Contact Your Financial
Adviser Money Making MC
8
February 2017
Private
sector lender HDFC Bank has decided to levy a minimum of Rs150 for cash
transactions from 1 March 2017 for all savings and salary accounts. While first
four transactions (including deposits and withdrawals) in cash would be free,
the Bank customers will have to pay Rs150, excluding taxes and cess, for fifth
transaction onwards. With the increase in cash transaction charges, HDFC Bank
has withdrawn cash handling charges from March 2017. The Total Investment & Insurance Solutions
The
private sector lender has also put restrictions on value for cash transactions.
For home branch, the customer would be allowed to withdraw or deposit using
cash of Rs2 lakh per month. Above this limit, the bank customer will have to
Rs5 per thousand, but minimum of Rs150 plus taxes and cess. For cash transactions
in non-home branch, for an amount up to Rs25,000 per day, there would be no
charges. For cash above Rs25,000, the customer will have to pay Rs5 per
thousand or minimum Rs150, excluding taxes and cess. The Total Investment & Insurance Solutions
This
value restriction is application for third party cash transaction as well,
except that a transaction of over Rs25,000 will not be allowed. For senior
citizens and minor account holders, the limit of Rs25,000 would be there, but
no charges would be levied, HDFC Bank said in a notification on its website.The Total Investment & Insurance Solutions
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