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Revision in General Schedule of Fees & Charges for Savings and Salary w.e.f 1st June 2022 Click here to know more
| Particulars | Cherry Savings Account | ||
|---|---|---|---|
| Average monthly Balance | Zero | ||
| Funds Transfer | NEFT / RTGS / Funds Transfers / IMPS (Through Net / Mobile Banking)# | NEFT / IMPS/RTGS: Nil Charges | |
| NEFT / RTGS done through Branch | For NEFT: Upto 10000: Rs. 2; 10001 to 100000: Rs. 4; 100001 to 200000: Rs. 14; >200000: Rs. 24. | ||
| For RTGS: 200001 to 500000: Rs. 20; >500000: Rs. 40 | |||
| Cash Transactions | Cash Transactions at Branch / Cash Deposit Machine (Deposit or Withdrawal) | Nil Charges for 1 transaction or 10,000 / month, whichever is earlier (applicable for both cash deposit and cash withdrawal separately). Post these limits, charged at Rs. 4.5/- per Rs. 1000/- (Minimum Rs. 50) |
|
| Debit Card / ATM Charges (Virtual Debit Card) | Issuance / Annual Fee / Replacement | Nil charges | |
| Debit Card / ATM Charges (with Physical Debit Card) | Classic Debit Card-Annual Fees Or Replacement of Lost Debit Card (Physical Debit card) | Rs. 259 p.a. (available on request) | |
| Kotak Bank's ATM Financial Transaction / Non-Financial Transaction* | 5 financial Transaction / month @ nil charges, thereafter Financial Txn.- Rs. 21.00 / Txn. | ||
| No charge for non-financial transactions | |||
| Other Domestic ATMS – Financial Transaction / Non-Financial Transaction## | Maximum of 5 transactions @ nil charges (incl. financial & non-financial) in a month with a cap of Maximum 3 transactions | ||
| @ nil charges in Top 6#+ Cities, thereafter Financial Transaction 20.00 / Txn. | |||
| Non-Financial Transaction 8.50 / Txn. | |||
| Declined Transactions due to insufficient balance Transactions declined at merchant outlets/websites/ATMs, due to insufficient balance(w.e.f April 1,2019) |
Txn. declined charges Rs. 25 / instance | ||
| Cardless cash withdrawal (IMT) | Nil charges up to 1 transaction per month and subsequent transactions will be charged Rs. 10/- per transaction | ||
| Financial Transaction / Non-Financial Transaction at International ATM + | 150 / Txn. for Financial transactions and 25 / Txn for non-Financial transactions | ||
| DD / Pay order / Cheque book | DD / Pay Order | Rs. 4/- per Rs. 1000/- (Min 50 Max 10000) | |
| For senior citizens Rs. 3/- per Rs. 1000/- | |||
| FCY DD / TT / Cheque Collection / Revalidation / Cancellation / FCY Cheque Deposited and Return |
500.0 | ||
| At-par Cheque Book Charges | Chargeable Rs. 3 per cheque leaf (Available on request and Min 25 leaves in one cheque book when requested via Kotak Mobile Banking App) | ||
| ECS / Cheque Issued & Returned (due to non-availability of funds) | 500 / instance | ||
| ECS Mandate Verification | 50/ instance | ||
| SI Failure | 200.0 | ||
| Cheque deposited and returned (INR) | 200.0 | ||
| Cheque Issued & Returned for Non-Financial Reason | Rs. 50 / instance | ||
| Branch Requests | Duplicate Ad-hoc statement, Balance & Interest Statement, Foreign Inward Remittance Certificate, Duplicate Passbook, TDS Certificate Through Branch or any other Record Retrieval, Stop Payment – Single / Range of cheque thru branch; DD / PO / BC Revalidation / Cancellation( INR); Annual Combined Statement – Physical; Monthly Physical Statement; Regeneration of PIN-Net Banking/Phone |
100 / Request For senior citizens Rs. 75 / request |
|
| Statements & Alerts | Statements | Email statement @ nil charges (will be sent monthly Email statement by default) | |
| Physical statement @ 100 / Request | |||
| Balances and Transaction & Value added alerts (Daily / Weekly) | 50 p per SMS (Daily/Weekly) (available on request) |
||
| Other Charges | TOD | TOD: Rs 500 | |
