South Indian Bank: South Indian Bank account charges are changing from next month. If the monthly average minimum balance is not maintained, the new amount will be charged. Debit card charges are also changing.
South Indian Bank: This time South Indian Bank has changed the charges and various benefits of the savings account. The new rates will be applicable to these private banks from July 1 this year. Recently an email was sent by this bank to its customers. According to the email, charges have been revised in various areas including average monthly bank balance, debit card issuance, annual maintenance charges, locker fees and cash handling.
Minimum balance
Bank authorities have said that in case of savings accounts, from July 1, if the minimum balance is not maintained, a fee of up to Rs 200 will be charged. This private bank requires an average monthly balance of Rs 500 in general savings accounts in metro, urban, semi-urban and rural areas. Savings Bank (Female) Elite or Elite Senior account in metro area Rs.2500. 1000 should be kept in rural areas. Besides, in case of SIB Gen Next, Youth Plus, Privillege Gold, a minimum balance of Rs 5000 should be maintained in metro cities. 5000, 2500 and 2500 should be kept in rural area account respectively.
Charges for Debit Card
South Indian Bank’s maintenance fee depends on the card type. There is a minimum maintenance fee of Rs 250 to 500. Debit card eligibility depends on the customer’s savings or current account category. Debit card repin charges Rs.100. No money is required for a green pin. This private bank allows up to five free domestic transactions per month in financial and non-financial sectors for
ATM usage charge savings account customers.
From July, cash withdrawal charges at other banks will be Rs.21. Besides, for other transactions, 11 rupees will be charged.
Locker Charges
Like every bank there are separate charges for different lockers including Alpha, Beta, Gamma, Delta. Besides, metro, urban and semi-urban or rural areas have different charges. In case of Alfa the fare in metro city is Rs.1600. But deposit is 9800 rupees.
