Money changes that can impact your finances in December

The first being costlier EMI transactions for SBI credit card customers as the Bank will charge a processing fee of ₹99. The company has sent an email to the customers informing its decision to charge a processing fee from the December.

The letter read: Dear Cardholder, We would like to inform you that with effect from 01 Dec 2021, Processing Fee of Rs. 99 + applicable taxes will be levied on all Merchant EMI transactions done at Merchant outlet/website/app. We thank you for your continued patronage. Please click here to know more about Merchant EMI Processing Fee.

All EMI transactions including on apps, shopping outlets, online websites and so on…

ICICI Bank revises fixed deposit rates

Private lender ICICI Bank has revised interest rates on fixed deposits (FDs) ranging from 7 days to 10 years. ICICI Bank gives interest rates ranging from 2.5% to 5.50% on deposits maturing in 7 days to 10 years. These rates are applicable from 16 November 2021.

PNB cuts interest rates on savings account

The Punjab National Bank (PNB) has reduced the interest rate on its savings account for balances below ₹10 lakh to 2.80% per annum. The bank has also cut the interest rates on savings account for balances above ₹10 lakh to 2.85%. The public sector bank has reduced the savings rate by 10 bps and 5bps on accounts having less than ₹10 lakh and more than ₹10 lakh respectively.

The revised domestic and NRI savings account interest is applicable from today, 1 December, to both existing and new customers.

EPF holders must link their Aadhar-UAN

The deadline for linking Aadhar with Employees’ Provident Fund (EPF) UAN has ended on 30 November. If the account holders didn’t link their EPF UAN with the Aadhar, the employer might nor be unable to deposit monthly EPF contributions into your EPF account. Also, withdrawals from your EPF account will be restricted until your UAN has been confirmed and linked to your Aadhaar number.