Higher EMIs, bank charges, insurance premiums: 7 BIG changes will impact your monthly budget
From a hike in home loan EMIs to costlier third party motor insurances, a slew of changes coming into effect from today, June 1, could burn a hole in the common man's pockets.
New Delhi: Come June 1, bank and insurance customers and borrowers will have to loosen their purse strings as home loan EMIs, bank charges and insurance premiums are all set to increase, putting additional pressure on the common man already battling high inflation. However, in what could be a slight relief, the prices of LPG cylinders have come down. Besides changes that could impact the finances of the common man, there are a few other rule changes coming into effect starting June 1. As an informed citizen, it is important to know about the changes so that you don’t face any difficulties.
HDFC Hikes Home Loan Lending Rates
![HDFC Hikes Home Loan Lending Rates HDFC Hikes Home Loan Lending Rates](https://english.cdn.zeenews.com/sites/default/files/2022/06/01/1048904-untitled-design-2022-06-01t153334.573.jpg)
PNB Increases Home Loan Lending Rates
![PNB Increases Home Loan Lending Rates PNB Increases Home Loan Lending Rates](https://english.cdn.zeenews.com/sites/default/files/2022/06/01/1048903-untitled-design-2022-06-01t152918.571.jpg)
SBI Raises Interest Rates on Home Loans
![SBI Raises Interest Rates on Home Loans SBI Raises Interest Rates on Home Loans](https://english.cdn.zeenews.com/sites/default/files/2022/06/01/1048902-untitled-design-2022-06-01t152930.644.jpg)
Gold Hallmark Rule Change
![Gold Hallmark Rule Change Gold Hallmark Rule Change](https://english.cdn.zeenews.com/sites/default/files/2022/06/01/1048901-untitled-design-2022-06-01t153023.603.jpg)
Bank Charges Increase
![Bank Charges Increase Bank Charges Increase](https://english.cdn.zeenews.com/sites/default/files/2022/06/01/1048900-untitled-design-2022-06-01t153048.676.jpg)
Axis Bank has increased service charges on various banking and non-banking services. Customers having savings or salary accounts with the bank will now have to pay a higher service fee per month for not maintaining the minimum account balance. The bank has also increased its minimum account balance threshold.
Motor Insurance Premiums to Go Up
![Motor Insurance Premiums to Go Up Motor Insurance Premiums to Go Up](https://english.cdn.zeenews.com/sites/default/files/2022/06/01/1048898-untitled-design-2022-06-01t153113.842.jpg)