Higher EMIs, bank charges, insurance premiums: 7 BIG changes will impact your monthly budget

HDFC Bank has increased the lending rates on home loans by 5 basis points or 0.05%. The move comes days after the Reserve Bank of India hiked repo rates by 40 basis points or 0.04%.

Punjab National Bank (PNB) has also increased the lending rates on home loans by 15 basis points or 0.15%. The public sector lender has increased the one-year MCLR rate to 7.40% from 7.25%.

State Bank of India (SBI) has increased the home loan lending rates by 40 basis points or 0.40% to 7.05%. With the latest revision, the Repo-Linked Lending Rate (RLLR) has been revised to 6.65%+CRP. 

Jewellers in India will now be allowed to sell hallmarked gold jewelleries to customers, according to a recent notification by the Central government. The Bureau of Indian Standards (BIS) already came up with the announcement on the same in April 2022. 

Axis Bank has increased service charges on various banking and non-banking services. Customers having savings or salary accounts with the bank will now have to pay a higher service fee per month for not maintaining the minimum account balance. The bank has also increased its minimum account balance threshold. 

The government has increased the premium prices for third party insurance on cars and bikes. The hike in insurance premiums will make buying or owning a car or bike more expensive. 

The prices of 19 kg commercial cylinder have been reduced by 135 cheaper, in what could be the only news that will bring cheer to the common man. With the latest changes, the price of a 19 kg commercial cylinder in Delhi stands at Rs 2,219.