5 money changes in May 2024: Saving accounts, credit cards, FD deadlines

There will be a number of money changes that will come into effect in May 2024. This includes revision of saving account charges for Yes Bank ICICI Bank and the deadline for HDFC Bank senior citizens special FD that will end on May 10.

ICICI Bank revised savings account service charges of some of the services. Check these five money changes that will happen in May 2024.

HDFC Bank senior care special FD deadline

HDFC Bank extended last date to invest in its senior citizens-only special fixed deposit scheme to May 10, 2024. This special FD offers higher interest rate benefits for senior citizen.

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ICICI Bank savings account charges

ICICI Bank revised savings account service charges of some of the services. The include cheque book, IMPS, ECS / NACH Debit Returns, stop payment charges and more. The changes will come into effect from May 1.

Yes Bank savings account charges

Yes Bank revised its savings account charges which will be effective from May 1. The bank also discontinued a few accounts and as per Yes Bank website, "AMB requirement, as defined by YES BANK from time to time, at select locations, is Rs. 5000 for YES Grace, Rs. 2500 for YES Respect and Rs. 2500 for YES Value. For Kisan Savings A/c, Average Yearly Balance (AYB) of Rs. 1000 is required at all locations. For Savings value where AMB requirement is Rs. 2500, Maximum Charges for non-maintenance of balances is capped at Rs. 125 per month. For Kisan Savings A/c, Charges would be Rs. 100 per annum.”

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Yes Bank credit card rules

Yes Bank revised some things in its credit cards with the exception of the 'private' credit card type. According to the YES Bank website, “A charge of 1% will be applicable on all utility transactions in a statement cycle.”

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IDFC First Bank credit card rule

IDFC First Bank said that it will impose a 1 percent + GST extra when the total amount of credit card payments for utility bills paid exceeds ₹20,000. The exception to this change will be the FIRST Private Credit Card, LIC Classic Credit Card, and LIC Select Credit Card.

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