What is IMPS?

IMPS i.e. Immediate Payment Service is a real-time payment service run by NPCI i.e. National Payment Corporation of India. Through this, you can send money instantly 24×7. Its maximum limit is Rs 5 lakh per transaction. SMS and IVR are not included in this.

Now if you send money through IMPS, keep in mind that different banks will have different charges. The charge is less for small amounts, but it can go up to Rs 20 for large amounts. Therefore, before making a transaction, definitely check the rules of your bank.

SBI – State Bank of India new charges

SBI has imposed charges on online IMPS from 15th August 2025.

Rs 25,000 to Rs 1,00,000: Rs 2 + GST

Rs 1,00,000 to Rs 2,00,000: Rs 6 + GST

Rs 2,00,000 to Rs 5,00,000: Rs 10 + GST

Earlier all these transactions were absolutely free.

Canara Bank new charges

Up to Rs 1,000: No charges

Rs 1,000 – Rs 10,000: Rs 3 + GST

Rs 10,000 – Rs 25,000: Rs 5 + GST

Rs 25,000 – Rs 1,00,000: Rs 8 + GST

Rs 1,00,000 – Rs 2,00,000: Rs 15 + GST

Rs 2,00,000 – Rs 5,00,000: Rs 20 + GST

Punjab National Bank new charges

Up to Rs 1,000: No charges

Rs 1,001 – Rs 1,00,000:

From Branch: Rs 6 + GST

Online: Rs 5 + GST

Above Rs.1,00,000:

From Branch: Rs 12 + GST

Online: Rs 10 + GST

HDFC Bank’s new charges (effective from 1 August 2025)

Up to Rs 1,000:

Regular customer: Rs 2.50

Senior Citizen: Rs 2.25

Rs 1,000 – Rs 1,00,000:

Regular: Rs 5

Senior Citizen: Rs 4.50

Above Rs.1,00,000:

Regular: Rs 15

Senior Citizen: Rs 13.50

HDFC Gold and Platinum account holders will not have to pay any charges.

The post SBI, HDFC, PNB & Canara Bank Revise IMPS Transfer Charges – Full Details Inside first appeared on Rightsofemployees.com.

HDFC Bank, the country’s largest bank by market capitalisation, has clarified that it has not made any change in the average minimum balance (AMB) of savings accounts. Some recent reports had claimed that the limit has been increased to Rs 25,000 in urban areas, but the bank said this is incorrect.

According to the bank, the average minimum balance for a regular savings account will remain at Rs 10,000. For a Savings Max account, the limit will remain at Rs 25,000. HDFC Bank said that different types of savings account options are available across rural, semi-urban, urban and metro branches, depending on the needs and profile of the customers. The bank will give preference to Savings Max accounts for new account openers in metro cities.

ICICI Bank reduces balance limit

Meanwhile, following customer dissatisfaction, ICICI Bank has changed the rules of minimum account balance (MAB) of its savings account. Now this limit has been reduced from Rs 50,000 to Rs 15,000 in metro and urban areas. For semi-urban areas, it has been reduced from Rs 25,000 to Rs 7,500 and for rural areas, it has been reduced from Rs 10,000 to Rs 2,500. This decision will be applicable to accounts opened from August 1.

What is the Average Minimum Balance?

Average minimum balance is the amount that a bank asks its customers to maintain on average in their savings account every month. It is decided by the bank as to what amount account holders are required to maintain in their account so that the account can run smoothly and avail the services provided by the bank. If account holders fail to maintain this average minimum balance amount, the bank may impose a penalty or charge.

The post HDFC Bank clarifies, No Change in Minimum Balance, Regular Account Remains at ₹ 10,000 first appeared on Rightsofemployees.com.

ICICI Bank has set a minimum balance of ₹50,000 for new savings accounts across cities, which could be a challenge for income earners. This rule will come into effect from August 1, 2025.

ICICI’s minimum monthly average balance has been raised to ₹25,000 at semi-urban branches and ₹10,000 at rural branches, up from ₹5,000 and ₹5,000 respectively earlier.

If ICICI Bank customers do not maintain the prescribed minimum balance, they will have to pay a penalty of 6% on the shortfall amount and a maximum of ₹500.

SBI completely removed the minimum balance requirement from both urban and rural savings accounts in 2020, providing great relief to customers.

Punjab National Bank and Canara Bank have also abolished the penalty for not maintaining minimum balance, benefiting savings account holders.

