Banks Penal Charges for Savings Accounts – List of Banks with detail

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Banks Penal Charges for Savings Accounts – List of Banks with detail

Charges on savings bank accounts

Reserve Bank of India’s Master Circular on Customer Service in Banks provides that the policy on penal charges to be levied for non-maintenance of minimum balance in savings bank accounts may be decided with the approval of the Board of the bank concerned. Banks levy panel charges on non-maintenance of minimum balance in savings bank account in terms of the said Master Circular.

Details of charges levied on deposit of cash in savings bank accounts at bank branches of public sector banks is given below in the table.

Bank Charges of deposit of cash in savings bank account at bank branch
Allahabad Bank No charges
Andhra Bank No charges
  

 

Bank of Baroda

 Home brach: no charges
Non-home branch: For cash deposit
Up to Rs. 30,000 per day per account, there is no charge. Thereafter, in excess of Rs. 30,000, service charge is Rs. 2.50 per thousand or part thereof
Bank of India No charges
Bank of Maharashtra No charges
Canara Bank No charges
Central Bank of India No charges
Corporation Bank No charges
Dena Bank No charges
IDBI Bank In metro/urban locations, there is no charge up to 5 transactions per month. In semi-urban locations, there is no charge up to 7 transactions per month. In rural locations, there is no charge up to 10 transactions. Thereafter, there is a charge of Rs. 2.50 per Rs.1000, subject to a minimum of Rs. 25 and a maximum of Rs 10,000).
Inain Bank No charges
Indian Overseas Bank No charges
Oriental Bank of Commerce No charges
Punjab & Sind Bank No charges
  

 

 

 

 

 

 

 

Punjab National Bank

 No charges at home branch
Cash deposit at all branches within same clearing centre and city (other than at home branch) 

There are no charges up to Rs. 25,000 per day.

Above Rs. 25,000, there is a charge of Rs.1 per Rs. 1,000 or part thereof, with a minimum of Rs. 25 per transaction.
Cash deposit at outstation non-home branches (other than same clearing centre/city): There are no charges up to Rs. 25,000 per day. Above Rs. 25,000, there is a charge of Rs. 2 per Rs. 1,000 or part thereof, with a minimum of Rs. 25 per transaction.
State Bank of India Up to 3 transactions per month in branch, there is no 

Charge, and there is a charge Rs. 50 per deposit thereafter. There is no

Charge for deposit at Cash Deposit Machines
Syndicate Bank No charges
UCO Bank No charges
Union Bank of India No charges at home branch. Above Rs. 50,000 per day at non-home branch Rs. 1 per thousand, subject to a minimum Rs. 10 and a maximum of Rs. 11,5000
United Bank of India No charges
Vijaya Bank No charges

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