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Several banking and provident fund-related rules will change starting Wednesday, December 1 which will impact the everyday bank customer. From credit card to savings account to pension, any person with a bank account must know about these changes, while prices of essentials like LPG and matchbox are also going up from Wednesday.
Here are five changes that can affect your day-to-day lives:
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 cardholders will now have to pay a processing fee of ₹99 plus tax separately for every EMI purchase or converting transactions into EMIs.
PNB savings accounts interest rate
The Punjab National Bank (PNB) has slashed the interest rate on saving 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 get 2.80% interest per annum, while those with ₹10 lakh and above will get 2.85% interest per annum.
Life Certificate for pension
The Pension Disbursing Authorities (PDAs) will disburse the due pension money for central and state government employees only if they have submitted their Life Certificate – a proof required to verify if the pensioner is still alive. The deadline to submit the document was November 30. If you have not submitted the Life Certificate yet, your pension for the month may be affected.
EPF linkage with Aadhaar
If you are an employee of the corporate sector, you must link your Aadhaar details with your Employees Provident Fund Organisation (EPFO) account. The last date to link Aadhaar with UAN was November 30.
Price hike
At a time when consumers are struggling to cope with inflation, even the price of a matchbox has been increased. From December, a matchbox would cost ₹2 from the current ₹1, an increase that comes after a gap of 14 years. However, from 36 matchsticks in a matchbox, customers will now be getting 50 matches with the increase in the price of the matchboxes.
Similarly, LPG gas cylinder prices are also expected to change from December. The rates of LPG cylinders are revised on the first day of every month.
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