Union Bank of India requires a minimum balance of ₹250 at rural branches and ₹1,000 at urban branches, while these limits are lower without a chequebook.

The country’s largest private bank, HDFC Bank, asks for a minimum balance of ₹2,500 in rural branches and ₹25,000 in urban branches, which is much lower than ICICI.

The minimum balance in IDFC First Bank ranges from ₹10,000 to ₹25,000, depending on the category the account falls under.

The post ICICI, HDFC, SBI Minimum Balance Rules 2025: Complete Bank-Wise Details You Must Know first appeared on Rightsofemployees.com.

Earlier in May, some government banks had also changed their transaction charges as per the new guidelines of RBI. Now many private banks have also joined it. This will have a direct impact on the pockets of common customers, especially those who use ATM several times every month.

ICICI Bank’s new charges: Increased expenses on ATM, IMPS, demand draft

ICICI Bank has informed its customers that from July 1, charges have been increased on services like ATM, IMPS and DD. Up to 3 transactions are free every month in metro cities (Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore). Up to 5 transactions will be free in non-metro cities. After this, you will have to pay Rs 21 every time you withdraw money and Rs 8.50 on non-financial transactions like balance check or mini statement. 18% GST will be levied separately on these charges.

Making a demand draft has also become expensive now

If you make a demand draft (DD) or pay order (PO) in ICICI Bank through cash, cheque or transfer, then now you will have to pay more charges for it than before. Under the new rule, the bank has fixed a charge of ₹50 on an amount up to ₹10,000. On the other hand, if the amount of the draft is more than ₹10,000, then a charge of ₹5 will be taken for every ₹1,000. However, the minimum charge will be limited to ₹75 and the maximum to ₹15,000. The bank has also fixed concessional rates for senior citizens, students and customers of branches in rural areas.

Transactions of NEFT and RTGS from branch became expensive

ICICI Bank customers will have to pay charges according to different slabs for doing NEFT and RTGS through branch. If you go to the branch and do NEFT, then you will have to pay ₹2.25 for transactions up to ₹10,000, ₹4.75 for transactions up to ₹1 lakh, ₹14.75 for transactions up to ₹2 lakh and ₹24.75 for transactions up to ₹10 lakh. For RTGS transactions, a charge of ₹20 will be levied on amounts from ₹2 lakh to ₹5 lakh. The good thing is that if you do NEFT or RTGS online, then you will not have to pay any charge on it.

If you send money through IMPS, then you will also have to pay a charge according to the transaction amount. In ICICI Bank, you will have to pay ₹2.50 for sending an amount up to ₹1,000, ₹5 for up to ₹25,000 and ₹15 for an amount up to ₹5 lakh. These charges have been implemented from 1 May 2024.

Withdrawing money from ATM abroad is expensive

If you are travelling abroad and withdraw money from an ATM, ICICI Bank will now charge Rs 125 and 3.5% currency conversion charge on every transaction. Rs 25 will have to be paid separately for non-financial transactions. Senior citizens will be exempted from these charges.

Axis Bank ATM charges increased, you will have to pay extra money on every transaction
Axis Bank has also updated its ATM transaction charges. Now only 3 transactions will be free every month in metro cities, while in non-metro cities, up to 5 transactions will be exempted. After this, if you withdraw money from ATM, then you will have to pay ₹ 23 on every financial transaction and ₹ 10 to ₹ 12 on non-financial (like balance check or mini statement) transactions.

Charges will be levied for withdrawing money from Federal Bank ATM after the free limit
If Federal Bank customers withdraw money from another bank’s ATM and their free transaction limit is exhausted, they will now have to pay ₹23 for every financial transaction and ₹12 for non-financial transactions. However, if the transaction is done from Federal Bank’s own ATM, no charges will be levied. Apart from this, if the transaction fails due to insufficient balance in a customer’s account, an insufficient balance charge of ₹25 will be levied on it.

Keep these things in mind while using ATM

Banking services have become expensive from July 1. If you frequently withdraw money from ATM or use banking services more, it would be better to plan the transaction and keep in mind the free limit. Apart from this, NEFT and RTGS through online channels are free, so adopting digital methods will be beneficial. In such a situation, keep in mind the transaction limit and new charges while using ATM, otherwise it will affect your pocket. Get complete information from your bank’s website or branch in time.

