Latest savings account charges: ICICI Bank, Axis Bank, Yes Bank

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.

Here is a look all the different savings account services charged that have been revised by ICICI Bank

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; Account closure: NIL; Debit Card PIN regeneration Charges:NIL; Debit Card de – hotlisting: NIL; Balance Certificate, Interest Certificate: 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; 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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Axis Bank has revised savings account tariff structure for savings, salary accounts average balance minimum criteria, and cash transaction limitations. The new tariff will be effective from April 1, 2024, as per the Axis Bank website.

Revision in average balance requirement criteria for Priority Savings Accounts
For Priority savings accounts, the average balance requirement has been changed from an average quarterly balance (AQB) of Rs 200,000 to an average monthly balance (AMB) of Rs 200,000
Existing: Average Quarterly Balance (AQB) of Rs 200,000
Revised: Average Monthly Balance (AMB) of Rs 200,000
Rationalisation of free cash transaction limit
For Prime/Liberty/Prestage and Priority savings accounts, there is a monthly free limit on third-party cash transactions.

Cash transaction limits are revised as per the details given below:
Revised
Separate third party transaction free limit of INR 25,000 per month.
Beyond free limit, INR 10 per thousand, subject to a minimum of INR 150/- Remaining cash transactions to continue as
PRIME/LIBERTY – First 5 transactions / transactions upto INR 1.5 lacs per month
PRESTIGE – First 5 transactions / transactions upto INR 2 lacs per month
PRIORITY – First 7 transactions / transactions upto INR 5 lacs per month

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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.
Yes Bank savings account schedule of charges

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

Yes Bank revises savings account charges with effect from May 1, 2024

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

According to the Yes Bank website, “^AMB requirement, as defined by YES BANK from time to time, at select locations, is Rs. 5000 for YES Grace, Rs. 2500 for YES Respect and Rs. 2500 for YES Value. For Kisan Savings A/c, Average Yearly Balance (AYB) of Rs. 1000 is required at all locations. For Savings value where AMB requirement is Rs. 2500, Maximum Charges for non-maintenance of balances is capped at Rs. 125 per month. For Kisan Savings A/c, Charges would be Rs. 100 per annum.”

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

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First 5 transactions free per month;
thereafter Financial Transaction – Rs. 21 per transaction
Non-financial Transaction- Rs. 10 per transaction.

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