ICICI Bank To Change Service Charges From August: Check Revised Charges Here

With effect from August 1, 2021, ICICI Bank has revised the schedule of charges for savings account customers. According to the bank, the cash transaction, ATM interchange, and cheque book charges for Domestic Savings Account customers have been revised. The private lender has also said that Goods and Services Tax (GST) at current rates would be applied in addition to the charges indicated below.

For Regular Savings/Salary Accounts and Variants

The below listed revised charges are cash transaction charges (cumulative of deposit and withdrawal).

1) Number Limit (Sum total of deposits and withdrawals) 4 free cash transactions, per month. Charges above free limits: Rs 150, per transaction
2) Value Limit (Sum total of deposits and withdrawals) The value limit is inclusive of both the home and non home branch transactions
a) Home Branch (Branch where account is opened or ported) Rs 1 lakh. Free per month, per account. Above Rs 1 lakh - Rs 5 per Rs 1,000, subject to a minimum of Rs 150
b) Non-Home Branch - No charges for cash transactions up to Rs 25,000, per day Above Rs 25,000 - Rs 5 per Rs 1,000, subject to a minimum of Rs 150.
3) Third Party Cash transaction (Sum total of deposits and withdrawals) - Up to a limit of Rs 25,000 per day - Rs 150, per transaction. Above Rs 25,000 is not permitted. For Senior Citizen customers, Young Star/Smart Star Accounts, while the limit of Rs 25,000 per day will be applicable, the accounts will not be charged.

For Silver Savings/Salary Accounts

The below-listed charge type is for cash transaction charges (cumulative of deposit and withdrawal)

1) Number Limit (Sum total of deposits and withdrawals) 4 free cash transactions, per month. Charges above free limits: Rs 150, per transaction
2) Value Limit (Sum total of deposits and withdrawals) The value limit is inclusive of both the home and non home branch transactions
a) Home Branch (Branch where account is opened or ported) Rs 1 lakh. Free per month, per account. Above Rs 1 lakh - Rs 5 per Rs 1,000, subject to a minimum of Rs 150
b) Non-Home Branch - No charges for cash transactions up to Rs 25,000, per day Above Rs 25,000 - Rs 5 per Rs 1,000, subject to a minimum of Rs 150.
3) Third Party Cash transaction (Sum total of deposits and withdrawals) - Up to a limit of Rs 25,000 per day - Rs 150, per transaction. Above Rs 25,000 is not permitted. For Senior Citizen customers, Young Star/Smart Star Accounts, while the limit of Rs 25,000 per day will be applicable, the accounts will not be charged.

For Gold Privilege Savings/Salary Accounts

Below are the revised charges for cash transactions (cumulative of deposit and withdrawal)

Number Limit (Sum total of deposits and withdrawals): 5 free cash transactions, per month. Charges above free limits: Rs 150, per transaction.
Value Limit (Sum total of deposits and withdrawals): The value limit is inclusive of both the home and non home branch transactions. Rs 1 lakh. Free per month per account. Above Rs 1 lakh - Rs 5 per Rs 1,000, subject to a minimum of Rs 150 (Inclusive - Self and Third party).

Revision in the ATM Interchange (Transactions at Non ICICI Bank ATMs) Charges

The revised charges for ATM Interchange (Transactions at Non-ICICI Bank ATMs) are listed below for Silver, Gold, Magnum, Titanium, and Wealth variants. The charges listed below do not apply to senior citizen account variations, Basic Savings Bank Deposit Account - BSBDA, or any other product specified by the bank.

First 3 transactions (inclusive of financial and non-financial) in 6 metro locations (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad) in a month - Free. First 5 transactions (inclusive of financial and non-financial) in all other locations, in a month - Free. Maximum of 5 transactions free in a month, with a cap of 3 free transactions in 6 metro locations. Thereafter, Rs 20 per financial transaction and Rs 8.50, per non-financial transaction.

Revision in free payable-at-par cheque leaves limit

Below are the revised charges for all chargeable variants:

• Nil for 25 payable-at-par cheque leaves in a year;
• Rs 20 for every additional cheque book of 10 leaves.

Source: ICICI Bank