Attention! Big Changes Coming May 1 - LPG Prices to Bank Charges, Your Wallet Will Feel It!

As April draws to a close, it’s time to gear up for May. Why? Because come May 1 , a wave of significant changes is set to ripple across the country, directly impacting your wallet. From the cost of LPG cylinders to adjustments in bank service charges, here’s what you need to know to stay ahead of the game.

1. LPG Cylinder Prices May Shift

Every first of the month, the country witnesses fluctuations in LPG cylinder prices. Oil marketing companies wield the power to adjust rates, affecting both domestic and commercial cylinder prices. Keep an eye out for potential changes in gas prices as May arrives.

2. Banking Rules Undergo Revamp

Get ready for a shake-up in banking regulations, particularly concerning savings accounts . Yes Bank and ICICI Bank are rolling out alterations that could impact your finances.

a) Yes Bank Updates: Brace yourself for adjustments in the minimum average balance across various savings account variants. For instance, Account Pro Max will now require a minimum balance of Rs 50,000, with a capped charge limit of Rs 1,000. Similarly, other accounts like Saving Account Pro Plus, Yes Essence SA, and Yes Respect SA will see changes in their minimum balances and charge limits, ranging from Rs 25,000 to Rs 10,000.

b) ICICI Bank Revisions: Expect alterations in service charge rules related to your ICICI savings account. In urban areas, an annual debit card fee of Rs 200 awaits, while in rural areas face a lesser charge of Rs 99. The silver lining? You won’t be charged for a 25-page chequebook anymore, but each additional page will cost you Rs 4. Plus, IMPS transactions will range from Rs 2.50 to Rs 15 per transaction.

3. Senior Citizens’ HDFC Scheme Deadline Looms

If you’re a senior citizen eyeing HDFC’s scheme, heed this: the clock is ticking. The scheme's deadline is fast approaching on May 10, 2024. Time is of the essence for those considering investments under this scheme.

Stay informed, stay prepared. With these impending changes, staying ahead of the curve ensures you’re not caught off guard when May comes knocking.