ICICI Bank revising charges from August 1
ICICI Bank, a private lender, is expected to adjust various fees for its savings clients, involving money transfers, ATM exchange, and check booklet fees. According to the company’s official website, the additional costs will take effect on August 1. The institution has set a weekly quota of four free money transfers, after which there will be an imposition of a fee of Rs 150 per activity.
Consideration of all residential and non-home offices is there, operations in the value limit (total deposits and withdrawals). For example, clients of ICICI Bank’s current address would have a value limit of Rs one lakh per month per account. Just at a non-home office, there would be no costs for money transfers up to Rs 25,000 a day every day.
Third-party money transfers will incur a fee of Rs 150 for each transfer up to a certain amount of Rs 25,000 for each purchase (the total of deposits and withdrawals). However, the very first three payments (both financial and non-financial) in 6 metropolitan areas (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad) within a month will be zero, according to the web portal.
The very first five payments in all other places inside a month would indeed be free, during which there’ll be a charge of Rs 20 for each cash transaction plus Rs 8.50 for every non-financial purchase. Starting August 1, the bank will offer free 25 payable-at-par cheque sheets per year, with a charge of Rs 20 for each extra cheque book containing ten pages.
In the absence of prey of the applicable minimum Monthly Avg Balance (MAB) specified in terms of service relevant to one’s profile, all unrestricted financial transactions at ICICI Branch offices or bank transfers made at ICICI Bank cash fabricator devices will be billed at Rs 100 (per transaction) for first two payments and Rs 125 (per payment) for any new payment. As per the web portal, this penalty would be beside the non–maintenance MAB fees specified in the user’s account contract terms.