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Non-Maintenance of Minimum Balance: Most savings and current accounts require a minimum average balance (MAB). Failure to maintain this can result in charges, which may vary based on the account type, location (metro, urban, semi-urban, rural), and the extent of the shortfall. For instance, some banks might charge a percentage of the shortfall plus GST, with different rates for different customer segments or locations. However, some banks are moving towards zero charges on non-maintenance for certain savings account schemes from July 1, 2025.
ATM Transactions: While many banks offer a certain number of free ATM transactions per month (typically varying between own bank ATMs and other bank ATMs), exceeding these limits incurs charges. Failure at an ATM due to insufficient funds might also attract a fee.
Cheque Services: Banks may charge for issuing duplicate cheque leaves, cheque returns (due to insufficient funds or other reasons), and stop payment instructions.
Account Statements and Passbooks: While digital statements are often free, requesting duplicate physical passbooks or account statements (especially with past entries) usually incurs a fee.
Fund Transfers:
Debit and Credit Cards: Annual maintenance fees, card replacement fees, and charges for certain transactions like cash withdrawals abroad can apply.
Remittances: Services like Demand Draft (DD) or Pay Order (PO) issuance, cancellation, or revalidation can attract fees. Local outward remittances might be free with some banks, while outstation remittances have charges based on the amount.
SMS Alerts: Many banks charge a nominal fee for SMS alerts, often on a per-SMS or per-quarter basis, with some exceptions for certain transaction types or account categories.
Other Services: Fees can also apply for services such as locker rentals, balance certificates, address or signature verification, loan processing, and processing of financial instruments like Bills or Letters of Credit.
It's important for customers to refer to their respective bank's official website or branch for the most current and detailed list of service charges.
