warn the customer before making the card payment that he may have to pay this much extra.

In this way customers can benefit

The agreement between the two networks has increased the hope that it will benefit card payment customers. Actually, under the settlement, it has been left to the merchant to decide whether to pass on the benefit of rate reduction to the customers or not. If merchants pass on this benefit, customers will have to pay less extra. This settlement still needs the green signal from authorities in the US.

SBI Debit Card Charges : Shock to crores of SBI customers, more money will be charged for this work from April 1

The post Credit Card Fees: Visa and MasterCard deal, expenses of credit card users may reduce first appeared on Rightsofemployees.com.

New rule of credit card

RBI Credit Card Rules: Reserve Bank of India has made major changes in the rules related to it to provide great relief to credit card holders. The Reserve Bank has made preparations to end the arbitrariness of banks and finance companies regarding credit cards. Now customers will have the option to choose the credit card of their choice. According to the new rule, customers will not only be able to choose the card as per their wish, but will also be able to choose the billing cycle as per their convenience. In the new rule, customers will easily get the facility to change the billing or statement date of their credit card as per their convenience.

You will be able to choose credit card as per your choice

Reserve Bank of India recently issued a circular giving credit card-debit card users the option to choose card networks of their own choice. According to this circular issued on March 6, customers can ask for the card network of their choice from card issuers, be it banks or financial companies. You can choose any option of your choice from card payment networks like Visa, MasterCard, American Express, Diners Club International and RuPay.

What is the purpose of RBI?

RBI wants that banks or credit card issuing banks and non-banks should give the option of different card networks to their customers while issuing cards. At the same time, existing customers can get the facility to choose the option at the time of renewal of their card. This rule of RBI will come into effect from September 6, 2024.

New rule of credit card billing cycle

Along with choosing the card, RBI has also issued new rules regarding credit card billing. According to the new rule, existing credit card customers can change the billing cycle as per their convenience. In the new rule, customers will have the facility to change the billing cycle. The cardholder can change the billing cycle as per his convenience.

What will be the benefit to card holders?

Credit card companies give a time period to the customers. In which all the expenses incurred on the card are added up and sent to you in the form of a bill by a certain date. After the bill is generated, you have to pay the bill till the due date. This is called billing cycle. Till now only credit card companies used to decide what will be the billing cycle for the customer, but now customers will be able to change the billing cycle of their credit card at least once as per their wish.

Post Office Scheme : Great schemes of Post Office in which you can start investing from Rs 100, 500 and even Rs 1000.

The post RBI’s gift to credit card users! You will be able to choose the card as per your wish, new rule for billing also first appeared on Rightsofemployees.com.

Yes Bank has changed the rules to avail its domestic lounge access. According to the latest report of Live from Lounge Report, the bank said that all its credit card holders will have to spend a minimum of Rs 10,000 in the current quarter to get lounge access in the next quarter. Special benefits are given under lounge access facility. This includes food, WiFi facility, airport lounge access for bathing and rest.

Changes in the rules will come into effect from April 1, 2024. Credit card holders will have to make necessary spends from December 21, 2023 to March 20, 2024 to avail lounge access. Understanding the cost associated with availing lounge access, banks are no longer offering this ‘free’ benefit to customers holding only basic credit cards.

Which cardholders will it be affected by?

This rule change will impact credit cards including Yes Marquee, Yes Select (formerly Yes Prosperity Edge), Yes Reserve (formerly Yes First Exclusive), Yes First Preferred, Yes Bank Elite (formerly Yes Premia) But it is not limited to these. This will also affect BYOC and Yes Wellness Plus cards. Along with this, after HDFC Bank Group got approval from the Reserve Bank of India to increase its stake in Yes Bank to 9.5 percent, Yes Bank shares saw an increase of up to 13% on Tuesday, February 6. After this rally the share reached Rs 25.70.

Adding to the banking sector update, ICICI Bank is also set to implement changes in its standards for availing airport lounge access from April 1, 2024. Customers holding certain cards will now have to spend at least Rs 35,000 in the previous calendar quarter to unlock airport lounge access for the next quarter. Meanwhile, Axis Bank has informed its card members about the changes in ‘Axis Vistara Infinite Credit Card’. According to the report of Live from Lounge, the gold status benefit initially available for the first year will no longer start automatically from the second year.

The post Credit Card New Rule : Credit card rules are going to change from April 1, know what can be the changes first appeared on Rightsofemployees.com.

The Reserve Bank has directed banks to provide eligible customers the option to choose from multiple card networks while issuing credit or debit cards. The central bank has also asked credit card issuers not to enter into any agreement or arrangement with the card networks that prevents customers from availing the services of other networks.

The Reserve Bank of India (RBI) said in a circular, ‘Upon review, it was found that some of the arrangements existing between card networks and card issuers are not conducive to providing choice to customers.’

RBI has given these important guidelines.

The central bank said, ‘In such a situation, it is directed that the card issuers will not make any such arrangement or agreement with the card network which prevents the customers from availing the services of other card networks. .” RBI said that for existing cardholders, this option can be given at the time of next renewal of the card.

American Express Banking Corp, Diners Club International Ltd, MasterCard Asia/Pacific Pte Ltd, National Payments Corporation of India-Rupay and Visa Worldwide Pte Ltd are listed as card networks. According to the circular, card issuers and networks will have to ensure adherence to RBI guidelines in existing agreements at the time of amendment or renewal and while executing new agreements.

However, this instruction will not be applicable to those credit card issuers whose number of active cards issued by them is 10 lakh or less. Apart from this, institutions issuing credit cards on their own authorized card networks have been excluded from the instructions of this circular. According to this, the instructions to give eligible customers the option to choose from multiple card networks will be effective for six months from the date of issue of the circular.

The post Credit-Debit Card : Big update for credit-debit card users! Now the wishes of the customers will prevail, RBI has given this big right first appeared on Rightsofemployees.com.

Credit Card Issuance Rules: A big news has come for credit card issuing companies. The central bank i.e. Reserve Bank of India (RBI) has made changes in the rules for issuing credit cards. The banking regulator has issued this notification in this regard. According to this notification, the bank has decided to change the rules for issuing credit cards. According to the notification, now credit card companies will have to provide many options to the customers. The notification states that authorized card networks tie up with banks/non-banks for issuing credit cards.

