Post demonetization, HDFC Bank has decided to increase the fees for savings account holders on a slew of activities involving cash. HDFC increased transaction charge Rs 110 on the 5th transaction from the 1st March and 15 rupees on every cash inquiry. Earlier, it used to allow Rs 50,000 cash transactions, both withdrawals, and deposits per day.
HDFC bank has issued a notification to its customers about the new transaction charges.
Have a look at the new revision of fees and charges for savings and salary accounts, effective from 1st march 2017. Effective March 1, cash transaction charges for Savings and Salary accounts are being revised as follows:
Number of cash transactions(Cumulative of deposit and withdrawal)
- 4 free cash transactions per month
- 5th transaction onwards - Rs150/- per transaction (plus taxes & cess) would be levied
- SB Max Customers- 5 free cash transactions per month,
- 6th transaction onwards - Rs150/- per transaction (plus taxes & cess)
Value of cash transactions(Cumulative of deposit and withdrawal)
- Home branch:2 lakh -free per month per account.
- Above 2 lakh- Rs5/- per thousand or part thereof, subject to a minimum of Rs.150/-(plus taxes & cess)
- Non-home branch: Cash transactions value up to Rs 25,000/- per day -No charge
- Above Rs 25,000/- -Rs 5/- per thousand or part thereof, subject to a minimum of Rs 150/- (plus taxes & cess)
Third party Cash transaction (Cumulative of deposit and withdrawal)
- Upto a limit of Rs.25,000/- per day - Rs150/- (plus taxes &cess) .
- Above Rs 25,000/- not allowed
For Senior Citizen customers, Kids/Minor Accounts, while the limit of Rs 25000/- per day will be applicable, the accounts will not be charged
Above charges not applicable to Prime, Classic, Preferred, Imperia or any other Managed program customers. Number cap for BSBDA accounts remains unchanged in line with regulatory guidelines - Cash w/d - 4 free per month, Cash deposit - free, Charges are applicable over and above the free number & value limits are applicable as per grid above.