Various rules for bank and precautionary funds will change from Wednesday 1 December, which will affect the day-to-day banking customer. From credit card to savings account to retirement, every person with a bank account should know about these changes, while prices of essential items like LPG and matchbox also go up from Wednesday.
Here are five changes that can affect your daily life:
SBI credit card
Credit cards issued by the State Bank of India are expected to become more expensive from today. According to the information provided by SBI, credit card holders will now have to pay a processing fee of 99 plus tax separately for each EMI purchase or conversion of transactions into EMIs.
PNB savings accounts interest rate
The Punjab National Bank (PNB) has reduced the interest rate on savings deposits for small savings accounts by 10 basis points and by 5 basis points for those with an account balance of 10 lakh and above. As a result, those with an account balance of less than 10 lakh will receive 2.80% interest per annum while those with 10 lakh and above will receive 2.85% interest per annum.
Life Certificate for retirement
The Pension Benefit Authorities (PDAs) will only pay the pension money due to employees of central and state governments once they have submitted their life certificate – proof that is needed to check if the pensioner is still alive. The deadline for submitting the document was November 30. If you have not yet submitted the life certificate, your pension for the month may be affected.
EPF link with Aadhaar
If you are an employee of the business sector, you will need to link your Aadhaar details to your Employees Provident Fund Organization (EPFO) account. The last date to link Aadhaar with UAN was 30 November.
At a time when consumers are struggling to cope with inflation, even the price of a luciferous box has risen. From December onwards, a lucifer box would cost 2 from the present 1, an increase that comes after a gap of 14 years. However, out of 36 lucifers in a lucifer box, customers now get 50 matches with the increase in the price of the lucifer boxes.
Similarly, LPG gas cylinder prices are also expected to change from December. The rates of LPG cylinders are reviewed on the first day of each month.