Bank service

5 key changes to be effective in June

New Delhi | Jagran Business Office: While there are only a few days left for the month of June to kick off, several changes are planned from June 1st related to financial matters. These changes include revisions to bank and insurance rates, LPG cylinder prices and ATF fuel prices. They will have a direct impact on the pocket of the common man. It is therefore important to know them. Here’s everything you need to know:

Hike in Axis Bank service fees

From June 1, Axis Bank’s banking and non-banking service fees for its customers with savings and salary accounts at the bank will be increased. The increase will include an increase in the monthly service charge for failing to maintain the minimum account balance and an increase in the monthly average balance requirement. From June 1, Axis Bank users will be required to secure a required monthly average balance of Rs 25,000 and secure an increased minimum account balance.

Increase in interest on SBI home loans

From June 1, the SBI’s external benchmark lending rate (EBLR) on home loans will be raised by 40 basis points to 7.05% and the repo-linked lending rate (RLLR) will be revised to 6, 65% plus CRP.

Cars and bikes will become more expensive

Cars and bikes will also become more expensive from June 1. The increase is due to the fact that the Ministry of Road Transport and Highways (MoRTH) is preparing to increase the motor third party liability insurance premium for different categories of vehicles from June 1.

Rise in the price of LPG

Amid rising crude oil prices and inflation, gas companies are expected to raise LPG prices again next month. Although domestic LPG prices have been rising recently, they are likely to rise in the coming month.

ATF Price Rise

ATF or jet fuel prices are also expected to rise from next month. Generally, ATF prices are increased on the 1st and 16th of every month. Therefore, the increase is planned from June 1st.

Posted by:
Sugandha Jha