Now, banks to levy additional charge on transactions above limit from March 1

As the people are overcoming from the phase of cash crunch after demonetisation, they may have to shell out more if they do transactions above a certain limit.

Come March 1, a few leading banks will be levying charges on additional cash transactions.

Following the suit, HDFC bank has already issued a notification to its customers that they will have to pay charges for cash transactions after a certain limit.

The bank has clarified that only four cash transaction collectively, including deposit and withdrawal, will be free and the customers will have to pay Rs 5 or Rs 150 per Rs 1000 transaction depending on the amount.

Now, an HDFC customer can withdraw or deposit total Rs 2 lakh rupees per month sans any transaction fee.  Even, ICICI bank is also planning to put the condition.

So, every fifth transaction, for cash withdrawal and deposit collectively, will be levied with Rs 150 or Rs 5 per Rs 1000. The bank did not specify any maximum amount limit.

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