Today i.e. the first day of November has started. In such a situation, many financial deadlines and changes have started or will start from this month, about which it is very important for you to know. These also include the deadline for submitting life certificate, the deadline for investing in special FD for senior citizens of IDBI Bank, Punjab and Sindh Bank and HDFC Bank. Apart from this, BSE has also increased the transaction charges on equity derivatives. In such a situation, it is very important for you to know about all those changes and deadlines, which can affect your pocket. Let us tell you also.
Life certificate deadline
Pensioners and people above 80 years of age have to deposit their life certificate to continue their pension. For pension, the annual life certificate will have to be submitted by November 30, 2023. Super senior pensioners have the opportunity to submit their life certificate between October 1 and November 30, 2023. Senior citizens aged between 60 to 80 years will have to submit their life certificate from November 1 to November 30, 2023.
BSE hikes transaction charges on equity derivatives
From today i.e. November 1, BSE is increasing the transaction charges in the equity derivatives segment. These changes will primarily be applied to S&P BSE Sensex options, particularly contracts with imminent or immediate expiration. Under the revised charge structure, the charge will be Rs 500 per crore for turnover up to Rs 3 crore. For turnover above Rs 3 crore and up to Rs 100 crore, a fee of Rs 3,750 per crore will be charged.
Meanwhile, a charge of Rs 3,500 per crore will be implemented for turnover between Rs 100 crore and Rs 750 crore. Transactions with turnover above Rs 750 crore to Rs 1,500 crore will be charged Rs 3,000 per crore. For turnover between Rs 1,500 crore to Rs 2,000 crore, the fee will be Rs 2,500 per crore. A transaction fee of Rs 2,000 per crore will be charged on turnover of more than Rs 2,000 crore. The change also aims to simplify the charge structure and improve transparency for market participants in this segment.
Reward multiplier scheme for AMEX cardholders will end
On the occasion of festivals, AMEX had announced a reward multiplier scheme from October 2023. Under this scheme, AMEX cardholders can earn 5x bonus points and additional e-vouchers worth up to Rs 12,000 when shopping from over 60 brands like Apple, Croma, Dyson, Nykaa, Flipkart, MakeMyTrip, Tanishq, etc. This reward multiplier scheme for AMEX cardholders is ending on 14th November.
Change in calculation of minimum amount
Axis Bank has changed the calculation method of minimum amount for credit card users, which will be implemented from November 10. The current minimum balance amount calculation method is 5 percent of purchases and cash withdrawals plus 100 percent of interest charges, all charges, loans and taxes. The calculation method of the revised amount will be 2% of purchases and cash withdrawals and 100% of interest charges, all charges, loans and taxes.
IDBI Bank Special FD
IDBI Bank has extended the deadline of its special FD scheme called Amrit Mahotsav FD. Now this deadline will be 30th November. There are two types of tenures in this special FD. The first is 375 days and the second is 444 days FD. Amrit Mahotsav FD offers higher interest rates than regular FD. For the 444-day scheme, the bank is offering 7.15 percent interest to regular, NRE and NRO. Whereas senior citizens are being given 50 basis points more interest at 7.65 percent. For 375-day FD, the bank is giving 7.65 percent interest to senior citizens and 7.10 percent interest to other customers. These FDs can be withdrawn or liquidated before time.
Punjab and Sindh Bank Special FD
Punjab & Sind Bank has launched new FD schemes named PSB Dhan Lakshmi and PSB Saving Plus, which are valid only till November 30, 2023. PSB Saving Plus scheme is for 333 days and the interest is 6.50 percent. This scheme can be started with Rs 500. Senior citizens and super senior citizens will get interest of 7 percent and 7.15 percent respectively. PSB Dhan Lakshmi Yojana is for 444 days and 7.40 percent interest is available every year. Senior citizens and super senior citizens are given interest of 7.90 percent and 8.05 percent respectively for the same tenure.
HDFC Bank Special FD Scheme
Under the Senior Citizen Care FD Scheme offered by HDFC Bank, senior citizens are given an additional 0.25 percent interest. This premium is in addition to the existing 0.50 percent premium given to senior investors on FD accounts. According to the HDFC Bank website, senior citizens who invest in FDs of 5 years to 10 years between May 18, 2020 and November 7, 2023, will be given an extra premium of 0.25 percent.