From today, ICICI and YES Bank will make significant revisions in terms of investment, mutual fund KYC norms, surcharges on utility payments, and others. In April, both banks had said they would revise their charges for savings accounts from May 1. In addition to that, both banks have said that credit card users have to shell out a 1 per cent surcharge fee on all utility bill payments. A utility bill is a regular payment to a service provider for their important services. Keep reading this space to know about the changes done in the cases of both banks-
ICICI Bank
1. Debit Card charges
There will be a yearly fee of Rs 200 for regular locations and Rs 99 for Gramin locations.
2. Cheque Books
The first 25 cheque leaves annually are free of charge and beyond that, there is a charge of Rs 4 per leaf. There is a transaction cap (an amount equal to the Purchase Consideration) as well of Rs 25,000.
3. IMPS (Immediate Payment Service) Charges:
Amount up to Rs 1,000 – Rs 2.50 for every transaction
Amount more than Rs 1,000 to Rs 25,000 – Rs 5 per transaction
Amount more than Rs 25,000 to Rs 5 lakh – Rs 15 per transaction.
4. Stop Cheque Payment Charges:
For a specific cheque – Rs 100 (Free through customer care IVR and internet banking).
5. Issuance of Duplicate passbook:
The bank will charge Rs 100 for the issuance of duplicate passbooks and Rs 25 per page for updation.
Yes Bank
In the case of Yes Bank, the Average Yearly Balance (AYB) for the Kisan Savings A/c, Average Yearly Balance (AYB) of Rs 1,000 is required at all locations.
Savings Account Pro Plus, Yes Essence savings account, and YES Respect savings account will necessitate an Average Monthly Balance of Rs 25,000, with a maximum charge of Rs 750.
Savings Account PRO will mandate an AMB of Rs 10,000, with a similar maximum charge of Rs 750.
As per the latest regulations, Yes Bank customers will have a free usage limit of Rs 15,000 in the billing cycle. Beyond that, the Yes Bank will add GST and a 1 per cent tax to the expenditure.
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