IDBI Banks New Rule – Rs 5 per Cheque Leaf will be Charged from Account holder


IDBI is all set to introduce the revised services in bank accounts, the free transaction limits and locker facilities discounts offered to individual savings bank customers are being revised from 1st July, 2021.

Accordingly, from next month customers will have to pay Rs 5 per cheque leaf beyond 20 free leaves per year, as currently it offers 60 cheque leaves in account opening year and 50 leaves in the subsequent years. While, Customers holding the ‘Sabka Saving Account’ will not come under this and will be able to get unlimited free cheque leaves in a year.

Further, for depositing cash, the number for free transaction per month for semi-urban and rural branches  has been decreased to 5 each from the existing 7 and 10, respectively for various savings accounts. As for super saving plus account it will be 8 each as against 10 and 12 in semi-urban and rural areas respectively.

Besides, it has also decreased the number of free transactions from other bank ATM per month for Jubilee Plus and Super shakti accounts by half to 5 transactions.

Among others, the Jubilee Plus senior citizen account holders will get no discount on locker rent if the monthly average balance (MAB) is less than Rs 10,000.Customers will get 10 per cent discount on Rs 10,000-24,999 balance for all 12 months and 15 per cent for Rs 25,000 and above MAB. The same revised charges will be applicable on Super shakti women’s account for locker rent. The discount will be offered only on A and B size lockers, the bank said.

However, currently, the bank offers 25 per cent discount on locker rent if Rs 5,000 is maintained as AQB (average quarterly balance) in all four quarters.


Knowledge Source:

ATM Transaction Charges to be Increased from 1st January 2022

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