Most Read Articles:-

• New rule for SIM card, fake numbers will be blocked through AI, DoT has made big preparations
• Delhi govt withdraws fuel ban on old vehicles, no more seizures at petrol pumps
• Job Cut Alert: Microsoft cuts 9,000 jobs in latest round of layoffs amid restructuring push
• Bank of Baroda FD: Deposit ₹ 2,00,000 in Bank of Baroda and get fixed interest of ₹ 47,015 with guarantee – know details
• Finance Ministry announced the interest rate for GPF July to September quarter; check details

The post Banking rules changed from July 1, from ICICI to HDFC and Axis Bank increased the charges first appeared on Rightsofemployees.com.

Due to this, bank customers will now get less interest than before, especially those account holders who have a large amount in their bank account. Customers will have to plan their investment or savings by taking information about the interest rates of their bank.

SBI reduced interest rates on savings accounts

The country’s largest bank, State Bank of India (SBI), has made the interest rate on all savings accounts uniformly 2.5% per annum from June 15, 2025. Earlier, SBI used to pay 2.7% interest on small accounts (less than Rs 10 crore) and 3% on large accounts (Rs 10 crore or more). Now the same rate will be applicable on every account.

HDFC Bank also reduced the rate

HDFC Bank has reduced the interest rate on all savings accounts to 2.75% per annum from June 10, 2025. Earlier, 2.75% interest was available on amounts less than ₹ 50 lakh and 3.25% interest was available on ₹ 50 lakh or more. Now all accounts will get the same interest.

Also Read: Delhi airport runway closed for 3 months, more than 100 flights will be cancelled

ICICI Bank also took the same step

ICICI Bank has also changed the interest rates of its savings account from 12 June 2025. Earlier, 3.25% interest was available on more than ₹ 50 lakh and 2.75% interest was available on less than ₹ 50 lakh. Now interest will be given at the same rate of 2.75% per annum on every amount.

New interest rates of other banks

Bank Of Baroda

Bank of Baroda is now offering interest on savings account from 2.7% to 4.25% depending on the amount deposited. These rates are applicable from 12 June 2025.

Federal Bank

Federal Bank is now offering interest rates on savings accounts ranging from 2.5% to 6.25%, depending on the amount deposited by the customer. These new rates have come into effect from June 17, 2025.

IndusInd Bank

IndusInd Bank is now offering 3% to 5% interest on accounts, which will be decided according to the balance slab. This change is effective from June 16, 2025.

RBL Bank

RBL Bank has also revised the interest rates from June 16, 2025. Now the account will get interest ranging from 3% to 6.75%, which will be decided on the basis of the amount deposited in the customer’s account.

What will be the impact?

The decisions of these banks will especially affect those customers who keep a large amount in their savings account. Now they will get less interest than before. This change has happened due to the reduction in repo rate, which is aimed at controlling inflation and increasing liquidity in the economy.

Related Articles:-

No need to get Aadhaar card photocopied repeatedly

Ola-Uber-Rapido rides will be cheaper, government may take a big decision

New rules for Tatkal ticket booking will be implemented from July 1, know what changes

The post Interest Rate Cut: SBI, HDFC and ICICI Banks reduced interest on Savings Account, check latest interest rate first appeared on Rightsofemployees.com.

State Bank of India (SBI): The country’s largest bank is giving interest at the rate of 6.70% to common citizens for a period of 2 years to 3 years. At the same time, senior citizens are being provided interest at the rate of 7.20 percent for this period.

HDFC Bank: This largest private sector bank is still giving great interest for a period of 15 to 18 months. The bank is providing interest at the rate of 6.85% to common citizens for this period. At the same time, the interest rate for senior citizens is 7.35%.

ICICI Bank: This private sector bank is providing the highest interest for a period of 18 months to 2 years. The bank is providing interest at the rate of 6.85% to common citizens for this period. At the same time, senior citizens are being provided interest at the rate of 7.35% for this period.

Bank of Baroda: Government bank Bank of Baroda is providing better returns on 1 year FD. The bank is giving interest at the rate of 6.70% to common citizens on 1 year FD. At the same time, for this period, senior citizens and super senior citizens are being provided interest at the rate of 7.20% and 7.20% respectively.

PNB: Punjab National Bank is still giving great returns on 1 year FD. The bank is giving interest at the rate of 6.70% to common citizens on 1 year FD. At the same time, senior citizens and super senior citizens are being provided interest at the rate of 7.20% and 7.50% respectively.

The post Highest FD rates: These 5 banks are paying the highest interest on FD, the list includes SBI, HDFC, ICICI Bank first appeared on Rightsofemployees.com.

