Business
oi-Vipul Das
Private sector lender ICICI Bank has revised its ATM transaction fees for domestic savings account holders. According to the bank’s official website, the new fees go into effect on January 1, 2022. The bank has increased the price of cash withdrawals from ICICI Bank / Cash Recycler ATMs to Rs. 21 per transaction, from Rs. 20 before . The first five financial transactions of a month are free at ICICI Bank; after that the bank would charge Rs 21 per financial transaction following the latest update. Non-financial transactions such as balance request, mini-statement and PIN code change will be free.
The bank has also increased the service charge for ATM exchange transactions at non-ICICI ATMs from Rs 20 to Rs 21 per financial transaction. The bank also charges Rs 8.50 per non-financial transaction. The first three one-month transactions at ICICI Bank, including financial and non-financial transactions, are free in six metropolitan areas (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad). The bank also offers free transactions at all other locations for the first five transactions per month, including financial and non-financial transactions. In the 6 cities mentioned above, ICICI Bank offers a maximum of 5 free transactions per month, with a ceiling of 3 free transactions.
Taxes at the prevailing rates set by the government will be applied in addition to the charges mentioned.
On savings accounts, ICICI Bank currently offers an interest rate of 3.00% for the end of day balance below Rs. 50 Lakhs and 3.50% for the end of day balance of Rs. 50. lakhs and more. These interest rates are applicable from June 4, 2020.
Article first published: Monday, January 10, 2022, 8:46 a.m. [IST]
