June brings a fresh wave of updates that could affect your money, whether you’re managing a household, planning your savings, or using credit cards. Here’s a simple breakdown of the major changes starting this month and what they mean for your daily finances.
LPG Cylinder Prices Drop for Businesses
If you use commercial LPG cylinders, there’s some good news. The price of a 19-kg commercial LPG cylinder has been reduced by ₹24. In Delhi, this means you’ll now pay ₹1,723.50 for each cylinder. The price for regular 14-kg domestic cylinders remains unchanged.
EPFO 3.0: Easier Access to Your Provident Fund
A major upgrade is rolling out for Employees’ Provident Fund (EPF) members. The new EPFO 3.0 system aims to make withdrawing your PF money much simpler and faster. With this update, you’ll soon be able to access your funds through ATMs and UPI apps, cutting down the wait time and paperwork.
Last Chance for Free Aadhaar Updates
If you need to update your Aadhaar card details, you can do it online for free until June 14, 2025. After this date, updating online will cost ₹25, and visiting an Aadhaar center will cost ₹50. Make sure to check your details and update them before the deadline to avoid these charges.
Credit Card Rules Are Changing
Several banks are updating their credit card policies this month:
- Kotak Mahindra Bank is capping reward points on payments like rent, fuel, utility bills, and insurance. If you spend more than the monthly limit on fuel, a 1% fee applies. Rent and education payments will also have a 1% charge, and extra fees are coming for wallet top-ups and online gaming.
- HDFC Bank is changing lounge access rules for Tata Neu Infinity and Tata Neu Plus cardholders. From June 10, access will be given through vouchers based on your spending, not just by swiping your card.
- Axis Bank will start phased changes to its REWARDS Credit Card from June 20, affecting cashback, reward points, and lounge access.
Fixed Deposit Rates Go Down
Suryoday Small Finance Bank is lowering its fixed deposit (FD) interest rates by up to 0.60%. For deposits below ₹3 crore, the new rates will range from 4% to 8.4%, depending on the tenure. This is a good time to review your savings plans if you rely on FD interest.
