Personal Finance Updates for 2025: Important Changes to Know and Plan for in Advance. Visa, Credit Card, EPFO, Fixed Deposit, UPI, etc.

The new year of 2025 is just around the corner, and it’s more than just a resolution, it’s also a chance to recalibrate your financial goals for the year. To plan your finances for the new year, you need to be aware of the major changes in 2025, including fixed deposit rules, credit card benefits, and visa regulations.

If you are not aware of these changes in your personal financial situation, you may miss important deadlines or miss out on important benefits. As we enter 2025, understand the upcoming economic changes related to EPF, Visa, FD, etc. and start the new year on the right financial footing.

Visa changes in 2025

Indians planning to apply for visas in countries like Thailand, the US, and the UK should be aware of new updates to visa guidelines that will come into effect next year.

Thailand visa change

Thailand will introduce an upgraded e-visa system that will allow travelers from all over India to apply online through www.thaievisa.go.th. This system will be accessible in a wider area of ​​the world.

US visa changes in 2025

The United States has announced several changes to its visa policy, including categories such as the H-1B visa, which will take effect in 2025.

Indian nationals considering applying for a visa in 2025 will need to fill out a new version of Form I-129 starting January 17, 2025. Additionally, the U.S. government revised the definition of cap-exempt organizations to improve the transition to the F-129. 1 Visa holders, improvements to visa extension procedures, etc.

UK visa changes in 2025

The UK has increased the percentage of financial reserves required for visa applicants. From January 2025, Indians planning to apply for a UK visa will need to demonstrate at least 11% more financial capacity than the current requirements.

Fixed deposit changes

The Reserve Bank of India has changed fixed deposit rules for non-bank financial companies and housing finance companies. The new FD regulations are scheduled to come into force in January 2025. The RBI guidelines deal with conditions such as accepting public deposits, maintaining a minimum percentage of liquid assets, and repaying public deposits.

As per the new rules, FD holders in NBFCs can withdraw small deposits (deposits below). INR10,00) before maturity. Moreover, FD holders can withdraw the entire amount in case they suffer from any critical illness.

Lounge Access Policy for RuPay Credit Card Holders

National Payments Corporation of India (NPCI)’s latest guidelines for RuPay credit card holders will come into effect from January 1, 2025. The revised policy introduces tier-based spending criteria for exclusive access to airport lounges.

Sensex, Bankex, Sensex 50 Monthly Expiry Date

Expiry dates for derivative contracts for Sensex, Bankex and Sensex 50 index will be revised from January 1, 2025. According to a Bombay Stock Exchange announcement on November 28, the weekly Sensex contract will expire every Friday to Tuesday from January 1. 2025.

All monthly contracts for Sensex, Banex and Sensex 50 will expire on the last Tuesday of January 1, 2025. Currently, the same expiration dates are last Friday, last Monday, and Thursday, respectively.

Employees Provident Fund Organization (EPFO)

The Central Pension Payment System (CPPS) has been introduced as part of EPFO’s IT modernization project, CITES 2.01, with a targeted operational date of January 1, 2025. This will enable 7.8 million employees’ pension plan members to receive a pension. Pension from Indian bank branches as on January 1, 2025.

The Employees Provident Fund Organization (EPFO) is reportedly planning to implement a number of changes, including the ability to withdraw PF funds from ATMs and the removal of EPF contribution limits, according to a report in Economic Times.

UPI payment

The Reserve Bank of India will enable Unified Payments Interface (UPI) payments for fully KYC Prepaid Payment Instruments (PPI) through third-party UPI applications from January 1, 2025. This transition provides greater flexibility for customers. This move will enable PPI wallet holders to use third-party applications to conduct transactions using UPI.