Debit Card Replacement Charges : Many banks start charging for your debit card from the second year onwards. This charge is automatically deducted from the customers’ savings account.
This charge depends on the type of debit card. The service charge will also be the same depending on the type of your card. Banks also charge charges if the card is stolen or lost. Here we are telling you about the charges on debit cards of major banks of the country.
According to the banks’ website, these are the debit card replacement charges..
SBI Debit Card Replacement Charge (SBI Bank)
State Bank of India charges Rs 300 plus GST debit card replacement charge. GST is applicable at the rate of 18%.
HDFC Bank replacement or re-issue of debit card costs Rs 200 plus GST.
ICICI Bank charges Rs 200 plus GST for debit card. GST is 18 percent.
Yes Bank charges Rs 199 and GSAT.
Canara Bank charges Rs 150 plus tax. GST on this is 18 percent.
Punjab National Bank
PNB charges between Rs 150 to Rs 500 depending on the card as debit card replacement charge.
Charges are deducted for not maintaining minimum balance
Most banks ask to maintain a minimum balance in their savings account and for this they also keep a fixed amount. If the balance is less than that decided amount, the bank charges you a penalty by deducting the amount. The amount of penalty imposed by all banks is different. This also varies according to the area of the branch.
In branches in urban areas, more money is deducted for not maintaining minimum balance. Whereas, the same bank will deduct less money in branches in rural areas.