Mumbai: India’s leading private sector bank ICICI has revised its service charges on cash transactions, ATM withdrawals and cheque leaves. According to the details available on the bank’s website, the revised charges will come into force on August 1, 2021. Here are the complete details.
Revised charges on cash transactions
The free cash transaction limit, which is a total of deposits and withdrawals, has been reduced from the current Rs 2 lakh per account per month to Rs 1 lakh. Accordingly, the bank will charge Rs 5 per Rs 1,000 cash transaction above the Rs 1 lakh limit subject to a minimum charge of Rs 150. At present, the bank levies Rs 5 per Rs 1,000 above the Rs 2 lakh limit subject to a minimum charge of Rs 150. This revision applies to the holders of regular savings/salary accounts, silver savings /salary accounts, and gold privilege savings / salary accounts.
Revised charges on transactions at non-ICICI Bank ATMs
With regards to transactions at non-ICICI Bank ATMs, account holders of variants like silver, gold, magnum, titanium and wealth do not pay any additional charges irrespective of the number of transactions. However, according to new rules, only first three transactions (inclusive of financial and non-financial) per month in six metro locations of Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad and first five transactions in all other metros per month will be free for these account holders. Overall, customers can avail 5 free transactions with a cap of 3 free transactions in 6 metro cities. Thereafter, customers should pay Rs 20 per financial transaction and Rs 8.50 per non-financial transaction.
Revised charges for cheque books
At present, bank customers get 20 payable-at-par cheque leaves in a year at zero cost and pay Rs 20 for every additional cheque book of 10 leaves. According to the revised rules, customers will get 25 payable-at-par cheque leaves in a year at free of cost and they have to pay Rs 20 for every additional cheque book of 10 leaves.
Customers should note that they will be paying applicable Goods and Services Tax (GST) over and above the listed charges. Also, the bank will give exemption for the holders of some accounts like Senior Citizen Account variants, Basic Savings Bank Deposit Account, etc from paying some specified charges.
