ICICI Bank to hike select savings account cash transaction charges from December 1: Check new rates

ICICI Bank customers will see changes to select Savings Account service charges from December 1, 2026, with the bank revising fees for cash transactions exceeding prescribed limits and repeated ECS debit returns.

The revised charges are detailed in the bank’s account-specific schedules, which cover regular Savings Accounts, senior citizens and pensioners, and several specialised account categories. The applicable charges differ depending on the type of account.

Cash transaction charges to rise from December 1

For accounts covered by the revised cash transaction schedule, the number of complimentary transactions will remain unchanged. Customers will continue to receive three free cash deposits and three free cash withdrawals per month.

Once the free transaction limit is exhausted, a charge of ₹150 per transaction will apply.

The monthly value-based complimentary limit will also remain unchanged at ₹1 lakh each for deposits and withdrawals. However, the fee for exceeding this limit will increase from ₹3.50 to ₹4 per ₹1,000, or ₹150, whichever is higher.

If both the number-based and value-based limits are breached in the same transaction, the higher of the applicable charges will be levied.

How much more will customers pay?

The increase in the value-based fee could affect customers who frequently carry out high-value cash transactions beyond their complimentary monthly limits.

For instance, on an excess amount of ₹1 lakh, the value-based component would rise from ₹350 to ₹400, before considering the minimum charge of ₹150 and applicable GST.

The final charge will depend on the transaction amount and whether the customer has also exceeded the number-based limit.

ECS debit returns

ICICI Bank is also revising charges for ECS debit returns arising from financial reasons, such as insufficient funds.

• First return: ₹500

• Second return: ₹550

• Third return: ₹550

The bank will recover charges for a maximum of three return instances per month for the same mandate.

Under the revised structure, the second and third return charges will each increase by ₹50 compared with the existing flat fee of ₹500 per instance.

Customers with recurring payments linked to ECS mandates should ensure that sufficient funds are available in their accounts on the scheduled debit dates to avoid additional charges.

Do the revised charges apply to senior citizens?

Senior citizens and pensioners are covered under a separate ICICI Bank Savings Account schedule. The bank has also published separate schedules for other account categories, including student accounts, Basic Savings Bank Deposit Accounts and accounts for visually impaired or incapacitated customers.

The applicable fees and exemptions vary by account type. Customers should therefore consult the relevant schedule rather than assume that every charge applies uniformly to all Savings Account holders.