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Tuesday, 29 June 2021

Banking-related rules will change from July 1, making withdrawals more expensive; These 7 changes will take place from next month

Banking-related rules will change from July 1, making withdrawals more expensive; These 7 changes will take place from next month

Many changes are going to take place across the country from 1st July. It will have a direct effect on your pocket and life. So you need to know the rules already. Withdrawals from IDBI and SBI banks will be expensive from July 1. Here are 7 changes that will affect you.









The SBI also changed the rules

From July 1, bank customers will have to pay extra for many of their work. According to the bank, from July 1, customers will have to pay extra for withdrawing money from ATMs and using checkbooks. All of these rules will apply to a Basic Savings Account Deposit (BSBD) account. Withdraw 4 times from SBI ATM or bank branch will be free. After that, after free limit, cash withdrawal will be charged at Rs 15 and GST. Apart from that, you will also have to pay extra for taking the checkbook.


Withdrawing money from IDBI Bank will be expensive

IDBI Bank is going to change the check leaf charge, savings account charge, and locker charge from July 1. The bank has reduced the free facility for cash deposits (home and non-home) to 5-5 times in the semi-urban and rural branches from the current 7 and 10 respectively. In addition, customers will now only receive a free 20-page check book each year. Customers will then have to pay Rs 5 for each check. Apart from that, senior citizens will get the discount on the locker when their monthly average balance (MAB) is 10 thousand.


Cannot invest in special FD scheme

SBI, HDFC Bank, ICICI Bank and Bank of Baroda launched Special FDs for Senior Citizens. This special scheme is coming to an end on June 30, 2021. Under these schemes, senior citizens are getting higher interest as compared to normal FD. From July 1, you will not be able to take advantage of these special schemes.


Syndicate Bank customers will have to use the new IFSC code

Syndicate Bank has merged with Canara Bank so the bank's IFSC code will be changed from July 1. In such a case, the existing IFSC code of Syndicate Bank branch will work only till June 30, 2021. The bank's new IFSC code will come into effect from July 1, 2021. Syndicate Bank customers will now have to get a new IFSC code for their bank branch.


Like the base, the unique identity of each piece of jewelery will be indisputable

If the jewelry is stolen and lost, it will now be easier to identify its real owner, although this will happen if it has not been melted down and given a new look. Just as all the citizens of the country are identified by UID in the Aadhaar card, the government is going to make UID mandatory for every piece of jewelery from July 1.


LPG cylinder prices may change

On the first day of every month the Central Government announces the price of LPG cylinders. Last month, the government reduced the price of a 19-kg commercial LPG cylinder by Rs 122.

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Interest rates on small savings schemes can be reduced

Small savings can be a daunting task for those who invest in small savings schemes. The government also cut its interest rates in March for the April-June quarter. But this reduction was later withdrawn. PPF, Sukanya Samrudhi Yojana, Kisan Vikas Patra, Senior Citizen Savings Scheme, National Savings Certificate, Monthly Income Scheme, Time Deposit and Recurring Deposit Scheme come under Small Savings Scheme.

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