Under this, changes have been made in the free transaction limit and the charge levied on additional transactions. Its purpose is to provide better operational facilities to ATM networks.

What will be the free transaction limit?

RBI has clarified that even now 3 free transactions will be available every month in metro cities and 5 free transactions will be available in non-metro cities. This limit will apply to both financial transactions such as cash withdrawal and non-financial transactions such as balance check, mini statement, PIN change etc.

How much will be the charge after the free limit?

If you transact more than the free limit, then now you will have to pay Rs 23 (plus tax) for every additional transaction. This rule will be applicable on all ATMs.

What are the banks saying?

HDFC Bank has said that from May 1, cash withdrawals from its ATMs will be charged Rs 23 + tax for transactions beyond the free limit. However, non-financial transactions like balance check, mini statement and PIN change will remain free.

PNB has said that after the free limit at ATMs of other banks, a charge of Rs 23 will be levied on financial transactions and Rs 11 (GST extra) on non-financial transactions. This change will come into effect from May 9, 2025.

IndusInd Bank has also informed that its savings, salary, NR and current account holders will have to pay Rs 23 per transaction for withdrawals from non-IndusInd ATMs after the free limit from May 1, 2025.

Advice for customers

Customers have been advised to keep an eye on their ATM transactions, especially when using another bank’s ATM. To avoid high charges, try to use your own bank’s ATM as much as possible or resort to digital payments.

Related Articles:-

Govt employees…Old website of CGHS has been closed, now online services will be available here

Bullet Train: When will India’s first bullet train run, CM told the date

RBI’s big decision on ₹100…₹200 notes, gave these instructions to banks

The post New ATM Rules: HDFC, PNB And IndusInd Bank Notify New Charges, Check Here first appeared on Rightsofemployees.com.

Many new banking rules are being implemented by the Reserve Bank of India from April 1, 2025. So that the banking system can be made more strong, secure, easy for customers, and transparent. These new rules will affect the account holders of many public sector banks like SBI, PNB, Canara, HDFC.

Know what changes are happening in the top 5 rules related to SBI, PNB, Canara and other banks

1. Minimum balance requirements

• Minimum balance policies are being updated in other banks like SBI, Canara Bank, PNB Bank.
• From April 1, a higher minimum balance will have to be maintained in the savings account than before.
• The minimum balance required in the account may vary depending on the type of account and geographical location like urban, semi-urban or rural.
• If customers succeed in doing so, they may face penalties.

2. ATM withdrawal charges will be revised

• ATM transaction policies are also going to change from April 1.
• Higher fees may be levied for exceeding the prescribed number of free transactions.
• The number of free transactions will be reduced when using ATMs of other banks.
• Withdrawals beyond the number of free transactions will attract higher charges.
• Currently, many banks provide the benefit of free ATM withdrawals three to five times a month at their ATMs.
• Apart from this, withdrawal from ATMs of other banks can be done three times in a month. If this is done more than this, an additional charge of 20 to 25 rupees may be levied.

3. Changes in interest rates

• Public sector banks have revised the interest rates on savings accounts and fixed deposits.
• Interest rates on savings accounts will now be charged at different percentages depending on the account balance.
• To attract more long term investments, interest rates on fixed deposits have also been changed.

4. Expansion of digital banking facilities

• To bring about digital revolution, banks are upgrading the online and mobile banking services being provided to the customers.
• Many banks are using AI chatbots to answer customer queries.
• To make digital transactions more secure, features like biometric authentication and two-factor verification are being strengthened.
• Many new features will be added to online and mobile banking from April 1.

The post Banking New Rules: SBI, PNB, Canara Bank, HDFC, banking new rules, what is changing from April 1 first appeared on Rightsofemployees.com.

In this, a fixed amount is deposited for a fixed period. Let us know what interest rates are being offered on FD in major banks like SBI, PNB, BoB, HDFC, ICICI and Canara Bank and how much maturity amount will be received on an investment of Rs 5 lakh.

SBI (State Bank of India) FD Interest Rates

SBI gives 7.25% interest rate to general citizens on its 444 days Amrit Vrishti FD scheme. At the same time, the interest rate on 1 year, 3 year and 5 year FD is 6.80%, 6.75% and 6.50% respectively.

• Return on investment in 1 year: For an investment of Rs 5 lakh, the maturity amount will be ₹5,34,877.
• Returns in 3 years: Maturity amount ₹6,11,196.
• Returns in 5 years: Maturity amount ₹6,90,210.

