ICICI Bank has announced changes to certain cash transaction charges for savings accounts, with the revised rules set to take effect from December 1, 2026. Customers who frequently deposit or withdraw cash should check the new fee structure to avoid additional charges.
Under the revised rules, customers will continue to receive three free cash deposit and three free cash withdrawal transactions every month, subject to the applicable limits. However, charges may apply when customers exceed the permitted transaction limits or monthly cash transaction thresholds.
The bank has increased the cash transaction charge from Rs 3.50 to Rs 4 per Rs 1,000, with a minimum charge of Rs 150, according to the details provided.
What Will Change From December 1?
ICICI Bank has reportedly informed customers about the revised charges through email. The number of free transactions will remain unchanged, but the applicable charges for transactions exceeding the prescribed limits will be revised.
Here are the key details:
- Free cash deposits: Three transactions per month.
- Free cash withdrawals: Three transactions per month.
- Monthly cash deposit limit: Rs 1 lakh.
- Monthly cash withdrawal limit: Rs 1 lakh.
- Previous charge: Rs 3.50 per Rs 1,000.
- Revised charge: Rs 4 per Rs 1,000, subject to a minimum charge of Rs 150, as described in the provided details.
The applicable fee may depend on the transaction frequency and the total amount involved.
How Much Will You Pay for Cash Deposits?
Customers who stay within the prescribed free limits will not have to pay additional charges for eligible transactions. However, charges may apply if the monthly cash deposit exceeds Rs 1 lakh or the permitted number of transactions is crossed.
For example, if a customer’s total monthly cash deposit reaches Rs 1.01 lakh, a minimum charge of Rs 150 may apply under the stated fee structure.
If the total deposit reaches Rs 1.38 lakh, the charge calculated at Rs 4 per Rs 1,000 would be Rs 552 on the excess amount of Rs 1.38 lakh only if the entire amount were chargeable. The actual fee will depend on how the bank applies the revised rules and calculates the chargeable amount.
What Happens If You Deposit or Withdraw Cash More Than Three Times?
Customers who deposit or withdraw cash more than three times in a month may have to pay additional charges for transactions exceeding the free limit. A charge of Rs 150 per transaction may apply, depending on the applicable schedule.
Separate charges may also apply if the total monthly cash transaction amount exceeds the prescribed Rs 1 lakh limit.
Customers should check the latest official ICICI Bank schedule of charges for savings accounts to confirm the exact fees, applicable thresholds and calculation method before making additional cash transactions.