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ICICI Bank To Revise Service Charges for Domestic Savings Accounts From Aug 1, 2021, Check Details

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ICICI Bank, India's leading private bank, is scheduled to raise service charges for cash transactions, ATM interchange, and cheque book charges for domestic savings account holders. ICICI Bank has said on its official website that "Changes in The Schedule of Charges - ICICI Bank Savings Accounts with effect from Aug 01, 2021. Revision in the limits of Cash transaction, ATM Interchange and Chequebook charges - Domestic Savings Account holders."

 
ICICI Bank To Revise Service Charges for Domestic Savings Accounts From August

Revision in the limits of Cash Transaction Charges:

Existing charges:

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 nonhome branch transactions.

a) Home Branch (Branch where the account is opened or ported) Rs 2 lakh. Free per month, per account. Above Rs 2 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.

Revised Charges:

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: Regular Savings/ Salary Accounts and Variants, Charges type: Cash Transaction Charges (Cumulative of Deposit and Withdrawal).

Regular Savings Account, Advantage Woman Savings Account, Senior Citizen Savings Account, Young Stars and Smart Star Account, Freedom Savings Account, Easy Receive Account, Bank at Campus, Self Help Groups, Blind/Visually Impaired/Incapacitated Savings Account, Illiterate Savings Account, Broking/I Direct linked Savings Account, Asset Linked Savings Account (ALSA) and Salary.

Cash Transaction Charges (Cumulative of Deposit and Withdrawal) for Silver Savings / Salary Accounts

Existing:

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 nonhome branch transactions.

a) Home Branch (Branch where the account is opened or ported) Up to Rs 2 lakh - Free per month, per account. Above Rs 2 lakh - Rs 5 per Rs 1,000, subject to a minimum of Rs 150.

b) Non-Home Branch - No charges for cash transactions, value 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.

Revised Charges

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.

Cash Transaction Charges (Cumulative of Deposit and Withdrawal) for Gold Privilege Savings / Salary Accounts

Existing:

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 nonhome branch transactions. Rs 2 lakh. Free per month, per account. Above Rs 2 lakh - Rs 5 per Rs 1,000, subject to a minimum of Rs 150 (Inclusive - Self and Third party).

Revised Charges

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:

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.

Note: The applicable ATM Interchange charges (Transactions at Non ICICI Bank ATMs) are for Silver, Gold, Magnum, Titanium & Wealth variants.

Revision in free payable-at-par cheque leaves limit:

Account TypeExisting ChargesRevised Charges
All chargeable variantsNil for 20 payable-at-par cheque leaves in a year;Nil for 25 payable-at-par cheque leaves in a year;
Rs 20 for every additional cheque book of 10 leavesRs 20 for every additional cheque book of 10 leaves.

Important points: Goods and Services Tax (GST) at prevailing rates, applicable over and above the listed charges. Exclusion: Any exclusions identified by the Bank.

Source: ICICI Bank

Read more about: icici bank
Story first published: Saturday, July 10, 2021, 9:51 [IST]
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