Starting July 1, major private banks like HDFC Bank and ICICI Bank will increase fees on credit cards and other banking services.
HDFC Bank has informed customers about new charges, especially on credit card spending for online gaming, digital wallets, and utility payments.
If you spend more than Rs 10,000 in a month on online skill-based games such as Dream11, Rummy Culture, Junglee Games, or MPL, HDFC will charge 1% of the total amount spent in this category.
This fee will be capped at Rs 4,999 per month, and you won’t earn reward points on these gaming transactions.
Similarly, if you load over Rs 10,000 in a month onto third-party wallets like Paytm, Mobikwik, Freecharge, or Ola Money using your HDFC credit card, a 1% fee will apply. This charge is also capped at Rs 4,999 per month.
For utility bill payments above Rs 50,000 in a month, a 1% fee will be charged, with the same maximum limit.
Insurance payments are excluded from utility payments, so no extra fees will apply there.
Charges for rent payments stay at 1%, capped at Rs 4,999 per transaction.
Fuel transactions above Rs 15,000 will have a 1% fee.
Education payments made directly on official school or college websites or card machines will remain free.
ICICI Bank Revises Service and ATM Charges
ICICI Bank has also updated several fees for its customers:
For cash deposits, cheque deposits, demand drafts (DD), and pay orders (PO), the new charge is Rs 2 for every Rs 1,000 deposited.
The minimum fee is Rs 50, and the maximum fee is Rs 15,000. Earlier, the charge was Rs 50 for amounts up to Rs 10,000, plus Rs 5 for every additional Rs 1,000.
ATM fees have increased. After three free transactions at other bank ATMs, ICICI will now charge Rs 23 for financial transactions (up from Rs 21) and Rs 8.5 for non-financial transactions.
The annual fee for ICICI debit cards has gone up from Rs 200 to Rs 300.
