New Delhi | Jagran Business Desk: With just a few days left for the month of June to kick in, several changes are scheduled to take place from June 1 related to financial matters. These changes include revisions in bank and insurance rates, LPG cylinder prices, and ATF fuel prices. They will have a direct impact on the pocket of the common man. Therefore, it is important to know about them. Here’s all you need to know:
Hike in Axis Bank Service Charge
With effect from June 1, the banking and non-banking service charges of Axis Bank for its customers with savings and salary accounts at the bank will be increased. The increase will include a hike in service fee per month over non-maintenance of minimum account balance and an increase in the monthly average balance requirement. From June 1 Axis Bank users will have to ensure a monthly average balance requirement of Rs 25,000 and ensure an increased minimum balance in the account.
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Increase in SBI Home Loan Interest
From June 1, SBI’s external benchmark lending rate (EBLR) on home loans will be hiked by 40 basis points to 7.05 per cent and the Repo-Linked Lending Rate (RLLR) would ve revised to 6.65 per cent plus CRP.
Car and Bikes to Become Costlier
Cars and bikes will also become costlier from June 1. The hike is caused because the ministry of road transport and highways (MoRTH) is set to increase the third-party motor insurance premium for various categories of vehicles from June 1.
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LPG Price Hike
Amid the rising crude oil prices and inflation, gas companies are likely to raise LPG rates again next month. Although the prices of domestic LPG were hiked recently, it is likely to increase in the coming month.
ATF Price Hike
ATF or jet fuel prices are also likely to rise from next month. Generally, ATF prices are increased on the 1st and 16th of each month. Therefore, the hike is expected from June 1.
