Edit: IDBI Bank changes rules regarding cash deposit and checkbook, new rules to come into effect from July 1
IDBI Bank is going to change the check leaf charge, savings account charge, and locker charge from July 1. Customers will now receive a free 20-page checkbook each year. Customers will then have to pay Rs 5 for each check. Apart from that, the bank has also reduced the free limit on cash transactions.
At present, 60-page checkbooks are free.
At present, bank customers get 60-page book-free books in the first year of account opening. The bank then issues a 50-page checkbook for years. For this, customers have to pay Rs 5 for each check. However, according to the bank, the new system will not apply to customers coming under 'Sabka Savings Account' and they will continue to receive unlimited free checks for one year.
The
bank has also reduced the limit on cash transactions by reducing the free facility for cash deposits (home and non-home) to 5-5 times from the existing 7 and 10 in the semi-urban and rural branches respectively. Similarly in Super Savings Plus account also free transactions in semi-urban and rural areas have been reduced from 10 and 12 to 8-8 times respectively.
If the minimum balance is less than 10 thousand, you will not get a discount on the locker. In
addition, the senior citizen will get a discount on the locker when his monthly average balance (MAB) is 10 thousand rupees. If MAB is less than that, you will not get 10% discount on locker. Also, if the MAB is Rs 25,000, the senior citizen will get a 15% discount on the locker charge. At present, in four quarters of a financial year, there is a 25% discount on 5,000 MAB. The new rule will take effect on July 1.
Withdrawing money from ATMs will be costlier from next year The
Reserve Bank of India (RBI) has changed the rules attached to ATM transactions. The RBI has allowed banks to increase fees for financial-non-financial ATM transactions. The RBI has approved an increase in the charges on cash withdrawals after free transactions. The bank currently charges Rs 20 per transaction from all customers. It does not include taxes. According to the RBI, higher interchange fees will enable banks to increase the charges levied on customers after free transactions.
According to the RBI, after a free transaction, the bank will be able to charge Rs 21 per transaction from its customers instead of Rs 20. It does not include taxes. This rule will come into force from January 1, 2022. Charges for cash withdrawals from ATMs have been increased after about 7 years. Click here for more information.
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