HDFC Bank, Axis Bank, American Express, Kotak Mahindra Credit Card changes June 2025: Know what is what, how it impacts your cashback, reward points
In June 2025, several major banks are set to revise their credit card terms and conditions. This will affect everything from how rewards and fee waiver on spending are calculated to airport lounge access,
cashback benefits
, and even fuel rewards. These changes could directly impact how you earn and redeem benefits on your credit cards.
If you're a cardholder with
HDFC Bank
,
Axis Bank
,
Kotak Mahindra
or American Express, here's what's changing, and from when in June 2025.
HDFC Bank credit card: Airport lounge access changes from June 10, 2025
HDFC Bank is changing its terms and conditions of two credit cards - Tata Neu Infinity and Tata Neu Plus from June 10, 2025. Going forward, These credit card holders will not be able to swipe their cards directly at airport lounges for entry. Instead, HDFC will issue lounge access vouchers to eligible customers based on quarterly spending milestones. This means customers must meet minimum spending thresholds each quarter to unlock airport lounge access benefits.
HDFC Bank credit card airport lounge access change from June 10, 2025
Kotak Mahindra changes from June 1, 2025
From June 1, 2025, Kotak Mahindra Bank will revise multiple charges on its credit cards offering. The changes include new fees for failed standing instructions, dynamic currency conversion (DCC), and transactions involving utility bills, education payments, wallet loading, skill-based gaming, and fuel purchases. Additionally, the method for calculating the Minimum Amount Due (MAD) on outstanding balances will be updated.
Live Events
Also Read:
Kotak Mahindra Credit card changes from June 1, 2025
Axis Bank credit card changes from June 20, 2025
Axis Bank is changing terms and conditions for two of its credit cards - Flipkart Axis Bank Credit Card and REWARDS Credit Card. The changes will be effective from June 20, 2025.
Flipkart Axis Bank Credit Card holders will see an increase in cashback benefits on Myntra purchases but will lose the complimentary airport lounge access — a significant change for frequent travelers.
For the REWARDS Credit Card, Axis Bank is introducing a revised approach to spend exclusions, meaning not all purchases will count towards earning reward points. The criteria for annual fee waivers will also become stricter, likely requiring higher annual spends.
Also Read:
No more airport lounge access in this Axis Bank Credit Card from June 20, 2025
American Express Gold Charge changes from June 12, 2025
American Express is also updating the rewards policy for the Gold Charge Card starting June 12, 2025. As per the new rules, fuel purchases — including petrol, diesel, and CNG from Oil Marketing Companies (OMCs) — will no longer earn Membership Rewards points for American Experess Card holders. For credit cardholders who regularly use their Amex Gold Card for fueling, this change reduces the overall reward-earning potential and may influence their future payment preferences. According to the website, 'Effective 12 June 2025, you will not earn Membership Rewards® point on Fuel payments via Gold Charge card. Fuel includes petrol, diesel, CNG from Oil Marketing Companies (OMCs).'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
42 minutes ago
- Time of India
Aries Daily Horoscope Today, June 02, 2025: Letting go of rush brings growth
You are known for moving fast, but today asks you to slow down. There is no need to chase everything at once. When you release the habit of rushing, your path becomes clearer. Trust that progress made with patience will last longer. Even small steps can lead to big results when taken calmly. Let others move at their pace while you stay steady. The more you stop forcing outcomes, the more smoothly things will unfold. Real strength lies in calm today, not in speed. Aries Love Horoscope Today In your heart, you may be feeling restless, wanting a quick answer or emotional response. But love needs space today. If in a relationship, avoid pushing your partner to open up quickly. Let the conversation flow naturally. If you are single, don't run after someone who is unsure. When you relax and give time, true feelings start to reveal themselves. Love those stays is never in a hurry. Today, trust in slow warmth, not fast fire. That will bring emotional peace. Aries Career Horoscope Today Your professional life asks for calm planning today. Instead of multitasking or forcing quick results, choose one important thing and give your full focus. The best ideas come when the mind is still. