YES Bank, ICICI Bank to change service charges on savings accounts from May 1: Details

Minimum monthly average balance, cash transaction charges, ATM interchange fees, etc are some of the different banking services that ICICI Bank will revise.

Published on: Apr 22, 2024, 12:26:21 IST

By HT News Desk

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Starting on May 1, Yes Bank and ICICI Bank will modify their savings account servicing fees. In addition, both banks have made the decision to discontinue select account types.

Yes Bank will revise its minimum average balance (AMB) requirements across different savings account variants,

ICICI Bank:

Minimum monthly average balance (MAB), cash transaction charges, ATM interchange fees, etc are some of the different banking services that ICICI Bank will revise.

ICICI Bank's regular savings account’s revised charges are:

> IMPS – Outward Transactions: The bank will introduce tiered charges based on transaction amounts, ranging from ₹2.50 to ₹15 per transaction, depending on the transaction value.

> Cash Transaction Charges: ICICI Bank will adjust charges for transactions at home and non-home branches, including third-party transactions.

> Debit card annual fees: ₹200 p.a. ( ₹99 p.a. for Gramin locations).

> Cheque books: Nil for 25 cheque leaves in a year and ₹4 per leaf thereafter.

Yes Bank:

Yes Bank will also revise its minimum average balance (AMB) requirements across different savings account variants:

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> Savings Account Pro Plus, Yes Essence SA, and YES Respect SA will necessitate an AMB of ₹25,000, with a maximum charge of ₹750.

> Savings Account PRO will mandate an AMB of ₹10,000, with a similar maximum charge of ₹750.

> ₹5000 for Savings Value / Kisan SA, the maximum charge is ₹500

> ₹2500 for My First YES, the maximum charge is ₹250

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