Major Financial Changes Starting June 1, 2025: Here's What You Need To Know

Whether you are a salaried individual, a business owner, or a homemaker managing household expenses, it’s essential to stay informed about these changes so you can plan your finances accordingly

Some banks are reducing fixed deposit (FD) interest rates starting June 1

Source : ABPLIVE AI

Starting Sunday, June 1, 2025, a series of important financial changes will take effect, and they may directly impact how you manage your day-to-day money matters. These updates touch on several key areas, including credit card usage, ATM withdrawal charges, LPG prices, fixed deposit interest rates, and Aadhaar card updates. Whether you are a salaried individual, a business owner, or a homemaker managing household expenses, it’s essential to stay informed about these changes so you can plan your finances accordingly.

New Credit Card Rules

Credit card users, take note! Starting June 1, extra charges may apply when paying for utility bills or fuel with your credit card. For example, Kotak Mahindra Bank will charge a 1 per cent fee on fuel payments beyond a set monthly limit. Reward points may now be capped on payments like rent, utility bills, and insurance. Additionally,  penalties for failed auto-debits may drop to 2 per cent. Banks may also revise international transaction fees and rewards. Customers are advised to check with their bank for the latest.

ATM Fee Hike

Withdrawing cash beyond your bank’s free limit could cost more from tomorrow. Each bank sets its own ATM fee rules, so check your bank's website or app for details.

LPG Price Update

As with every month, LPG cylinder prices will be revised on June 1 based on market trends. Prices could rise, fall, or stay the same. Stay tuned to the news to manage your monthly kitchen budget.

Fixed Deposit Rates Cut

Some banks are reducing fixed deposit (FD) interest rates starting June 1. For instance, Suryoday Small Finance Bank is lowering rates by up to 0.60 per cent. Current FD rates range from 6.5 per cent to 7.5 per cent, but they may continue to shift with market changes.

Free Aadhaar Update Deadline

The last date for free Aadhaar updates on the myAadhaar portal is June 14, 2025. After that, updates will cost: Rs 25 online, Rs 50 at Aadhaar centres