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo Avoid jumping from one task to another. Your steady work will be noticed, even if it is not loud. If you are working in a team, listen before speaking. A small but meaningful opportunity may come when you are relaxed, not when you're trying to control everything. Aries Money Horoscope Today Money matters need careful handling today. Don't rush to invest or spend. Take time to look at the full picture. A purchase you thought was urgent may not be so important after all. By slowing down, you may find a better price or realise it's not needed. If expecting money from someone, don't keep following up emotionally. Let it come in its own time. Budget calmly, think long-term, and trust that financial peace is built slowly, not through instant actions. Aries Health Horoscope Today Your health depends more on your rhythm today. If you've been skipping meals, eating fast, or sleeping late, your body will start showing signs like heaviness or irritation. You don't need to do a lot to feel better—just slow down. Eat mindfully, walk at a gentle pace, and avoid noisy environments. A headache or stomach discomfort may come from stress, not real illness. Breathe deeply, take a short nap, or spend quiet time in nature. Releasing rush is the best medicine now. Discover everything about astrology at the Times of India , including daily horoscopes for Aries , Taurus , Gemini , Cancer , Leo , Virgo , Libra , Scorpio , Sagittarius , Capricorn , Aquarius , and Pisces .
Time of India
an hour ago
- Time of India
Banks' 'blind faith' in valuer's word comes under test: Cross-border payments in for more scrutiny
A recent ruling questions banks' reliance on CA certificates for cross-border payments, potentially increasing scrutiny of outward remittances. The appellate tribunal SAFEMA criticized HDFC Bank for blindly accepting a valuation report in a JP Morgan deal. This decision could force banks to more rigorously examine financial documents, impacting individuals, businesses, and professionals involved in foreign exchange transactions. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: An NRI takes out money after selling property in India. A corporate house floats a company abroad. A local business repays a foreign lender. And, a private equity fund remits money overseas after an exit. All such deals could come up against finicky bankers-particularly, if a transaction looks faintly banks count on certificates from chartered accountants (CAs) and valuers as they clear funds flowing in and out of the country. The reports on valuation of securities, source of money, and payment of tax are key documents supporting most cross-border payments . And banks rely on them, often blindly. This trust has now come under a message that could impact many individuals and businesses, a quasi-judicial authority deciding on matters involving alleged foreign exchange irregularity and money laundering , recently said that banks cannot merely act as a "post office for onward remittance " and blindly take reports of CAs as the final April 17 ruling by appellate tribunal SAFEMA pertains to a case where the enforcement directorate questioned HDFC Bank 's decision to allow outward remittance of ₹140 crore by the JP Morgan . In 2010 the US bank had invested ₹85 crore in the troubled realty group Amrapali which later bought back the shares for ₹140 crore. The transaction did not require any prior Reserve Bank of India (RBI) cleared the ₹140 crore outflow to JP Morgan based on a valuation report justifying the steep buyback premium. The tribunal said that HDFC should have scrutinised the CA's report as the methodology (discounted cash flow ) to value the shares was based on questionable assumptions. The company did not have distributable profits that justified the high buyback price, said the ruling, unless overturned by a high court, means that banks cannot take CA certificates at face value. If a company's valuation defies logic, banks must dig into the CA's or valuer's report, though HDFC has argued (as most banks would) that it is neither obliged to examine such reports nor seek RBI's to Harshal Bhuta, partner at the CA firm PR Bhuta & Co, "This would impact many, especially those planning outward remittances. Scrutiny of even legitimate transactions will rise. Banks would turn demanding. They would closely examine all documents to avoid violations. Since many certificates and valuation reports could come under scrutiny, professionals like CAs, merchant bankers, and registered valuers must be prepared to explain." He felt the ruling could also jeopardise RBI's plan to give banks more regulatory ruling said the exemption from RBI approval was conditional and under Section 10(5) of the Foreign Exchange Management Act (FEMA), HDFC Bank was required to check the deal's genuineness besides serving as a remittance channel. Under the rules, a valuation arrived by a professional is a floor for inflows but a cap on ruling has caused a flutter among professionals. "If certificates issued by professionals, as required under the law, are viewed with suspicion, it could create an unending chain of uncertainty under FEMA," said Ashish Karundia, founder of the CA firm Ashish Karundia & Co. "While it may be justified to question documentation in cases that appear suspicious, it is unreasonable to expect banks to scrutinise every transaction in depth, including verifying the end-use of funds," said recent years banks have examined outward remittances by individuals under the liberalised remittance scheme (LRS), questioned overseas direct investments by corporates, while RBI has denied many NRIs' requests to remit beyond $1 million a year. "We feel the LRS limits could soon be rationalised. We won't be surprised if it is linked to an individual's income level, so that minors or persons with little or no earnings are stopped from remitting large funds to buy properties and shares abroad. Also, cryptos may be disallowed explicitly under LRS," a banker told ET.
