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

April 22, 2017

Banks Penal Charges for Savings Bank (SB) 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 Charge on deposit of cash in savings bank account at bank branch
Allahabad Bank No charges
Andhra Bank No charges
Bank of Baroda Home branch: 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).
Indian 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. 11,500
United Bank of India No charges
Vijaya Bank No charges

Related posts:

  1. Charges on Digital Transactions
  2. Dearness Relief payable for the period August 2018 to January 2019 to surviving pre 1.1.1986 retirees of banks
  3. RBI Instructions on 28.11.2016 – Relaxation on withdrawal of cash from bank deposit accounts
  4. Removal of state-wise jurisdiction of Banks for disbursement of Central Government (Civil) Pensioners : CPAO
  5. Opposing merger with SBI, unions in associate banks to strike work
  6. Condemn the Demand of ASSOCHAM to Privatise Banks – Press Release
  7. Limit on Cash Withdrawals from SB Accounts raised to 50, 000 per week – RBI
  8. Banks confirm participation in September 2 general strike nationwide
  9. AIBEA Demanding : One day’s strike on 8th January, 2016 by all members working in all the Banks including the Associate Banks
  10. SBI should withdraw the steep hike in service charges immediately

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