New rules 1 March 2025: February is ending, and March is about to begin. With a new month come new rules that can affect your daily life and finances. From fixed deposits to gas cylinder prices, many things are set to change from March 1, 2025. Let’s take a closer look at what’s coming and how it might impact you.
Big Changes in Fixed Deposit Rules
If you invest in Fixed Deposits (FDs), then you must pay attention! Banks are set to change FD interest rates from March 1, 2025. These changes will impact your returns, taxes, and withdrawal options. Some banks may increase rates, while others might reduce them based on their financial needs. Investors, especially those with short-term FDs (5 years or less), should check the new rates before making any decisions. The exact changes will be clear after March 1.
LPG Cylinder Prices to Change Again
Every month, oil companies review LPG cylinder prices. On the morning of March 1, 2025, you might see a price increase or decrease. New prices are usually announced at 6 AM, so be ready for a possible change in your cooking gas bill.
New Insurance Payment System Introduced
The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a new one-time UPI mandate system for life and health insurance premiums. This will make premium payments automatic and hassle-free. With this system, policyholders can block the premium amount in their bank accounts, and the payment will be deducted automatically every month. This change ensures you never miss your insurance payments.
CNG, PNG, and ATF Prices Might Change
Fuel prices, including Compressed Natural Gas (CNG), Piped Natural Gas (PNG), and Aviation Turbine Fuel (ATF), are revised every month. On March 1, oil companies will update these prices again. Whether prices go up or down, this will directly affect your travel and daily expenses.
Mutual Fund and Demat Account Nominee Rules Changing
If you have a mutual fund or demat account, you must update your nominee details. From March 1, 2025, investors must personally declare their nominees. Power of attorney holders cannot make this decision. Additionally, investors can nominate up to 10 people.
This rule aims to reduce unclaimed assets and simplify inheritance in case of illness or death. These new rules could bring financial benefits or extra expenses, depending on how they affect you.
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