PNB (Punjab National Bank) FD Interest Rates

PNB offers 7.25% interest on its 400 days FD scheme. Interest rates on 1 year, 3 year, and 5 year FDs are 6.80%, 7%, and 6.50%, respectively.

• Return on Investment in 1 Year: Maturity Amount ₹5,34,877.
• Returns in 3 years: Maturity amount ₹6,15,720.
• Returns in 5 years: Maturity amount ₹6,90,210.

Canara Bank FD Interest Rates

Canara Bank offers 7.25% interest on FDs of 444 days. Interest rates on 1 year, 3 year, and 5 year FDs are 6.85%, 6.80%, and 6.70%, respectively.

• Return on Investment in 1 Year: Maturity Amount ₹5,35,140.
• Returns in 3 years: Maturity amount ₹6,12,099.
• Returns in 5 years: Maturity amount ₹6,97,033.

BoB (Bank of Baroda) FD Interest Rates

BoB offers 7.30% interest on 400 days FD scheme. Interest rates on 1 year, 3 year, and 5 year FDs are 6.85%, 7.15%, and 6.80%, respectively.

• Return on Investment in 1 Year: Maturity Amount ₹5,35,140.
• Returns in 3 years: Maturity amount ₹6,18,448.
• Returns in 5 years: Maturity amount ₹7,00,469.

HDFC Bank FD Interest Rates

HDFC Bank offers 7.40% interest on 4 years 7 months (55 months) FDs. Interest rates on 1 year, 3 year, and 5 year FDs are 6.60%, 7%, and 7%, respectively.

• Return on Investment in 1 Year: Maturity Amount ₹5,33,826.
• Returns in 3 years: Maturity amount ₹6,15,720.
• Returns in 5 years: Maturity amount ₹7,07,389.

ICICI Bank FD Interest Rates

ICICI Bank offers 7.25% interest on FDs of 15 months to 2 years. Interest rates on 1 year, 3 year, and 5 year FDs are 6.70%, 7%, and 7%, respectively.

• Return on Investment in 1 Year: Maturity Amount ₹5,34,351.
• Returns in 3 years: Maturity amount ₹6,15,720.
• Returns in 5 years: Maturity amount ₹7,07,389.

Bank FD is a safe and fixed income source for investors who want to grow their money without any risk. Compare interest rates before investing and choose a bank as per your need. This investment can prove to be more beneficial for senior citizens as they get additional interest.

Related Articles:-

PMAY 2.0: You can Get your Own Permanent Home, Know How to Apply for PM Awas Yojana…

PPF Account Has been Closed, will I have to Pay Money to Get it Reactivated?

How to use ChatGPT on WhatsApp: A simple guide

The post Fixed Deposit: You will get THIS Much Interest on Investing 5 Lakhs in SBI, PNB, HDFC, BOB – Check the interest rate first appeared on Rightsofemployees.com.

Some services of HDFC Bank will not be available on 14 and 15 December. Apart from this, ICICI Bank will do pre-scheduled maintenance work in the bank from 11:55 pm on 14 December 2024 to 6:00 am on 15 December 2024. During this time, different services of both the banks will be affected. Net banking, RTGS i.e. Real Time Gross Settlement Service of banks will not be available for some time.

These services of HDFC Bank will not be available

HDFC Bank told its customers that for better banking experience, some services will be temporarily unavailable during maintenance. Bank services will not be available during these two days.

Date: December 14, 2024

Time: 1 AM to 1:30 PM (30 mins)

This service will not be available: Credit card transactions.

Date: December 14, 2024

Timings: 2:30 am to 5:30 am (3 hours)

This service will not be available

• Net Banking and Mobile Banking App.
• Account Related Information.
• Deposits and Fund Transfer (UPI, IMPS, NEFT and RTGS).
• Merchant Transfer.
• Instant account opening.

Date: December 14, 2024

Timings: 5 AM to 7 PM (2 hours)

This service will not be available : Demat transaction.

Date: 14-15 December 2024

Time: 10 pm on December 14 to 12 noon on December 15 (14 hours)

This service will not be available: Offers tab on Net Banking.

Date: December 15, 2024

Timings: 1 am to 5 am (4 hours)

This service will not be available: Mutual fund transactions.

ICICI Bank service will not be available

ICICI Bank informed its customers through email that RTGS transactions will be temporarily unavailable on its banking platform.

Date: December 14, 2024

Time: 11:55 pm to 6 am on December 15.

These services will not be available: Inward and outward RTGS transactions, which will be pending during maintenance and will be processed after 6 am.