RBI gave these instructions

The notification states that the choice of network for a card issued to a customer is decided by the card issuer (bank or non-bank) and is subject to the arrangements made by the card issuer in terms of its bilateral agreements. I keep the card with the network.

RBI said that on review, it was found that certain arrangements existed between the card networks and the card issuer customers. RBI said that card issuers are not conducive to the availability of options for customers.

Many options should be provided to customers

RBI said in the notification that credit card companies will have to provide many options. Companies will have to provide the option of multiple card networks to customers. RBI said that the arrangement between card networks and companies is not favorable. Companies should enter into agreements keeping in mind the interests of customers

The notification states that card issuers will not enter into any arrangement or agreement with the card network that prevents customers from availing the services of other card networks. Card issuers will provide their eligible customers the option to select multiple card networks at the time of card selection. Apart from this, it has also been said to give time to the existing cardholders for the next renewal.

Rules will not apply to these companies

Let us tell you that these rules will not apply to those people whose number of active cards issued is 10 lakh or less. Additionally, card issuers that issue credit cards on their own authorized card networks are excluded from this. Please note that these rules will remain effective for 6 months from the date of notification.

The post Credit Card Issuance Rules: Change in the rules for issuing credit cards! RBI gave these instructions to companies, read details first appeared on Rightsofemployees.com.

If you are also troubled by the high interest charged on credit cards, then credit card balance transfer is a good way for you. Under credit card balance transfer, you can transfer the outstanding balance of your credit card to another card. Its biggest disadvantage is that it involves transfer fees, but credit card balance transfer also has many benefits. Let us know.

Benefits of credit card balance transfer

The biggest advantage of credit card balance transfer is that you can transfer your outstanding balance to any such credit card. Where you have to pay less interest. Interest rates and penalties vary across cards. Because of this, you can make big savings by doing this.

Many people have more than one credit card. In such a situation, remembering everyone’s bill due date is not an easy task. In such a situation, you can consolidate all your debt at one place through balance transfer. This will also help you manage your debt. Your credit score will also improve as you will not miss any payment.

Through this, you can easily save money by paying less interest.

Disadvantages of credit card balance transfer

• One of the biggest disadvantages of credit card balance transfer is that you have to pay transfer fees.
• Your credit card utilization increases on credit card balance transfer. This directly affects your credit score.
• If you have only one credit card and you transfer the balance to a new credit card, it still has a negative impact on your credit score.

The post Credit Card Balance Transfer: You can get relief from high interest through credit card balance transfer, know what other benefits you get first appeared on Rightsofemployees.com.

Private sector ICICI Bank customers will now be able to do UPI transactions with their RuPay credit cards. This service has been started by the bank from December 1, 2023. Now customers can make UPI payments by linking their ICICI RuPay Credit Card to any UPI app including PhonePe, GooglePay and Paytm.

To whom do you pay? 

According to the information given by ICICI Bank, any person can transfer money from his RuPay credit card only from person to merchant. That means you can use it only for shopping. If you cannot transfer money to any person through this. 

How to make UPI payment through ICICI Rupay Credit Card?

To make payment through ICICI RuPay Credit Card, first of all you have to link your credit card through UPI app. After this, you can easily go to any merchant QR code and transact through UPI PIN. 

How to link ICICI Rupay Credit Card with UPI?

You can easily link ICICI Bank RuPay Credit Card to the UPI app. 

• For this, first of all you have to download the iMobilePay app of ICICI Bank. After this, open the app and go to ‘UPI Payment’. After this go to ‘Manage’ tab. 
• Now go to ‘My Profile’ and click on Create New UPI ID. 
• Select RuPay Credit Card here. Click on its procedure. After this, you can set the PIN and do UPI transaction. 

Transactions can be done with Rupay credit cards of these banks

Apart from ICICI Bank, you can also easily do UPI transactions using RuPay credit cards of Axis Bank, Kotak Mahindra Bank, SBI Card, HDFC Bank, ICICI Bank, Yes Bank, Bank of Baroda and Punjab National Bank. 

The post ICICI Bank allows UPI payments via RuPay credit cards first appeared on Rightsofemployees.com.

Apart from this, many types of discounts are also available on credit cards during shopping, this makes your deal even better. Considering all these facilities, the trend of credit cards has increased rapidly in today’s time.

You will also find some people who keep more than one credit card with them, although of course they do not use them. If you do not use the credit card, but have to pay the annual charges etc., then it is better that you close the credit card. But the question is, what is the method to close the credit card? Know about it here.

Do these things before closing your credit card

• It is very important to clear the dues before closing the credit card. Your card cannot be closed until the dues are paid.
• Whatever reward points you have earned by using that credit card. Redeem those points while closing the card.
• Before closing a credit card, turn off all auto payments and transfers.
• Check your most recent credit card statement for any last minute charges before requesting a cancellation.
• After the card is closed, cut it and throw it only then, otherwise if it falls into wrong hands then it is possible that some of your information may be stolen from it.

How to close credit card

To close the credit card, you should contact the credit card customer service of the bank and request to close the credit card. Meanwhile, the bank may ask you the reason for closing the credit card, to which you will have to answer. After this your request will be accepted. But it is possible that you may be asked to send an email etc.,

whatever steps are given to you, you will have to follow that step. Some banks also allow customers to request for credit card cancellation online. To make an online request, visit the bank’s website, fill the form and submit. After submitting the request, a bank representative will contact you to confirm the cancellation.

The post Credit card: Do these things before closing your credit card, how to close credit card first appeared on Rightsofemployees.com.

Fintech company Fibe, formerly known as Early Salary, has planned to launch India’s first numberless credit card in partnership with Axis Bank. With this card the customer will be able to get a more secure card. Because, no number will be printed on this card. Neither expiry date nor CVV number will be printed. Both the companies have given this information in a joint statement.

According to the card issuing company, this card will reduce the risk of identity theft and will also eliminate the fear of unauthorized access to anyone’s card. Because of which customers will get complete security and privacy. Customers can also easily get the details of their FIBE Axis Bank Credit Card through the FIBE app.

Many different features are also being provided on this branded credit card. One of which is flat 3% cashback on online food delivery service. This feature will also be available on booking through ride-offering apps and online ticket platforms for entertainment. Apart from this, one percent cashback will also be available on all online and offline transactions.

UPay can also be linked to this credit card powered by RuPay. The card will be accepted on all offline and digital platforms. According to the information, Tap Ant Pay feature is also provided on the card. Not only this, zero signing fee and zero annual fee has been kept on the card. This card is available to more than 2.1 million existing customers of Fibe.

