Banks Penal Charges for Savings Accounts – List of Banks with detail
Charges on savings bank accounts
Reserve Bank of India’s Master Circular on Customer Service in Banks provides that the policy on penal charges to be levied for non-maintenance of minimum balance in savings bank accounts may be decided with the approval of the Board of the bank concerned. Banks levy panel charges on non-maintenance of minimum balance in savings bank account in terms of the said Master Circular.
Details of charges levied on deposit of cash in savings bank accounts at bank branches of public sector banks is given below in the table.