Get Ready To Pay Rs.150 And Above To Your Bank After Your 4th Cash Transaction In A Month

From April 1 onward banks, including SBI, HDFC Bank, ICICI Bank and Axis Bank will start levying a minimum charge of Rs 150 per transaction for all cash deposits and withdrawals beyond the four free transactions that are allowed in a month (these include both cash withdrawals and deposit).

India Today

The charges will apply to both savings and salary accounts and will come into effect from April 1 onward with the pay an additional Rs 150 for the fifth transaction and consumers also having to pay cess and an additional service tax.

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Further, while transaction of Rs 25,000 from a non-home branch will not cost you anything, for any transaction above Rs 25,000 you will have to pay Rs 5 per thousand or a minimal amount of Rs 150 once.

The person would also have to pay tax and cess on this amount.

India TV News

The same rule will apply to home branches as well but the cash limit for this (deposit and withdrawal) will be Rs 2 lakh and any amount exceeding that will cost a transaction charge of Rs 5 per thousand rupees or Rs 150 plus the tax and the cess.