Key Financial Rules Changing From June 1, 2025: From Credit Cards and FD Rates to Aadhaar Card Updation, Here Are Big Finance-Related Changes Taking Place Next Month

Mumbai, May 31: Beginning June 1, 2025, several crucial financial rule changes will come into force across India, directly impacting how individuals save, spend, and manage their money. From credit card fees to fixed deposit rates and provident fund access, these updates are part of ongoing reforms aimed at improving transparency, digital access, and regulatory compliance in the personal finance space.

Whether you’re a salaried professional, an investor, or simply managing household expenses, it’s important to understand what’s changing and how it might affect your financial planning. Here’s a look at the five major rule changes effective June 1, 2025. Bank Holidays in June 2025: Banks To Remain Closed for 12 Days Next Month; Check Complete List of Bank Holiday Dates.

Key Financial Rules Changing From June 1, 2025

Credit Card

Credit card users, particularly those with Kotak Mahindra Bank, HDFC Bank, and Axis Bank, will see significant policy changes starting June. Kotak Mahindra Bank is introducing a 1% fee on fuel purchases once users exceed a specified monthly threshold. Additionally, a flat 1% charge will apply to rent and education payments, regardless of the transaction size. Reward point accrual will also be capped on payments toward rent, insurance, and utility bills. Charges are also being introduced on wallet loads and spends on online gaming platforms.

Meanwhile, from June 10, HDFC Bank will revamp its lounge access policy for Tata Neu Infinity and Plus cardholders, switching from a swipe-based model to one that issues vouchers based on spending thresholds. Axis Bank will begin implementing phased changes to its REWARDS Credit Card from June 20, altering cashback rates, reward point calculations, and lounge access terms, making it essential for cardholders to review the new fine print. Mega Block on Sunday, June 01, 2025: Mumbai Local Train Services Likely To Be Affected on Western, Central and Harbour Lines; Check Timings and Other Details.

SEBI Changes Cut-Off Time for Overnight Mutual Funds

From June 1, the Securities and Exchange Board of India (SEBI) will enforce revised cut-off timings for overnight mutual fund schemes. Offline transactions will now have a cut-off at 3 PM, while online transactions can be made until 7 PM. Any transaction beyond these hours will be carried forward to the next working day and settled at the next day’s Net Asset Value (NAV).

EPFO 3.0 to Enhance Provident Fund Access

One of the most anticipated developments is the launch of EPFO 3.0, the upgraded digital platform by the Employees’ Provident Fund Organisation. This update aims to simplify provident fund access and speed up service delivery. With EPFO 3.0, users will be able to withdraw their PF instantly using ATM-like cards or UPI-based platforms.

Real-time balance checks via UPI apps and significantly faster claim processing are also on the cards. Additionally, a more robust grievance redressal system is expected to streamline complaint resolution. These features mark a transformative shift in how millions of salaried employees interact with their retirement savings.

Fixed Deposit Rates Set to Drop

Savers should be prepared for lower returns on fixed deposits, as several banks are revising their interest rates. Suryoday Small Finance Bank will reduce its FD rates by up to 60 basis points from June 1 for deposits under ₹3 crore. The revised interest rates will now range between 4% and 8.4%, depending on the deposit term. Most notably, the rate for five-year fixed deposits will drop from 8.6% to 8%. This change comes amid evolving economic conditions and monetary policy adjustments, signalling a more cautious approach by banks in offering high-interest deposit schemes.

Deadline for Free Aadhaar Updates Nears

The window to update the Aadhaar Card details online at no cost will close on June 14, 2025. Until then, users can log into the myAadhaar portal to make changes to their identity or address details without incurring a fee. After the deadline, updates will attract a charge of INR 25 online and INR 50 at physical Aadhaar centres. The Unique Identification Authority of India (UIDAI) has urged residents to ensure their records are accurate and up to date, especially since Aadhaar remains integral to accessing a wide range of government and financial services.

From revised banking fees to digital upgrades in government services, these financial changes mark a significant shift in how money matters will be handled in India. Staying informed and taking timely action, like updating Aadhaar, checking your FD terms, and reviewing your credit card policies, can help you adapt with minimal disruption. As June begins, proactive financial planning is more important than ever.

(The above story first appeared on Pune Media on May 31, 2025 05:08 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website Pune Media.com).

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