| Cheque purchase | Cheque purchase charges: 0.5/1000 (Min 50; Max 10000) | ||
| Request for PIN generation/re-generation (sent through courier) | Rs. 100/request | ||
| ##Cash withdrawal limit from other Domestic ATM is Rs. 10000 per transaction. | |||
| #+ Top 6 Cities Transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad ATMs. | |||
| *Financial transaction at ATM will include Cash withdrawal, Non-Financial transaction will include balance enquiry, PIN change, Mini statement request. | |||
| Transaction and Value Added SMS alerts would be sent to the customers who have subscribed for Daily / Weekly. Balance Alerts facility. Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the Bank, will be sent free of charge, even if Daily / weekly Balance SMS alerts facility has not been subscribed. | |||
| # Indo - Nepal Remittance Scheme (NEFT Charges): If Beneficiary maintains an Account with Nepal SBI Bank Ltd. (NSBL): Rs. 25 per txn (incl all taxes). If Beneficiary does not maintain an Account with Nepal SBI Bank Ltd (NSBL): Upto Rs. 5000 – Rs. 75 per txn. & beyond Rs. 5000 – Rs. 100 per txn. (incl all taxes). Nil charges for NEFT done thru Mobile banking / Net Banking. | |||
| The Bank will charge cross-currency mark-up of 3.5% on foreign currency transactions carried out on Debit Cards. The exchange rate used will be the VISA / Master Card wholesale exchange rate prevailing at the time of transaction. | |||
| A charge of 1% on the transaction amount + GST will be applicable on cash withdrawal transactions done at merchant outlets (Cash@PoS) [w.e.f April 1,2019] | |||
| Charges are exclusive of the Goods and Service Tax (GST). | |||
| With effect from July 1, 2017 the effective Goods and Service tax rate will be 18% on taxable value. The GST rate is subject to change from time to time. | |||
| State Government Taxes/ Cess as applicable shall be charged. | |||
| With effect from September 1st 2019, TDS at the rate of 2% (plus applicable surcharge and cess) will be deducted on cash withdrawal in excess of one crore rupees in aggregate made during the financial year. | |||
| Any rejections in applications made through ASBA mode due to insufficient funds will attract charges of Rs. 350/- per rejection<> | |||
| As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts. | |||
| +Additional charges levied by another bank on international ATM transactions will also have to be borne by the card holder. | |||
| The above charges are subject to revision with a prior intimation of 30 days to all account holders. Closure of account due to revision of charges will not be subject to account closure charges. | |||
| ~Any purchase / sale of foreign exchange will attract Service Tax on the gross amount of currency exchanged as per Service Tax on Foreign Currency Conversion Charges (FCY) table below. | |||
| Value of purchase or sale of Foreign Currency | Value on which GST rate will be applicable | ||
| Up to Rs. 1,00,000 | 1% of the gross amount of currency exchanges or minimum of Rs. 250/- | ||
| Above Rs. 1,00,000 to Rs.10,00,000 | 1000 + 0.50% of the gross amount of currency exchanged less 1,00,000. | ||
| Above Rs. 10,00,000 | Rs.5500/- + 0.10% of the gross amount of currency exchanges less 10,00,000 subject to maximum of Rs. 60,000/- | ||
| Outward Remittances - Individual | Standard Charges | ||
| Telegraphic Transfer Charges (other than payment for imports) | INR 1250 + Tax | ||
| Correspondent Bank Charges (Outward remittance wherein the foreign bank charges are paid by remitter) | INR 1000 + Tax | ||
| Issue of FCY DD's | INR 750 + Tax | ||
| Commission in lieu of exchange (in case of debit from EEFC/RFC/SFC account) | 0.125 %; minimum INR 1,000 +Tax | ||
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