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IndusInd Bank Revises Charges On Savings Bank Accounts, Read More Here

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IndusInd Bank, India's one of the biggest private sector banks operating in major cities of the country has revised the charges on regular saving account w.e.f 01st January 2022.

 

The existing charges on the saving account with the bank will be applicable till 31st December 2021. However, these revised charges might not play a huge impact on your regular savings account with the bank but keeping yourself updated with the changes will surely help you to avoid any kind of hassle in near future. These changes in the charges will leave a small impact on your finances and the way you transact your saving.

These changes in charges will be applicable on the non-maintenance, cash deposit, return on local outward and inward cheques, and cash withdrawal at ATMs (above free limits as defined in SOC i.e., 5 ATM withdraws).

Below are the revised charges that will come into effect on the 1st January 2022, in the new year.

Charges applicable on Non-Maintenance of Average Balance in Saving Account

Charges applicable on Non-Maintenance of Average Balance in Saving Account

The bank charges on two average balance in Saving Account, Monthly and Quarterly

DescriptionApplicable Till 31st December 2021Revised effective from 1st January 2022
Non-maintenance of Average Monthly Balance5% of Average Monthly Balance ShortfallRs 150/- +5% of balance shortfall
Non-maintenance of Average Quarterly Balance10% of Average Quarterly BalanceRs 100/- +10% of balance shortfall

While moving forward, please take note of few important point mentioned below.

1. If you meet all the relationship conditions, you won't have to pay any NMC (Non-Maintenance Charges) fees on your Zero Balance Regular Savings account. For additional information, please see SOC on our website or contact your local IndusInd branch.

2. Under the redesigned NMC pricing structure, there will be no minimum charges.

3. As far as product varieties and geography are concerned, there has been no change in maximum charges.

Revised Charges on Cash Deposit
 

Revised Charges on Cash Deposit

Cash deposit at branch of the bank will be revised as follows:

Applicable Till 31st December 2021Revised effective from 1st January 2022
Free limit of Rs 2,00,000/- orFree Limit of Rs.2,00,000/- per month or 5 times previous months AMB or
5 times previous month AMB whichever is higher5 transactions per month, whichever is applicable first;
Above free limits, Rs 2.5/- per Rs 1000/- subject to the minimum of Rs 100/-Above free limit, Rs.4/- per Rs.1000/- subject to minimum of Rs 100/-

Before moving forward, please take note of these points mentioned below.

1. Free limits applicable only if product AMB is maintained will continue to remain in effect even after 1st January 2021

2. For Basic Savings Bank Deposit (BSBD) equivalent accounts, the above changes will not be apply.

3. Cash deposit costs will remain free for DIVA, Senior Maxima, Maxima, Resident Maxima, Privilege Plus, and Max Active if a minimum average balance is maintained; otherwise, cash deposit charges of Rs 4/- per 1000 would apply.

Penal Charges for return of Local Outward Cheques

Penal Charges for return of Local Outward Cheques

DescriptionApplicable Till 31st December 2021Revised effective from 1st January 2022
Local Outward ClearingRs 50/- per cheque returnRs 100/- per cheque return

Penal Charges for return of Local Inward Cheques

DescriptionApplicable Till 31st December 2021Revised effective from 1st January 2022
Local Outward Clearing

1. First cheque return in a quarter - Rs.350/-.

2. From second cheque return in the same quarter - Rs.500/- per return"

Rs 450/- per Cheque return
Cash Withdrawal at ATMs (Above free limits as defined in SOC)

Cash Withdrawal at ATMs (Above free limits as defined in SOC)

DescriptionApplicable Till 31st December 2021Revised effective from 1st January 2022
Cash withdraw at ATMs in IndiaRs 20/- per transaction-For cash transactions above free limitsRs 21/- per transaction-For cash transactions above free limits

Also note these points mentioned below before visiting for ATM withdraw:

1. There will be no changes to the existing free transaction limitations.

2. Unlimited ATM withdrawals will continue for DIVA, Senior Maxima, Maxima, Resident Maxima, Privilege Plus, and Max Active, as long as the necessary Account Balance is maintained.

 To learn about more, visit IndusInd.com or any of nearest IndusInd Bank branch.

Read more about: indusind bank bank savings
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