Under some other facilities, the card will allow access to four domestic airport lounges every year. Also includes Axis Dining and Wednesday Delights along with fuel surcharge waiver for fuel spends between Rs 400 and Rs 5,000.

On the partnership with Axis Bank, Akshay Mehrotra, CEO and Cofounder of Fibe, said that our aim is to empower our customers with a secure payment system with the convenience of UPI payments, thereby setting a new benchmark in the credit card business.

Already popular among Celrid professionals, Fib is now entering the broader credit card market. It raised $110 million in its Series D funding last year and is now expanding its reach and launching new offerings. The fintech was recently awarded the title of Best Startup in Fintech at the G20 Digital Innovation Alliance Mega Summit.

The post New Credit Card: Axis Bank will launch new credit card, customers will get this benefit first appeared on Rightsofemployees.com.

Credit card network portability

Mobile number portability ie MNP is no longer a new thing. MNP was started with the aim of providing better service to the customers. If you are not happy with your current service provider, then you can easily port your mobile number. The Reserve Bank wants to do something similar in the case of credit cards. It is named Credit Card Network Portability.

What is Credit Card Network?

Before moving forward, let us know what is this credit card network? If you also use a credit card, then you must have seen the name of Master Card, Visa, Rupay, Diners Club etc. on your card. These are the credit card networks. Banks tie-up with these networks to issue credit cards. These networks make credit card transactions possible. In a way, they act like a bridge between different banks.

Reserve bank draft

The Reserve Bank says that customers should be given the facility to choose their preferred credit card network. The Reserve Bank has issued a draft circular regarding this. If this draft becomes a rule, then banks will not be able to hold you a credit card of any network on their own. Banks will have to ask customers which network’s credit card they want.

This facility will be available on the old card

Now the question arises that if someone already has a credit card and wants to change its network, is it possible? The Reserve Bank has also made a provision for this in the draft. Every credit card has a validity, which can be 1 year, 2 years, 4 years etc. For this you can see the expiry date of your card. After that the card has to be renewed. Old customers will get the option to change the network while renewing.

customers will be benefited

The biggest benefit from this provision of the Reserve Bank is going to be to the customers. Different networks offer different features on their cards. Some have less fees, while others give more rewards. Similarly, cashback and usage rewards are different for each network. On getting the facility to change the network, the user will be able to choose the appropriate network according to his use.

Rupees will also be lottery

Along with this, indigenous network Rupay can get a big benefit from this. The Reserve Bank has already introduced the UPI facility for credit cards. Although this facility is not for everyone. Only Rupay card users can use their credit cards through UPI. In such a situation, a large number of users can adopt Rupay after getting the facility to change the network.

The post Credit Card Portability: Credit card can be ported like mobile number, know the complete process here first appeared on Rightsofemployees.com.

If you also usually travel abroad and spend there with credit card, then this news is useful for you. The government has given great relief to the credit card users. Earlier there was talk of implementing the new rule from 1st July. Under this, there was a provision to levy TCS fee from July 1, 2023, on credit card spending abroad. Under this, if your spending abroad from credit card is 7 lakh or more, then you will have to pay 20 percent TCS. But now the government has postponed it for three months.

Tax will not be deducted

The government said that spending abroad through International Credit Cards will not come under the Liberalized Remittance Scheme. Therefore, there will be no deduction of tax on it. It has been decided to defer the implementation of Tax Deducted at Source (TCS) at the rate of 20 per cent on remittances from India abroad including travel expenses under LRS for three months. This rule will now come into effect from 1 October.

The rule will be applicable from October 1,

TCS (TCS) will not be applicable on credit card expenses abroad from October 1. TCS at the higher rate will be applicable only if the payment under the Liberalized Remittance Scheme is above the limit of Rs 7 lakh. In the Finance Bill 2023, under the Liberalized Remittance Scheme, the government had increased TCS from five percent to 20 percent on sending money from India to any other country except for education and medical, as well as buying foreign travel packages.

The limit of Rs 7 lakh has been removed

The limit of Rs 7 lakh has been removed for levying TCS under LRS. These amendments were to come into effect from July 1, 2023. The Finance Ministry said, ‘After comments and suggestions received from various parties, it has been decided to make suitable changes. Firstly, it has been decided that there will be no change in the rate of TCS for all purposes under LRS and for foreign travel tour packages with an amount up to Rs 7 lakh per person per annum. Even if the payment is not made in any way.

“It has also been decided to give more time for implementation of revised TCS rates and inclusion of credit card payments in LRS,” the ministry said. The Finance Ministry said that TCS will be levied at the rate of 5 percent on the expenditure of Rs 7 lakh per person per year for buying foreign travel packages. The rate of 20 percent will be applicable only when the expenditure exceeds this limit.

The post TCS Rates: Big relief to credit card spenders, Finance Ministry issued order first appeared on Rightsofemployees.com.

This will be useful in relation to levy of TCS (Tax collected at source) on credit card expenses abroad. A senior official said on Friday that the situation would be clarified by issuing an FAQ on levying 20 per cent ‘tax collection at source’ (TCS) on credit card payments abroad. The system of collecting TCS is going to be implemented from July 1.

It was announced to bring under the ambit of LRS

The ministry had decided to bring the expenses incurred through international credit cards under the ambit of the Liberalized Remittance Scheme (LRS), due to which 20 per cent TCS is applicable. Experts and concerned parties had expressed a sharp reaction to this. A concern was also raised about how personal and business expenses would be segregated by the banks. On this, Raman Chopra, Joint Secretary (Tax Policy and Legislation) in the Ministry of Finance, said that the government will soon issue a clarification on the implementation of the TCS provision.

Clarification will be issued after deep discussion

He said in a program of Industry Board CII, “There has been a lot of discussion with the Finance Secretary, Revenue Secretary and Finance Minister. We are definitely going to bring some clarifications and FAQs on that. This will clarify the position regarding the doubt as to how TCS is to be collected and to what extent it will not be collected. He was replying to a question on how the tax department would differentiate between business travel and personal travel for taking TCS on credit card expenses.

The post Tax department will issue FAQ regarding TCS on foreign spending from credit card, rule is applicable from July 1 first appeared on Rightsofemployees.com.

Let us tell you that there is a due date for paying the credit card bill. After the bill is issued, you have to pay the bill by that date. If you do not do this, you have to pay the penalty and there is a risk of bad credit score.