Mint
2 hours ago
- Mint
Canara Bank waives minimum balance requirements — Here's what SBI, HDFC, Axis Bank, among others mandate
State-owned Canara Bank announced that, effective Sunday, 1 June 2025, the institutional lender has waived the average monthly balance (AMB) requirement for all types of savings bank accounts. According to Mint's earlier report, this means that customers will not be charged for failing to maintain the minimum balance requirement for all savings accounts from 1 June 2025. A minimum average monthly balance is the lowest amount that a customer has to keep in their account every month; failure to do so will attract additional penalties. 'With this new policy, all Canara Bank SB account holders will now enjoy true 'no penalty on minimum balance' for all SB accounts, free from any AMB-related penalties or fees,' said the bank in an official statement. Axis Bank: According to the official fees and charges structure released by the bank, effective 1 April 2024, the average balance requirement criteria for a Priority Savings Account is ₹ 2,00,000 or ₹ 2 lakh per month for all Metro, Urban, Semi Urban, and Rural accounts. The average monthly balance required across all locations is ₹ 10,000 per month for a semi-urban or rural branch or an FD of at least ₹ 50,000 for a tenure of 12 months or more. If a customer fails to maintain the minimum balance, 6 per cent of the shortfall from the Average Balance Requirement will be charged. According to the tariff structure effective 1 April 2023, this charge can go up to a maximum of ₹ 600. HDFC Bank: In a regular savings bank account with HDFC Bank, the customers are mandated to maintain a minimum average monthly balance of ₹ 10,000 or a fixed deposit of ₹ 1 lakh for a minimum time period of 1 year 1 day for only Urban branch offices. In case of a Semi-urban branch, the average monthly balance will be off ₹ 5,000, or a fixed deposit of ₹ 50,000 for a minimum 1-year 1-day period. In case of a Rural bank account, the customers will have to maintain an average quarterly balance of ₹ 2,500 or a fixed deposit of ₹ 25,000 for the same period of time as the other branch locations. If customers fail to maintain the balance, the bank can charge up to a maximum of ₹ 600 for the urban account. The bank has different slabs for penalty charges for non-maintenance of this balance. SBI Bank: According to the official State Bank of India website, the basic savings bank account from the largest PSU Bank does not require a minimum balance to be maintained monthly or quarterly. The website also shows that the Savings bank account and the Savings Plus bank account from the institutional lender do not have a Monthly Average Balance component. ICICI Bank: The official website of ICICI Bank shows that customers with an Easy Receive Account with the private lender must maintain a minimum balance of ₹ 10,000 for Metro and urban locations. In case of Semi-urban and rural locations, the minimum balance amount is set at ₹ 5,000. If customers fail to maintain the minimum monthly average balance, they will be charged a maximum of ₹ 450, depending on the difference between the minimum balance and the location of the branch. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
