Financial Changes In September: With September starting tomorrow, individuals must be gearing up for the festive season. However, in the midst of all the celebrations, it is also essential to keep in mind any changes in financial rules and deadlines for new schemes in the month. To make sure that you don’t miss out on anything, here are the major financial changes lined up for September, as compiled by Paisa Live.
Aadhaar Update
The Unique Identification Authority of India (UIDAI) extended the deadline to update the Aadhaar documents online for free by three months. The earlier deadline was June 14, 2024 and the current deadline is September 14, 2024. After this, individuals will have to pay to get their Aadhaar updated online.
Credit Card Rules
The Reserve Bank of India (RBI) has instructed card issuers such as banks to not sign any exclusive contracts with card networks, so that the customers have the option to select their own card network based on their choice. The new rule will be effective from September 6, 2024.
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HDFC Bank Credit Card Loyalty Program
HDFC Bank is bringing in some changes to the loyalty program for its credit card customers, applicable on select credit cards. These rules will come into effect from September 1, 2024 and have been notified to the customers via email.
IDFC First Bank Credit Card Terms
The IDFC First Bank will be rolling in new rules regarding its credit card payment from September 1, 2024. These changes will include revisions to the payment due dates and the minimum amount due. As part of the new terms, the lender will be implementing a shorter payment due date to 15 days from the statement generation date. Therefore, if you fail to check these rules and make your payments in time, it might end up costing you.
Also Read : Bank Holidays: Branches To Remain Shut For 14 Days In September 2024, Check State-Wise Holiday List Here
IDBI Bank’s Special FD Schemes
IDBI Bank has launched special fixed deposit (FD) schemes, named, Utsav FD Scheme. The deadline for this scheme is September 30, 2024. The scheme provides customers a limited-time option to open a FD for 300, 375, 444, or 700 days. The bank says that senior citizens will get the chance to earn 7.55 per cent interest rate in the 300 days scheme, while the yield for regular customers will be 7.05 per cent. Further, the scheme with a tenure of 375 days would give customers a return of 7.15 per cent, while the same for senior citizens will be 7.65 per cent. However, these are limited-time offers and will not be available for individuals after the last date.
Other banks like the Indian Bank and the Punjab and Sind Bank are also offering special fixed deposit schemes to customers with the deadline of September 30.
RuPay Credit Card
According to a new rule by the National Payments Corporation of India (NPCI), the RuPay credit card and UPI transaction fees would not be deducted from any reward points or other advantages. The directive comes into effect from September 1, 2024.