Many times people forget to pay the credit card bill on the due date. In such a situation, they are afraid of getting bad credit score. However, even after the due date, you get the facility to pay the credit card bill without penalty and your credit score does not get affected. Let us know what RBI rules say about this.

Last year, the Reserve Bank had implemented a new rule regarding credit card bill payment. In which provision has been made for bill payment without penalty even after the due date of bill payment. According to this rule, the credit card holder can pay the credit card bill without penalty for 3 days even after the due date, that is, if you have forgotten to pay your credit card bill on the due date, then in the next 3 days without extra money You can pay the given bills.

Credit score will not be affected for 3 days, according to the rules of the Reserve Bank, if you pay your credit card bill for the next 3 days after the due date, then you will neither have to pay any penalty nor will it affect your credit score. . In such a situation, if you forget to pay the credit card bill on due date in a month or the money is not arranged on time, then you will not have to worry for 3 days.

If you do not pay the credit card bill even after 3 days of the due date, then the company will charge you a penalty . The amount of penalty depends on your credit card bill. If your bill is high then you will have to pay more penalty and if it is less then accordingly less penalty will get your work done.

For example, State Bank charges a penalty of Rs 400 on a bill of Rs 500 to Rs 1,000. At the same time, it charges a penalty of Rs 750 for an amount of Rs 1,000 to 10,000 and Rs 950 for a bill of Rs 10,000 to 25,000.

The post RBI New rule: You can pay your credit card bill overdue without any penalty, know rules immediately first appeared on Rightsofemployees.com.

Although earlier the facility of UPI payment was available only through bank account. Now many banks have started the facility of UPI payment through credit card. In this episode, Kotak Mahindra Bank Rupay Credit Card users of private sector will also be able to take advantage of this facility.

Kotak Mahindra Bank’s RuPay Credit Card can be used through select UPI-enabled apps such as BHIM, Paytm, PhonePe, Freecharge, PayZapp. This means that now Kotak Mahindra Bank customers will be able to link their RuPay Credit Card with select UPI apps. You will be able to make UPI payments in exactly the same way as you do with a bank account. Just here the money will be deducted from your Rupay credit card.

The facility of Rupay Credit Card on UPI was started last year.

Let us tell you that Rupay Credit Card on UPI facility was started last year. Now you will be able to pay by credit card by scanning at the neighborhood shop. However, through RuPay Credit Card, you can pay only by scanning the Merchant UPI QR Code. Can’t make P2P payments.

Customers of 8 banks are getting the facility to make UPI payments through credit cards.
Rupay credit of 8 banks has gone live on selected UPI apps like Bhim, Paytm, PhonePe, PayZap, Freecharge. In future, you will be able to link your RuPay Credit Card with other UPI apps as well. Currently, Kotak Mahindra Bank, Axis Bank, Bank of Baroda, HDFC Bank, Punjab National Bank, Union Bank of India, Indian Bank and Canara Bank Rupay credit card holders can link their cards to select UPI apps.

How to link RuPay Credit Card with BHIM App

• First open the BHIM app.
• After this click on the linked bank account.
• Now on clicking on +, 2 options appear in Add Account – Bank Account and Credit Card.
• After clicking on the credit card, on clicking on the related card, the details of the credit card linked to your mobile number will come. (You can also do this process after clicking on the banner Rupay Credit Card on UPI appearing on the home page.)
• Now enter the last 6 digits and validity of the credit card.
• After this enter the OTP received on the mobile.
• Create UPI PIN. In this way the process of registration will be completed.

The post Good news for Kotak Mahindra Bank customers, now UPI payment can also be done through credit card, know the process first appeared on Rightsofemployees.com.

The central bank has said that Unified Payment Interface (UPI) will be linked to pre-approved credit lines of all banks in the country. With the new UPI rules in place, borrowers will be able to use UPI to buy now, pay later, such as digital credit lines. This also includes the recent permission to link RuPay Credit Cards to UPI.

Customers will get these benefits

Now the question arises that how will the customers benefit from this. Let’s find out.

• Customers will not have to carry separate cards. You will be able to pay through UPI from your mobile only.
• Apart from this, time will also be saved. It takes some time to get a credit card. Credit line will be available immediately after approval.
• The point-of-purchase credit experience will be seamless. This can bring fast growth in BNPL sector.

Digital payments grew rapidly in the country with UPI

With the launch of UPI in the year 2016, there was a revolution in the world of digital payments. UPI gave the facility to transfer money directly to the bank account. Earlier there was a trend of digital wallet. There is a hassle like KYC in Wallet, while nothing like this has to be done in UPI.

Penau is a payment system similar to UPI developed by the Association of Banks in Singapore. RBI has the operation of RTGS and NEFT payment system in India. At the same time, National Payment Corporation of India (NPCI) operates systems like IMPS, RuPay, UPI.

Let us tell you that recently the facility to pay with prepaid wallet and Rupay credit card has been added to the UPI ecosystem. Therefore, now permission has been given to levy Prepaid Payment Instrument (PPI) fees. In this way it will be easy to make UPI payments through PPIs (credit cards and wallets etc.).

The post UPI New Facility: Now there will be no need of credit card, you will be able to borrow online like this first appeared on Rightsofemployees.com.

Many banks are already offering UPI payment facility to their customers through credit cards. Now Axis Bank Rupay Credit Card users will also be able to take advantage of this facility. Axis Bank’s RuPay Credit Card can be used through select UPI-enabled apps such as BHIM, Paytm, PayZapp, Mobikwik, Freecharge.

This means that now Axis Bank customers will be able to link their RuPay Credit Card with select UPI apps. You will be able to make UPI payments in exactly the same way as you do with a bank account. Just here the money will be deducted from your Rupay credit card.

Let us tell you that Rupay Credit Card on UPI facility was started last year. Now you will be able to pay by credit card by scanning at the neighborhood shop. However, through RuPay Credit Card, you can pay only by scanning the Merchant UPI QR Code. Can’t make P2P payments.

Customers of 7 banks are getting the facility of making UPI payment through Credit Card?
Rupay credit from 7 banks has gone live on select UPI apps like BHIM, Paytm, Mobikwik, PayZapp, Freecharge. In future, you will be able to link your RuPay Credit Card with other UPI apps as well. Currently, RuPay credit card holders of Axis Bank, Bank of Baroda, HDFC Bank, Punjab National Bank, Union Bank of India, Indian Bank and Canara Bank can link their cards to select UPI apps.

