If you have an account with HDFC Bank, you now need to be more careful with cash transactions, checkbooks, and branch transfers.
India’s largest private sector bank has made big changes to its service charge policy.
While the bank says these steps will help improve services, they will also affect customers’ pockets.
With a market cap of ₹15.26 lakh crore, HDFC Bank’s new rules apply to millions of customers.
From now on, you need to plan carefully for cash deposits, withdrawals, NEFT/IMPS transfers, and checkbook usage, otherwise you may end up paying extra charges.
New Rules for Cash Transactions
Earlier, customers could deposit or withdraw ₹2 lakh per month free of charge. Now, this limit has been cut to ₹1 lakh per month.
After crossing this limit, a charge of ₹5 per ₹1,000 (minimum ₹150) will apply.
Only 4 free cash transactions are allowed per month. After that, you must pay ₹150 per extra transaction.
For third-party cash transactions, the daily limit is fixed at ₹25,000.
Changes in IMPS, NEFT, and Checkbooks
IMPS Transfers
Up to ₹1,000: ₹2.5 for regular customers, ₹2.25 for senior citizens.
Earlier, transfers above ₹1 lakh cost ₹15. Now, it has been reduced to ₹13.5.
NEFT (at branch)
Up to ₹10,000: ₹2 (regular), ₹1.8 (senior citizens)
₹1–2 lakh: ₹14 (regular), ₹12.6 (senior citizens)
Above ₹2 lakh: ₹24 (regular), ₹21.6 (senior citizens)
Checkbooks
Savings account holders will now get only one free checkbook of 10 pages per year (earlier 25 pages).
For extra checkbooks, customers must pay ₹4 per page.
Senior citizens will get slightly lower rates.
How to Save Money Under New Rules
Banking experts suggest these tips to avoid unnecessary charges:
Prefer digital transactions: IMPS and NEFT online are cheaper than visiting a branch.
Use UPI/QR codes: Free for small payments.
Plan cash withdrawals: Try to withdraw cash once or twice a month.
Avoid third-party transactions: Above ₹25,000 per day is not allowed.
Use checkbooks carefully: Since each page now has a cost, go digital when possible.
Senior citizen benefits: Use discounts available for senior citizen accounts.
