This June will see a number of financial changes taking place. Lok Sabha election results, interest rates, credit card related revisions, Aadhar updates, income tax returns, are just a few. The following is a list of 10 personal finance deadlines to keep an eye out for.
1) Potential stock market rally on June 4
Brokerages predict the Lok Sabha elections results on June 4 will cause a sharp rally in stocks if the BJP-led NDA returns to power for the third term, Business Standard reported.
2) Deadline for first advance tax installment
The due date for the first installment of advance tax is June 15. Advance tax arises for taxpayers when their income tax liability in a given financial year is more than ₹10,000. Every income including capital gain, winning from lotteries, etc is subject to advance tax. Senior citizens without business income are not liable to pay advance taxes, according to the Business Standard article.
3) Special Fixed Deposits (FDs)
IDBI Bank offers a special rate of 7.05% on Utsav fixed deposits (FDs) maturing in 300 days for general citizens and 7.55% for senior citizens. For Utsav FDs maturing in 375 days, it is 7.1% and 7.6% respectively. For Utsav FDs maturing in 444 days, it is 7.2% and 7.7% respectively.
Indian Bank’s two special fixed deposits include Ind Supreme 300 Days and Ind Super 400 Days. For the former, general citizens get 7.05% interest, senior citizens get 7.55%, and super senior citizens get 7.80%. For the latter, the rates are 7.25%, 7.75% and 8% respectively.
Punjab & Sind Bank offers 7.05% interest on FDs maturing in 222 days, 7.10% for 333 days, and 7.25% for 444 days.
The last date to invest in these FDs is June 30, 2024, according to the Economic Times.
4) Demat and Mutual fund nomination deadline
The deadline for completing the nomination process for mutual fund, demat is June 30, 2024. Previously, the deadline for nominating a beneficiary or opting out of it through a declaration form was December 31, 2023, the Economic Times reported.
5) Aadhar free update
The deadline for updating Aadhaar card for free on the myAadhaar site is June 14, 2024. After June 14, 2024, there’s a charge of Rs.50 for updating your proof of identity and address, the Economic Times wrote
6) Swiggy-HDFC Bank credit card cashback
Beginning June 21, cashback for the Swiggy HDFC Bank credit card will be adjusted against the card statement balance for the following month, according to a CNBC TV18 report.
7) HDFC bank’s UPI alerts
HDFC Bank will send SMS alerts for Unified Payments Interface (UPI) transactions only for amounts exceeding ₹100 for money sent and ₹500 for money received from June 25, with ransaction updates still accessible via email. according to the CNBC TV18 article.
8) SBI Card’s reward points adjustment
SBI Card will stop offering reward points on government-related transactions for specific credit cards, impacting popular options like AURUM and SBI Card ELITE, from June 2024, CNBC TV18 wrote.
9) Amazon Pay ICICI Credit Card rewards
From June 18, users of the Amazon Pay ICICI Credit Card will no longer earn reward points on rent payments. However, the card will continue to offer a 1% fuel surcharge discount, with no restrictions on other rewards, the CNBC TV18 article read.
10) Bank of Baroda’s One co-branded credit card revises late fee
The interest rate on unpaid dues for the Bank of Baroda’s One co-branded credit card is currently 3.49 per cent per month, which will be revised to 3.75 per cent from June 23, according to Business Standard.
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