Rs 2000 Note Exchange: After the announcement of the Reserve Bank, banks have started exchanging Rs 2000 notes. Although RBI has not imposed any limit on the customers in its notification, but banks have started imposing different rules on this on their behalf.
New Delhi. After the announcement of the Reserve Bank of India, once again the emergency of changing the notes has started in the banks. This time RBI has announced to withdraw Rs 2000 note from circulation. Governor Shaktikanta Das has said that though this note will remain in circulation till September 30, but before that it should either be deposited in the bank or exchanged.
After this announcement, banks have also started the process of exchanging notes from May 23. However, RBI has not imposed any limit on the number of times a person can exchange or deposit notes. To put a stop to this, banks have now made a rule to charge fees for exchanging notes. Many banks have talked about taking service charge on the transaction. We are telling you how much other big banks including SBI will charge for changing notes.
SBI will give 3 free deposits
The country’s largest government bank SBI (State Bank of India) will only provide the facility of 3 free cash deposits in a month. After this the bank has said to collect 50 rupees and GST. The same facility will be applicable for crediting money to a customer’s account. There is no charge for depositing cash through machine, while depositing through debit card will cost Rs 22 plus GST.
HDFC is giving 4 free transactions
HDFC Bank, the largest private sector bank, has said to give 4 free transactions every month. Beyond this limit, the bank will charge a transaction fee of Rs 150. After the limit, the customer will be able to deposit Rs 2 lakh every month. Above this Rs 5 per thousand or Rs 150 and tax will have to be paid.
ICICI Bank is also giving 4 transactions
ICICI Bank, the second largest private sector bank, has given the facility of free transaction to the customer 4 times in a month. After this, a fee of Rs 150 will have to be paid on every transaction. Customers can deposit only Rs 1 lakh in their savings account in a month. After this limit, Rs 5 per Rs 1000 or Rs 150, whichever is higher, will have to be paid as a fee.
Kotak Bank is giving 5 free transactions
Kotak Mahindra, another private sector bank, has also talked about giving 5 free transactions to the customer every month. This includes both deposits and withdrawals. After crossing this limit, a levy of Rs 150 will be imposed. This charge will be the same whether you deposit the money in the bank branch or through the machine.
