Notice to SB/CA/OD Account Customer

Notice to SB/CA/OD Account Customer

Introduction of new service charges including charges towards non-maintenance Of Monthly Average Balance (MAB) & Revision in existing service charges for Savings Account / Current Account/Overdraft Account

It has been decided to introduce /revise certain service charges and also introduce penal charges for non-maintenance of MAB w.e.f. July 1, 2015 which would be applicable to existing and new customers of the Bank.

Further, it has also been decided to implement the following criteria w.e.f July 1, 2015 for both existing and new customers:

1. The balance maintenance requirements under all savings product variant is being shifted from the present Average Quarterly Balance (AQB) to Monthly Average Balance (MAB);

2. Charges towards non-maintenance of MAB under both Savings Bank as well as Current Account variant is being introduced;

3. All the existing and the revised new charges would be quoted exclusive of Service Tax and the Service tax would be recovered from the customer over and above the charges towards services;

4. Balance requirement is defined based on branch classifications from the present Tier A and B to Metro, Urban, Rural and Rural FI and the separate lower balance requirements additionally has been defined for Rural and FI branches.

The details of the various changes are given in attached Annexure as listed below:

Introduction of charges related to non-maintenance of MAB

Annexure - I

Introduction of charges for services currently not being charged Annexure - II
Service Charges increased in existing SB & Current/Overdraft Account variants Annexure - III
Revision in Debit Card charges Annexure - IV

All the existing charges other than those listed in Annexure would continue albeit the same would be excluding the service tax. Service Tax would be recovered over and above the service charge quoted.