Latest news with #Amount
Time of India
3 days ago
- Business
- Time of India
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).'
Time of India
5 days ago
- Business
- Time of India
EPFO 3.0 roll out, Free Aadhaar update, Form 16 for ITR filing: 7 money changes in June 2025; check details here
As June 2025 approaches, several important changes will take effect across the financial landscape. From the roll-out of EPFO 3.0 to updates on credit card policies by major banks like HDFC, Axis Bank , and Kotak Mahindra Bank , it's crucial for consumers to stay informed. The deadlines for Aadhaar updates, TDS certificates, and special FD schemes are also nearing. Here's a round-up of what to expect in June: EPFO 3.0 roll-out The Employees' Provident Fund Organisation (EPFO) is set to roll out its enhanced EPFO 3.0 system in June 2025. The upgraded system aims to simplify provident fund (PF) withdrawals, accelerate KYC updates, and reduce claim processing time. EPFO 3.0 is likely to introduce ATM-like cards for quicker and more convenient access to EPF funds. HDFC Bank revises lounge access policy HDFC Bank, the country's largest private bank in terms of market capitalisation, has recently announced changes to its lounge access policy for Tata Neu Infinity and Tata Neu Plus credit cardholders, effective June 10, 2025. Under the new policy, cardholders will no longer be able to access domestic lounges by swiping their cards directly; instead, lounge vouchers will be issued based on quarterly spending milestones. This change is aimed at streamlining benefits and encouraging higher card usage. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Fără ace, fără benzi! Măsoară-ți glicemia oricând cu acest ceas Glucometru Cumpără acum Undo Axis Bank REWARDS Credit Card update Starting June 20, 2025, Axis Bank will update the terms and conditions for its REWARDS Credit Card. The calculation of reward points and spend-based fee waivers will now be based on spend categories (like rent, wallet, and fuel) instead of the traditional 4-digit merchant codes, making it easier for users to understand eligible transactions. Kotak Mahindra Bank Revises Credit Card Charges Kotak Mahindra Bank has announced a series of updates to its credit card fee structure, which will take effect on June 1, 2025. The revised charges include new or adjusted fees for standing instruction failures, dynamic currency conversion, utility bill payments, education-related transactions, wallet top-ups, online skill-based gaming, and fuel spends. The bank has also introduced a new method for calculating the Minimum Amount Due (MAD). Live Events TDS Certificate Deadline As per income tax regulations, taxpayers should receive their TDS certificates, including Form 16 and Form 16A, by June 15, 2025. These forms are essential for accurate tax filing and reconciliation. Aadhaar free update deadline The UIDAI has extended the deadline for updating Aadhaar details free of cost to June 14, 2025, an extension from the previous deadline of December 14, 2024. After this date, offline updates at Aadhaar centers will incur a fee. The free update service is only available via the myAadhaar portal. IDBI's special FD deadline IDBI Bank is one of the banks in the country that offers lucrative interest rates on fixed deposits. On 444-day tenure FDs, IDBI offers a 7.25% interest rate for general customers, 7.75% for senior citizens, and 7.9% for super senior citizens (under the IDBI Chiranjeev FD). The interest rate on 555-day tenure FDs for general customers is set at 7.30%, for senior citizens at 7.80%, and for super senior citizens at 7.95%. On the 700-day tenure, the interest rate for general customers is 7%, for senior citizens is 7.50%, and for super senior citizens is 7.65%. However, the deadline to invest in IDBI special FDs is June 30, 2025.