How to link RuPay Credit Card with BHIM App

• First open the BHIM app.
• After this click on the linked bank account.
• Now on clicking on +, 2 options appear in Add Account – Bank Account and Credit Card.
• After clicking on the credit card, on clicking on the related card, the details of the credit card linked to your mobile number will come. (You can also do this process after clicking on the banner Rupay Credit Card on UPI appearing on the home page.)
• Now enter the last 6 digits and validity of the credit card.
• After this enter the OTP received on the mobile.
• Create UPI PIN. In this way the process of registration will be completed.
• Now scan the merchant UPI QR code and select Rupay Credit Card and complete the payment by entering the UPI PIN.
• Scan the merchant’s UPI or QR Code in the UPI app.
• Now enter the amount you want to pay.
• After this you choose the linked RuPay Credit Card.
• Now complete the payment by entering the UPI PIN.

The post Good news for Axis Bank customers! Now you can make UPI payment through credit card, know complete method first appeared on Rightsofemployees.com.

During the last one year, many banks have expanded this facility and now the name of Canara Bank has also been added to this list. Now the customers of Canara Bank can also make payment through UPI (RuPay Card UPI Payment) from their RuPay card.

The bank gave this information in the statement

Canara Bank and National Payments Corporation of India (NPCI) issued a joint statement giving this information. It was said in the statement that now the customers of Canara Bank will be able to use their RuPay Credit Card on BHIM App and other UPI Apps. When Canara Bank customers link their RuPay Credit Card with a UPI ID, they will be able to make instant, secure payments.

Benefits to customers and shopkeepers

Now Canara Bank customers will be able to take advantage of increased opportunities by having the facility to use credit cards on UPI, while merchants will also benefit as they will be able to accept credit cards using features like QR codes, NPCI said. And will be able to become a part of the credit card ecosystem.

Started last year

Let us tell you that after the MPC meeting of June last year (RBI MPC Meet June 2022), the Reserve Bank had given the facility to link the credit card with UPI. Then the RBI had said that the facility to make credit card payments on the UPI platform would provide more options to the customers than before. Linking of credit card with UPI has been started with RuPay Credit Card.

Now the customers of these banks will benefit

However, not all banks have got the green signal from the Reserve Bank to use this feature. Although almost all banks, especially government banks, issue RuPay credit cards, but only a few banks’ customers can use their RuPay cards on the UPI platform. So far, the Reserve Bank had given its approval to Punjab National Bank, Union Bank of India and Indian Bank for this. Now Canara Bank has also got this facility.

Link credit card with UPI app like this (How to link RuPay Credit Card with UPI)…

• First open the UPI payment app.
• Click on profile picture.
• Go to the Payment Settings option.
• Select the Add Credit/Debit Card option.
• Enter Card Number, Valid Upto Date, CVV, Cardholder Name etc.
• After giving all the information, click on the save button.

The post NPCI issued a joint statement! Now UPI payment will also be done through the credit card of this bank, check details first appeared on Rightsofemployees.com.

These suggestions were received regarding the change in the rules of Cheque bounce

According to media reports, the government may soon implement the new Cheque bounce rules. Regarding this, the government has also formed an expert committee of the Supreme Court. This committee has made several recommendations to the government. Apart from this, a high-level meeting was also organized by the Finance Ministry recently. During this, many suggestions have been received regarding the change in the Cheque bounce rules. After considering these suggestions, the government can implement it as a new Cheque bounce rule.

Finance Ministry is considering these steps

Under the rule of Cheque bounce, the Finance Ministry can take strict steps like deducting money from other bank accounts if there is not enough balance in the account of the Cheque issuing customers. Now you are making payment through chequebook, sufficient amount should be available in your bank account. If this does not happen then strict legal action can be taken against you (Cheque Bounce penalty). Along with this, many other steps are being considered including banning the opening of new bank accounts of the Cheque issuer in such cases.

Let us tell you that if the government accepts the recommendations made by the expert committee, then there can be many major changes in the Cheque bounce rules. So let us tell you about it…

In case of Cheque bounce, payment will be done from another bank account.

The biggest change that can be seen in the new rules is that now if you issue a Cheque for payment and there is no money in your bank account, then money will be deducted from your other bank account for payment. . Till now it is happening that even if there is no money in the bank account, if you pay through cheque, then your Cheque bounces directly. Now this rule will reduce the Cheque bounce case.

There will also be a ban on opening new bank accounts

On the other hand, if your Cheque bounces after the implementation of the new rule, then in such a case you will not be able to open a new bank account. Cheque bounce can also be seen as loan default. This is the reason why you will not be able to open your account in any other bank. Not only this, it will also affect your CIBIL score and in future, if you want to take a bank loan, then you may have to face a lot of problems.

Will there be any change in Cheque bounce penalty?

However, there is no possibility of change in the new rules regarding Cheque bounce penalty. At present, there is also a provision of punishment in the rules of Cheque bounce. Under this, in case of Cheque bounce, if a case is registered against the issuer of the cheque, a fine (Cheque Bounce Charges) can be imposed on him. In such a situation, the issuer of the Cheque may have to pay twice the amount of the Cheque payment to the other party. Along with this, there can also be a jail sentence of 2 years.

The post New Cheque Bounce Rules: There can be a big change in the rules of Cheque bounce, know quickly what will be the new rules first appeared on Rightsofemployees.com.

These changes in SBI will be effective from March 15, 2023. Earlier, SBI Card had increased the processing fee on rent payment for credit card users to Rs 99 + taxes in November 2022.

Other banks are also charging

ICICI Bank is charging a processing fee of 1% of the rent from its credit card holders. The processing fees have come into effect from October 20, 2022. HDFC Bank has limited the reward points to 500 on rent payment through credit. 1% of the transaction amount + taxes applicable from the second rental payment of the month.

Bank of Baroda is also charging 1% fee on rent payments through credit card from February 1, 2023. From March 3, 2023, credit card holders of IDFC First Bank will have to pay 1% charge on rent payments through credit cards. Kotak Mahindra Bank has started charging 1% of the transaction amount + tax from February 15, 2023, subject to certain conditions.

Apart from credit card companies, third-party platforms also charge.
Many tenants enter the landlord’s bank account details or UPI address in the recipient’s option on platforms like Paytm, Cred, NoBroker, PayZap, Red Giraffe, Mobikwik, PhonePe and credit Used to pay by card. However, these third-party platforms charge a convenience fee for making rent payments through credit cards.

