HDFC Bank latest news: Just before the meeting of the Monetary Policy Committee (MPC) of the Central Reserve Bank, HDFC Bank has given a big shock to the customers. Private sector giant HDFC Bank has increased its repo-linked home loan interest rates by 10-15 basis points. With this increase, the interest rate has come in the range of 8.70 percent to 9.8 percent.

What did the bank say on the merger

The bank clarified on its website that the change in home loan rate is due to the merger of HDFC Bank and HDFC on July 1, 2023 and it will no longer be linked to the Retail Prime Lending Rate (RPLR). The bank has clarified that the new repo linked interest rate is applicable to new customers. Old customers can continue with RPLR.

Let us tell you that the meeting of the six-member Monetary Policy Committee (MPC) of RBI will be held from April 3 to April 5, which will be the first meeting of the new financial year 2024-25.

What interest rate of which bank?

The current home loan interest rates of ICICI Bank range between 9 percent to 10.05 percent. State Bank of India home loan rates range from 9.15 percent to a maximum of 10.05 percent. At the same time, Axis Bank is offering comparatively lower interest rates on home loans to its customers ranging from 8.75 to 9.65 percent. The initial interest rate of Kotak Mahindra Bank home loan is 8.70 percent.

When and how many meetings of the Monetary Policy Committee

RBI announced the schedule of bi-monthly meetings of the Monetary Policy Committee (MPC) for the new financial year (2024-25). The first meeting will be held from April 3 to 5. The next meeting will begin on June 5 while the monetary review will be announced on June 7.

After this, the next meeting will be held from 6th to 8th August, then from 7th to 9th October, then from 4th to 6th December and the last meeting will be held in February. It will take place from 5th to 7th February.

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HDFC Bank News Rules: There is an important update for crores of customers having accounts in private sector HDFC Bank. If you are also taking advantage of the services of this bank, then this is useful news for you. The bank is going to make a big change from January 1, 2023 (1 January 2023). The bank has given information about this change by sending a message.

There will be a big change from January 1, HDFC Bank has told the customers that there is going to be a big change in the credit card rules, this change will be implemented from the new year. The bank has decided to change the reward point and fee structure of the credit card.

The bank has given information on the official website as well. The bank has also informed about these changes on its official website. The bank has given information about this in 6 points. The bank has prepared to impose fees on many types of payment transactions. Apart from this, the fee structure has also been changed on payment.

Where can I use the reward points?

The bank has said that the reward points on grocery transactions will be limited to one per calendar month. Apart from this, the reward systems of different cards are also different. You can take advantage of these reward points for rent payments, flight and hotel bookings.

There will be many types of changes-

>> Apart from this, there will be no reward point on rent payment.
>> Reward points will be available only on certain cards on government transactions.
>> Reward points have also been limited on education related transactions.
>> Reward points on Tanishq vouchers will be limited to 50,000 on Infinia cards.

1 percent extra charge will be levied on the rent, apart from this, the bank will also change the payment of the rent through the third party merchant. The bank has said that 1 percent fee will be charged on such payment from January 1. This charge will be taken from the customers on the rental transaction of the second month.

The post Big update for HDFC Bank customers, bank will make these changes in rules from January 1, know immediately today… first appeared on Rightsofemployees.com.