5 money changes in May 2024: Revision in saving account charges, credit card rules, special FD deadlines

ICICI Bank has revised savings account service charges of some of the services including cheque book, IMPS, ECS / NACH Debit Returns, stop payment charges and more. These changes will come into effect from May 1, 2024 as per the ICICI Bank website.

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? Debit Card Fees annual fees: Rs.200 p.a. For Gramin locations – Rs.99 p.a.

? Cheque Books: Nil for 25 cheque leaves in a year; Rs. 4 per leaf thereafter.

? DD / PO – Cancellation / Duplicate / Revalidation: Rs.100 per instance

? IMPS – Outward:· Amount up to Rs 1 thousand – Rs 2.50 per transaction Amount above Rs 1 thousand to Rs 25 thousand – Rs 5 per transaction Amount above Rs 25 thousand to Rs 5 lakhs – Rs 15 per transaction
? Account closure: NIL

? Debit Card PIN regeneration Charges:NIL

? Debit Card de – hotlisting: NIL

? Balance Certificate, Interest Certificate: NIL

? Retrieval of old transactional documents / Enquiries related to old records: NIL
? Signature attestation: Rs. 100 per application/letter

? Address confirmation: NIL

? ECS / NACH Debit Returns: Rs 500 per instance for financial reasons. Maximum recovery will be done for 3 instances per month for the same mandate

? National Automated Clearing House (NACH) Mandate. One time mandate authorisation charges (physical): NIL
? Lien marking and unmarking of savings account: NIL

? Reissue of Internet user id or password (Branch or non IVR Customer Care): NIL

? Address change request at branches: NIL
? Stop Payment charges: Particular cheque – Rs.100 (Free through customer care IVR & Net banking).

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Yes Bank, a private sector lender, has revised its savings account charges schedule. According to Yes Bank’s official website, the schedule will be effective May 1, 2024. The bank has also discontinued a few accounts.

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According to the Yes Bank website, “AMB requirement, as defined by YES BANK from time to time, at select locations;

Rs. 50,000 for Savings Account PRO Max, the maximum charge is Rs 1,000

Rs. 25000 for Savings Account Pro Plus / Yes Essence SA YES Respect SA, the maximum charge is Rs 750

RS 10,000 for Savings Account PRO, maximum charge is Rs 750

Rs 5000 for Savings Value / Kisan SA, maximum charge is Rs 500

Rs 2500 for My First YES, maximum charge is Rs 250

Account Service Charge
If Balance maintained is

1. >= 100% of the requirement- NIL

2. >50% of the requirement- 5% of balance shortfall

3. <= 50% of the requirement – 10% of balance shortfall, 5% of balance shortfall for Savings Value

Charges on ATM cum Debit Card for savings account
Debit Card & Annual Fee
· Element Debit Card: Rs. 299
· Engage Debit Card: Rs. 399
· Explore Debit Card: Rs. 599
· Rupay Debit Card (Only for Kisan account): Rs. 149
At other bank ATMs in India

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YES Bank has updated several components of all of its credit cards, with the exception of the ‘private’ credit card type. The rules only affect the fuel cost category on some of the bank’s credit card offerings. With the exception of ‘private’, all changes are related to calculating the spending level for remission of the yearly and joining fees. There has also been a modification in the additional cost for utility transactions.Paying gas, electricity, and other utility bills using YES Bank credit card to get costlier from May 1, 2024

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IDFC First Bank has said that it will impose a 1 percent + GST extra when the total amount of credit card payments for utility bills paid exceeds Rs 20,000. The FIRST Private Credit Card, LIC Classic Credit Card, and LIC Select Credit Card are not subject to the utility surcharge. Therefore, there is no surcharge if the total of your utility bill transactions (gas, electricity and internet) within a statement cycle is Rs 20,000 or less. However, if they go beyond Rs 20,000, there would be an additional 18% GST on top of the 1 percent surcharge.

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