Personal finance deadlines you shouldn't miss before March 31

Personal finance deadlines: As the financial year 2023-24 draws to a close, several important deadlines in personal finance are fast approaching, with March 31 marking the last day for various financial actions to ensure tax benefits and take advantage of special schemes. Here's a rundown of the key deadlines:

SBI special fixed deposit scheme

The State Bank of India (SBI) introduced the Amrit Kalash deposit scheme, offering an attractive interest rate of 7.10 percent per annum for a tenure of 400 days. Senior citizens enjoy an additional interest rate of 7.60 percent. The scheme ends on March 31.

Home loan special rates

SBI is offering discounted interest rates on home loans until March 31, providing concessions ranging from 65 to 75 basis points for eligible borrowers based on their credit score.

SBI debit card rates

SBI is revising its annual maintenance charges for debit cards, with an increase of ₹75 across various categories, effective from April 1.

Income Tax (I-T) exemption

To claim income tax exemption for fiscal 2023-24, investments in tax-saving financial instruments like PPF, NPS, ELSS, and others must be made before March 31. It's essential to opt for the Old Tax Regime to avail of tax deductions.

Revised surrender value for insurance policies

IRDAI has released new regulations regarding the surrender value of insurance policies, effective from April 1. Policyholders should review their policies before the deadline.

IDBI Bank’s special FD

IDBI Bank offers the Utsav Callable FD, offering competitive interest rates for both general depositors and senior citizens. The scheme is available until March 31.

Income Tax updated return (ITR-U)

Individuals who missed filing their original income tax return can still file an updated return before March 31 for assessment years 2021-22, 2022-23, and 2023-24, albeit with additional tax and interest payments.

Missing these deadlines could result in missed tax benefits, higher interest rates, or loss of special offers. Therefore, it's crucial to take action before March 31 to optimise your personal finances for the current fiscal year.