Mobikwik- 2.36% extra charge for rent payment by credit card PhonePe- 2% extra charge for rent payment by credit card Paytm- 1.75% extra charge for rent payment by credit card

The post SBI card increased the fee of ₹ 99 to ₹ 199, when will the new charge be applicable, how much is the fee in other banks first appeared on Rightsofemployees.com.

State Bank of India Cards and Payment Services has changed the charges and fees of SBI Credit Card. The new charges will be effective from March 17, 2023. According to an SMS and email sent to SBI card customers, customers who were paying their fare through credit cards will be charged Rs 199 + taxes, going over Rs 99 + applicable taxes. SBI Card had increased the processing charge by 18 per cent to Rs 99 plus GST on rent payments made using credit cards in November 2022.

SBI Credit Card Charges and Fees at a Glance

1. Annual and renewal fees: Annual fees and renewal charges are applicable on SBI Credit Card (SBI Card). Annual fee is one time charge and renewal charge is taken every year. These charges differ from cardholder to cardholder and for multiple types of cards.
2. Cash Advance Fee: The Cardholder can use the Card to withdraw cash from Domestic/International ATMs in case of emergency. Transaction charges will be levied on all such withdrawals and will be billed to the cardholder in the next detail. A transaction charge of 2.5% or Rs 500, whichever is higher, will be levied at domestic ATMs and 2.5% or Rs 500, whichever is higher, at international ATMs.
3. Cash Payment Fee: Cardholder can make SBI Credit Card payment at select State Bank of India (SBI) branch by mentioning his credit card number and the amount in the pay-in slip and depositing it at the branch counter. The card holder will be given an instant payment acknowledgment slip. This facility is available at Rs 250 + taxes.
4. Interest Free Grace Period: The interest free loan period can range from 20 to 50 days, subject to the submission of the claim by the merchant.
5. Finance Charges: Finance Charges at monthly interest rate will be levied on all transactions including unpaid EMI installments from the date of transaction, in case the Cardholder chooses not to pay the full balance amount and on all Cash Advances availed by the Cardholder Is.

The post SBI Credit Card Charges Increased: Changes in SBI Credit Card charges and fees, check new charges here first appeared on Rightsofemployees.com.

With the facility of RuPay Credit Card on UPI, you will be able to pay with your credit card by scanning the UPI QR code installed at the neighborhood shop. However, through this feature, you can pay only the merchant UPI QR code. Can’t make P2P payments.

Rupay credits of 4 banks have also gone live on BHIM App Rupay credits of 4 banks have gone live on
NPCI operated BHIM App and PayZapp App operated by HDFC Bank. Rupay credit card holders of Punjab National Bank, Union Bank of India, Indian Bank and HDFC Bank can link their cards to the BHIM app. By March, the facility of linking SBI card, ICICI Bank and Axis Bank’s Rupay credit card with UPI is also expected to start.

How to Link Rupay Credit Card with BHIM App
>> First of all open BHIM App.
>> After this click on the linked bank account.
>> Now on clicking on +, 2 options appear in Add Account – Bank Account and Credit Card.
>> After clicking on Credit Card, on clicking on the related card, the details of the credit card linked to your mobile number will come.
>> Now enter the last 6 digits and validity of the credit card.
>> After this enter the OTP received on the mobile.
>> Create UPI PIN. In this way the process of registration will be completed.
>> Now scan the merchant UPI QR code and select RuPay Credit Card and complete the payment by entering the UPI PIN.

The post Rupay Credit Card on UPI: Through this feature, Rupay Credit Card can be linked to the UPI app. first appeared on Rightsofemployees.com.

The interest rate charged on credit cards ranges from 40-45 percent on an annual basis. Announcing the RBI MPC today, Governor Das said that the penalty and interest charged on loans or credit cards cannot become a source of profit for them. The Reserve Bank is working in this direction and very soon it will fix the penalty rule on loans and credit cards.

Transparency is necessary regarding penalty and interest rate

Giving information about the decisions taken in the RBI MPC meeting, it was said that there is a need for transparency and proper guidelines regarding the penalty and interest rate on loans and credit cards. At present, each credit card issuing entity decides on its own interest and penalty. At present, there is no such guideline on the basis of which the decision regarding penalty and interest should be taken.

SBI Card charges monthly interest up to 3.5%

For example, SBI card charges up to 3-3.5% interest on payment after the due date. If the minimum amount is not deposited till the due date, then the hefty amount is also recovered as a penalty. At present, interest is calculated from the transaction date if the full payment is not made on the due date. However, later after the instructions of RBI, its calculation is being done from the due date of payment. Despite this, there is still no uniformity in this regard.

The Reserve Bank will first prepare a draft related to the guidelines. After this, it will be discussed together with different stake holders like banks, multiple entities and borrowers and then the final guideline will be issued. When the final guideline will be issued by RBI in this regard, it will be applicable to all banks, NBFCs and other financial entities.

Additional interest up to 1-2% per month

Apart from credit cards, charges on various types of financial transactions including loan EMI, check bounce will be included in the purview of RBI guidelines. The aim of the Reserve Bank is to bring transparency and uniformity regarding all types of charges. At present, a penalty of up to 1-2 per cent is imposed every month for not paying the EMI on the loan on time. Apart from this, late fee charge is also charged separately. The rules for each entity are different.

The post RBI issue new guideline for credit card! Big news for credit card holders, up to 40% interest is charged on late payment, check new guideline first appeared on Rightsofemployees.com.

This card can be used at all merchant outlets or online websites that accept RuPay cards. The company said in a statement that this credit card is capable of meeting the needs of the personnel selflessly engaged in the service of the country.

Card Features Details

• Vikram Credit Card customers get 3 months complimentary Disney Hotstar subscription upon card activation.
•  Through this card, you get 5 reward points on every Rs 100 spent in grocery, movie and departmental stores.
• 1 reward point for every Rs 100 spent on other categories.
• Accidental death cover of Rs 20 lakh is available on this credit card.
• Fuel surcharge of 1 percent will not have to be paid on payment of fuel purchase from Rs. 400 to Rs. 5 thousand at petrol pumps with this card. A maximum of Rs 250 fuel surcharge can be waived in a billing cycle.
• This card is equipped with contactless technology, which also gives customers the facility of ‘tap and pay’ i.e. without swiping the card, payment can be made by just tapping on the POS machine.

