HDFC Bank’s New Rules, Charges On More Than Four Cash Transactions
India’s leading private sector Bank HDFC will implement the new rules in their savings and salaries accounts from March 1, 2017. Under this rule, the salary and savings account holders will be able to withdraw or deposit money only four times in the bank for free. Four banking transactions in the bank will include the number of both depositing and withdrawing. If saving or salary account holder will deposit or withdraw money for the fifth time in the bank then it will levy Rs 150 as charge also the customer will have to pay tax and cess. The Max HDFC Bank Savings Account holders will not be charged for five transactions. These account holders on the sixth transaction will be charged Rs 150 per transaction and will have to pay tax and cess as well.
The Max HDFC Bank Savings Account holders will not be charged for five transactions. These account holders on the sixth transaction will be charged Rs 150 per transaction and will have to pay tax and cess as well.
Salary and savings account holders from their home branch can withdraw 2 lakh per month free of charge. The withdrawal above Rs. 2 lakh will be charged at Rs 5 on every thousand. While only Rs. 25,000 can be withdrawn from the non-home branch for free. The amount more than Rs 25,000 will be charged at Rs.5 on every Rs 1,000. For third-party transactions, the bank has earmarked Rs 25,000. Third-party transactions will be charged at Rs 150 for Rs. 25,000 withdrawal plus tax and cess will have to be paid extra. The third party transactions above Rs 25,000 are not allowed. Senior Citizen and minor can only withdraw up to Rs. 25,000 and no charges will be levied for such transactions. Bank fee for cash transaction will be applied from March 1, 2017,