Savings Account Charges: These 2 large banks to revise savings account fees from May 1 – Details

financialexpress.com:

Do you have savings accounts running with ICICI Bank or YES Bank? There will be some changes regarding savings account charges for customers by these two banks, effective May 1, 2024, according to details shared by both the lenders on their official websites. Additionally, these two banks have decided to discontinue select account types.

Here’s what ICICI Bank website says about revised savings account charges:

Service charges are set to be revised for a range of savings account services, including cheque books, IMPS, ECS/NACH Debit Returns, stop payment charges, and more, with effect from May 1, 2024.

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Take a look at all the revised savings account service charges by ICICI Bank:

Here’s what YES Bank website says about revised savings account charges:

Another private sector big bank, YES Bank, too has revised its savings account charges. According to YES Bank’s official website, the new charges will be effective from May 1, 2024. Additionally, the bank has discontinued a few account types.

YES Bank savings account schedule of charges:

The requirement of Average Monthly Balance (AMB), as defined by YES Bank from time to time, at select locations:

If balance maintained is:

“^AMB requirement, as defined by YES BANK from time to time, at select locations, is Rs 5,000 for YES Grace, Rs 2,500 for YES Respect and Rs 2,500 for YES Value. For Kisan Savings A/c, Average Yearly Balance (AYB) of Rs 1,000 is required at all locations. For Savings value where AMB requirement is Rs 2,500, Maximum Charges for non-maintenance of balances is capped at Rs 125 per month. For Kisan Savings A/c, Charges would be Rs 100 per annum,” as