Life Time Free Card

Vikram Credit Card is a Life Time Free Credit Card. There is no joining or annual fee for this card.

The post Vikram Credit Card: Bank of Baroda launched Vikram Credit Card, know here benefits & Card Features Details first appeared on Rightsofemployees.com.

But as per the new rules, you can save yourself from paying penalty charges even if you don’t make the payment on the due date. Reserve Bank of India (RBI) has provided the option of payment to the customers without any charge after the due date is out.

RBI has told banks and credit card issuers that they can take penalty only after three days of due date. It means to say that if you have missed the credit card payment due date, then you can make the payment within 3 days of the due date.

Three days chance

According to the master direction for credit cards and debit cards issued on 21 April 2022, the RBI has said that the credit information companies (CICs) that issue the cards will show the credit card account as past due. Penalty charges, late fee or other charges on delay will be applicable only then. When the credit card account remains outstanding for more than three days. That is, if you make the credit card payment within three days after the due date, then you can avoid the penalty.

Credit score will not be affected

In such a situation, if you have missed the credit card payment due date, then you can make the payment within three days of the due date. In this, you can also avoid the penalty imposed on late payment. If you pay within three days, your credit score will not be affected.

Have to pay late fees

Banks and credit card companies usually levy pre-determined late payment charges based on the outstanding balance. This results in late fees increasing in proportion to the size of the outstanding balance. The higher the amount of the bill. The more late fees are charged.

The post RBI Issued notification! Credit card missed payment due date avoid late payment fee, know details first appeared on Rightsofemployees.com.

Apart from this, a new portal has been created by the Income Tax Department for form correction and income tax return filing. Apart from all these amendments, the Income Tax Department has also unveiled a new system for paying taxes (itr filing) . Taxpayers can now pay their taxes using credit card or UPI as well

Any taxpayer can pay his taxes on the NSDL website using the facility provided by the Income Tax Department with the help of a debit card issued by an authorized bank and net banking from 16 banks.

If you’re in this situation and don’t have an account with one of these banks, paying your taxes can be difficult, but you don’t need to worry.

Pay through these also As part of the new service provided by the Income Tax Department, apart from debit cards, tax payments can also be made through credit cards, online banking, pay-at-bank counters, UPI, RTGS and NEFT. Could

How to pay using UPI and Credit Card?

• First of all login to the e-filing portal using your username and password.
• Now from the menu of the e-file portal, select the new payment option under the e-pay tax option.
• Select the type of tax you want to pay and then proceed.
• Select the assessment year and the tax year for which you want to make the payment.
• After that, provide the details on the tax breakup which includes the details of tax, surcharge, cess etc.
• Now, you can pay using Credit Card, Net Banking Account, Bank Branch, UPI, RTGS or NEFT.
• Any of these payment methods can be used to pay taxes.
• Download e-invoice as soon as the payment is done. In addition, the Income Tax Department will send you postal and SMS notifications on tax payments.

The post Income Tax Update: The government has made some new rules regarding filling ITR which you need to know first appeared on Rightsofemployees.com.

Even people have reduced the use of debit cards and credit cards. Perhaps you do not even know when you made the last time payment with debit card. For this reason, growing companies like MasterCard and Visa Card are also in tension because the transactions with their cards are decreasing. Due to which their income has also been affected. 

In such a situation, after linking debit cards and credit cards with UPI, people may promote credit cards. However, there will be a charge on this. But if you have a card of a particular network, then you will be able to pay up to Rs 2 thousand without any charge. Now we are telling how you will be able to link credit and debit cards in your wallet. 

How to link credit card on PhonePe ( PhonePe upi link Credit Card)  

1. Go to PhonePe and click on your profile picture. 
2. Go to the View All Payment Methods option.
3. Tap on ADD CARD under Credit/Debit Cards.
4. Enter your card details and tap on Add option.
5. Enter the OTP and submit it.

Link credit card on Google Pay like this ( Google Pay upi Link Credit Card)  

1. Open Google Pay and go to your profile.
2. Select the option to select a credit card by tapping Pay Businesses or set up payment methods.
3. After processing you have to scan your card. You can also enter your details manually. 
4. Enter the expiry date and CCV and save it.
5. After reading the terms, click on More and then Accept & Continue. 
6. You will get OTP on the registered mobile number, after entering which the process will be completed.

How to do this linking on Paytm (Paytm UPI link Credit Card Link)

1. Go to the Paytm app and click on your profile picture. 
2. Go to the payment settings and click on the Saved Cards option. After that tap on Add New Card.
3. Paytm will deduct Rs 2 from your card for this and then refund it in the next two days. 
4. On processing you will be asked for card details. After selecting ‘save card as per latest RBI guildelines’, pay Rs.
5. Then complete the process by entering OTP. 

How to use credit card on UPI  

PhonePe

Scan the merchant’s QR code by going to the app. Enter the amount. Select your credit card and enter CVV. Further process will be automatic. If you want to stop the payment here, you have to select the tap and hold option to stop the OTP from being sent

Google Pay

Go to App. Enter the amount here, select the card and make the payment. For this you will get OTP, enter it then you will get payment confirmation. 

Paytm

1. Go to Paytm Wallet visible in My Paytm.
2. Enter the amount and add it to the wallet.
3. Pay by entering your credit card and CVV details.

No charge up to Rs 2000 

NPCI has refused to charge merchant concessional rate (MDR) on RuPay credit cards up to Rs 2000, that is, if you have a RuPay credit card, then you can pay up to Rs 2 thousand without any extra charge. . 

The post Credit Card UPI Payment: Good News! Use credit card like this on Phone Pay, Google Pay, will not charge up to Rs 2000 first appeared on Rightsofemployees.com.

RuPay Credit Card is operational for the last four years, and is linked to all major bank and is issuing incremental cards for both commercial and retail sectors. “During credit card on-boarding on the Apps, device binding and UPI PIN setting process shall be included as customer consent to enable the credit card for all types of transactions,” the circular issued on October 4 said. will be considered.’

The National Payments Corporation of India (NPCI) said in the circular that the existing process of the app to enable international transactions will be applicable to credit cards as well. It is noted that Nil Merchant Discount Rate (MDR) for this category will be applicable up to transaction amount less than and equal to Rs.2,000.

