New Rules from June 1: Changes in LPG, Credit Cards, ATM Fees and FD Rates Set to Impact Household Budgets
Money Rule Changes from June 1: LPG Price Cut, EPFO 3.0, Credit Card Updates & More
Starting June 1, key updates in financial services and utilities could affect your monthly planning
From June 1, 2025, several financial and utility-related changes will come into effect, directly influencing household expenses and money management. As the new month begins, individuals should prepare for potential shifts in credit card benefits, ATM transaction fees, FD interest rates, LPG prices, and EPFO services.
EPFO 3.0 Launch to Ease Provident Fund Services
The Employees’ Provident Fund Organisation (EPFO) is set to roll out its upgraded digital platform, EPFO 3.0, from June 1. The new system is designed to streamline key processes such as PF withdrawals, KYC updates, and claim handling. One of the anticipated features is the ability to withdraw PF funds using ATM-like cards, enhancing convenience and reducing wait times.
Credit Card Reward Revisions and ATM Fee Updates
Changes are also expected in the realm of credit card usage. From June 1, revised rules may lead to reduced accumulation of reward points, impacting those who depend on card-based spending for benefits. Additionally, ATM users might face increased charges for transactions beyond the permitted free monthly limit. This revision could particularly affect individuals in rural and semi-urban areas who rely on cash withdrawals for daily transactions.
LPG Prices to be Revised
The prices of LPG gas cylinders both domestic and commercial are traditionally updated on the first of each month, and this June is no exception. Depending on market fluctuations, consumers may see either an increase or decrease in prices. Any change will reflect in household expenditures and should be factored into monthly budgeting.
FD Interest Rates Could Dip Further
Several major banks, including HDFC Bank and Axis Bank, have recently reduced fixed deposit (FD) interest rates. More revisions are expected from June 1. With current rates ranging between 6.5% and 7.5%, experts advise locking in existing rates before potential further reductions.
As these changes approach, staying informed is essential to maintain financial control and adapt plans accordingly.
