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).
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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.
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