MDR is the cost paid by a merchant to a bank for accepting payments from its customers via credit or debit cards, whenever the card is used for payment in their stores. The merchant discount rate is expressed as a percentage of the transaction amount. It was informed that this circular is in force from the date of issue and members are requested to take note of the contents of this circular and bring it to the notice of the concerned stakeholders.

As per the circular, the UPI app will ensure complete transparency on the transactions made by the customer using the credit card through easily accessible transaction history and clearly visible user interface while making the payment.

The post Good news for online payers: Now no charge will be levied on UPI payment up to Rs 2,000 with this credit card first appeared on Rightsofemployees.com.

People are shopping a lot in the festive season (Credit Card Offer). The most special feature of the credit card is the facility of cash advance. However, nowadays due to Online Shopping Credit Card Offer, people do not need to withdraw much cash.

But still many people are using their credit cards to withdraw cash from ATMs. This is because people are spending more in the circle of offers. In such a situation, is it the right step for people to withdraw money from their credit cards? According to experts, doing this is right or wrong. Can this cause you a big loss in future?

Avoid Cash Withdrawals

According to experts, withdrawing money from credit cards at ATMs should be avoided. This is because the bank levies a lot of interest and charges on cash withdrawal. Apart from this, if the credit card holder does not pay the minimum amount, then his CIBIL score is also affected. Withdrawal from credit card attracts a cash withdrawal charge of 2.5 per cent to 3 per cent. Apart from this, the charge for the number of days you do not deposit money also gets added on a daily basis.

Four percent interest is charged!

Apart from this, you have to pay four percent interest every month. Accordingly, in addition to interest, you also pay many types of charges. Apart from this, you will not get any kind of reward points on payment by withdrawing cash from the card. Apart from the interest, the bank also charges cash withdrawal fee from you.

For example, if you have a Flipkart credit card of Axis Bank, if you withdraw cash from it, then the bank will charge you Rs 500 or 2.5 percent in the name of withdrawal fee. Apart from this, more than 50 percent interest will be charged on an annual basis. In such a situation, you may have to pay a charge of thousands of rupees.

CIBIL score gets worse

If you have done cash withdrawal from credit card then it completely spoils your CIBIL score. Due to this the banks think that your financial condition is very bad and because of this you should never use your credit card to withdraw money from ATM.

The post Credit Card Cash withdrawal charges, know full details first appeared on Rightsofemployees.com.

This move of the government can give a big boost to the UPI payment system in the country. There can be a big increase in the transactions done through UPI. Till now payment could be made only through credit card through means like internet banking and POS.

Three banks got approval Initially, only RuPay credit cards have been allowed to be linked with UPI by RBI. At present, only Punjab National Bank, Union Bank of India and Indian Bank have been approved by RBI i.e. the credit cards of these banks can be used for UPI payments at present.

UPI Lite launched

Along with this, ‘UPI Lite’ has been launched by NPCI. This will accelerate low value transactions. With the help of UPI Lite, users will be able to do low value transactions through offline mode. NPCI said that through ‘UPI Lite’, users will be able to easily transact faster than before. More than 50 percent of UPI transactions are less than Rs 2,000. This will also reduce the debit load on banks.

Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India and Utkarsh Small Finance Bank have been initially approved for UPI Lite.

UPI transactions According to the information given by NPCI, in August 2022, UPI had done 6.58 billion transactions. Its total value during this period was around Rs 10.73 lakh crore.

The post UPI payment approved by credit card, initially customers of these three banks will be able to avail benefits first appeared on Rightsofemployees.com.

Right now Paytm is offering good discounts on domestic and international ticket booking. This offer of Paytm has started from 15th September and this offer will last till 17th September only. This discount is available on booking of Vistara, SpiceJet, GoFirst and all other major airlines. Along with this, Paytm is also giving cashback on bus tickets during the sale.

Along with this, Paytm is offering up to 18 percent off on domestic flights and up to 12 percent off on international flight bookings. The good thing is that this offer is available on all major flights GoFirst, Vistara and SpiceJet. Users can also avail offers exclusively on ICICI Bank (Credit Card, Credit Card EMI, Net Banking), Citi Bank (Credit Card, Debit Card, Credit Card EMI), RBL Bank (Credit Card, Debit Card, Credit Card) Will be able

Paytm is also offering special fares for armed forces, senior citizens and students along with additional discounts. Paytm is offering cashback offer on booking through Paytm UPI, Paytm Wallet, Paytm Postpaid, in addition to payment from all major UPI apps and debit cards, credit cards and prepaid cards. For further convenience, users will be charged zero convenience fee on ticket booking.

Paytm is providing these facilities

Paytm is offering up to 25 percent cashback on bus bookings along with additional 10 percent discount on specific operators. The company also said that if users cancel tickets under cancellation protection without any questions, then they will be refunded 100% of the money. Paytm is offering zero payment gateway charges on UPI payments for train ticket bookings. Paytm has recently introduced features like live train status tracking, tatkal booking and 24X7 customer support for all train passengers. Paytm users also have the facility to check the PNR status of their bookings on the app.

The post Paytm Cashback Offer: Paytm is offering bumper offer on flight tickets, know how much cashback you are getting first appeared on Rightsofemployees.com.

You will also get discount on movie tickets, reward points are available on every transaction done with the card. Apart from this, the customer also gets the facility of complimentary domestic airport and railway lounge. There will be no fuel surcharge on this and discounts will also be available on movie tickets. Personal accident insurance is also available on ICICI RuPay Credit Card. Apart from this, exclusive accidental insurance of Rs 2 lakh is available on RuPay card.

NPCI An indigenous card payment network

ICICI Bank’s credit card head Sudipta Roy while launching this card said that we have always given priority to the convenience of the customers. NPCI is an indigenous card payment network. Talking about the facilities available on Coral RuPay Credit Card, apart from fuel, you will get 2 reward points for every 100 rupees spent.

One reward will be given for every Rs 100 spent in the utility and insurance categories of maximum 10 thousand reward points annually. 2000 bonus reward points will be given if a transaction of 2 lakhs is done annually with the card. After that you will get 1000 bonus reward points for every lakh spent. Only a maximum of 10 thousand reward points will be available annually. Apart from this, lounge facility will be available at the domestic airport and selected railway station in complimentary benefit.

The post ICICI Bank Credit Card: ICICI Bank has issued Coral RuPay credit card, what is its specialty first appeared on Rightsofemployees.com.