Changes From 1 June: These 5 big changes will happen from June 1 in many sectors including banking, insurance, and home loan, your pocket will be affected

There is continuous development in India and in this process of moving forward, the rules are also changing from time to time. Now many changes are going to happen in the country from June 1. These are going to have a direct impact on the pockets and lives of the common people. In such a situation, every person must know about the changes in the rules. So let us tell you what changes are going to happen from June 1.

1- Third-party insurance of vehicles will become expensive

Third-party insurance for two-wheelers and four-wheelers will become expensive from June 1. For third-party insurance, you will have to pay a higher premium. In the case of two-wheelers, a premium of Rs 1,366 will be charged for vehicles between 150 ccs to 350 ccs.

2- SBI home loan will be expensive

State Bank of India has increased the Home Loan External Benchmark Lending Rate (EBLR) by 40 basis points, to 7.05% now. At the same time, RLLR stands at 6.65% plus credit risk premium. Its effect will be in the form of an increase in home loan interest rates from June 1.

3- Gold Hallmarking

The second phase of hallmarking of gold will begin. In its second phase, apart from 256 old districts, hallmarking centers will be started in 32 new districts. Along with this, hallmarking of gold jewelry will be mandatory in all 288 districts. After hallmarking in these districts, only 14, 18, 20, 22, 23, and 24-carat jewelry can be sold.

4- Rules of Axis Bank Savings Account

Axis Bank is increasing the service charge on its savings account. From June 1, the limit for maintaining a minimum balance in the savings account of the bank will increase. Under this, customers from semi-urban and rural areas will have to keep a minimum of Rs 25,000 in the savings account of Axis Bank. Earlier Rs 15,000 had to be kept as a minimum.

5- Fees on India Post Payments Bank transactions

Transactions with India Post Payments Bank will become expensive from June. IPPB has decided to levy a cash transaction fee from June 15. However, under the new rules, the first three cash withdrawals, cash deposits and mini statements of every month will not be charged. Thereafter, each cash withdrawal or cash deposit will attract Rs 20 plus GST. At the same time, Rs 5 plus GST will be applicable on the mini statement.

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