After, the country’s main lender, State Bank of India (SBI), another major lender ICICI Bank is set to revise fees for withdrawing cash from ATMs, checkbooks and other financial transactions starting next month. The revised fees will apply to holders of national savings accounts, including salary accounts.
Cash transactions at ATMs
ICICI Bank customers will get the first 3 transactions (including financial and non-financial) at 6 metro stations (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad) within a month, according to the bank’s website. In all other locations, the first five transactions will be free. Subsequently, the bank will invoice ₹20 per financial transaction and ₹8.50 per non-financial transaction. These fees will be applicable for Silver, Gold, Magnum, Titanium and Wealth cardholders.
Home branch cash transactions
ICICI bank authorized a total of 4 free cash transactions per month. According to the bank’s website, charges above the free limits would be ₹150 per transaction.
Limit of in-branch cash transactions
As of August 1, the original branch liquidity limit for ICICI Bank clients would be ₹1 lakh – free per month, per account. Above ₹1 lakh – ₹5 by ₹1,000, subject to a minimum of ₹150, the bank said.
Limit of cash transactions at a non-domiciled branch
In out-of-home branch – no charge for cash transactions up to ₹25,000, per day. Above ₹25,000 – ₹5 by ₹1,000, subject to a minimum of ₹150.
Cash transaction with a third party
For transactions with third parties, the limit has been set at ₹25,000 per day. Up to a limit of ₹25,000 per transaction – ₹150 per transaction. Above ₹Limit of 25,000, cash transactions are not allowed.
Checks Books
The costs will be zero for 25 holidays by check payable at par per year. Beyond the free limit, the bank will charge ₹20 for each additional 10-sheet checkbook.
Regular ICICI Bank account plus salary
No charge for the first 4 transactions of a month; after ₹5 per thousand rupees or part thereof, subject to a minimum of Rs150 in the same month.
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