Optional Service : Customers can use NEFT, IMPS, or UPI services through iMobile or Internet Banking during this period.

What is RTGS?

RTGS is an electronic funds transfer method that provides real-time and instant settlement of large payments between bank accounts.

What are the RTGS charges of the bank

There will be no charges on RTGS transactions done online through Internet Banking, iMobile Pay, Pockets App.

₹20 + GST ​​will be charged for RTGS transactions from ₹2 lakh to ₹5 lakh from bank branch.

A charge of ₹45 + GST ​​will be applicable on transactions between ₹5 lakh and ₹10 lakh. Customers are advised to complete their required RTGS transactions before this deadline.

Related Articles:-

SIP Cancellation New Rule: SEBI has reduced the time limit for cancelling SIP from 10 days to just two days

Weather Update: IMD warns of cold wave till December 15, 2024, weekend will be fun

Mahila Samman Scheme: These women will not get the benefit of Rs 1000 per month scheme, know the govt’s conditions…

The post Bank Customers ALERT! These 2 banks will not provide this service for 2 days, check details first appeared on Rightsofemployees.com.

What can be kept in a bank locker?

• Jewellery and precious metals:
• Jewellery made of gold, silver, diamonds and other precious metals.
• Gold and silver coins or bullion (bricks).

Legal documents:

• Will, property papers, adoption related documents.
• Power of Attorney and other important documents.

Financial documents:

• Documents related to mutual funds, share certificates, tax receipts and insurance policies.

What cannot be kept in a bank locker?

Illegal items:

Weapons, explosives, drugs or other illegal items.

Perishable items:

Food and drinks that can spoil or rot over time.

Harmful Ingredients:

Any radioactive, corrosive or dangerous goods.

Cash amount:

Most of the banks do not consider cash as safe and insured, hence keeping it in the locker is not allowed.

Things to keep in mind while using a bank locker

• You are responsible for the things kept in the bank locker.
• Choose a locker as per your requirement with the correct information.
• Always follow the bank’s guidelines while using the locker.
• Make a list of every item and keep the important documents safely.
• By using the bank locker properly, you can keep your valuables safe and avoid unnecessary expenses.

The post Bank lockers Rules: SBI, HDFC, BOB and ICICI Bank customers cannot keep these items in their bank lockers, check the complete list first appeared on Rightsofemployees.com.

keep this in mind

Banks offer bank locker facilities to different categories of customers such as individual customers, partnership firms, limited companies, clubs, etc. However, banks do not allot lockers in the name of minors. Banks act as a kind of lessor to their customers, providing locker services on an annual rent basis.

From the security point of view, banks assure that the protection of the valuables of the customers is much safer than their fees. Please note that if you keep cash in the bank, it is not their responsibility to keep it safe. So keep this in mind while keeping the goods.

The post Bank locker rules: Big news! Bank locker rules have changed, now you will have to pay this much money in top banks first appeared on Rightsofemployees.com.

According to the SBI website, ‘A cash deposit machine, also known as Automated Deposit cum Withdrawal Machine (ADWM), is an ATM-like machine that allows you to deposit cash directly into your account using an ATM cum Debit Card. You can use this machine to deposit money instantly into your account without visiting the branch. The transaction receipt also tells you the updated balance of your account.’

Cash deposit limits vary depending on the bank and whether the Permanent Account Number (PAN) is registered or not. Here is a look at the cash deposit limits of major banks. So let’s know.

Cash deposit limit at SBI ATM The per transaction limit is Rs 49,900/- for cardless deposit and Rs 2.00 lakh through debit card (subject to PAN number being credited in the account). You can also deposit cash in your PPF, RD and loan accounts. Up to 200 currency notes can be deposited in a single transaction. ADWM accepts only denominations of Rs 100, Rs 200, Rs 500 and Rs 2000.

Bank of Baroda cash deposit limit in ATM

Cash deposit with debit card up to Rs.2,00,000/- (2 Lacs) per day where PAN is registered and Rs.49,999/- where PAN is not registered in account. Card less transaction (by feeding account number) up to Rs. 20,000/- per day.

Cash Deposit Limit in Union Bank of India ATMs

According to Union Bank website, ‘The cash recycler machine is capable of accepting and dispensing multiple notes simultaneously. CRMs accept a maximum of 200 currency notes of Rs 50, 100, 500 and 2000 per transaction and the maximum value is Rs 49999. Additional amount up to Rs 100000/- per transaction can be deposited on PAN card verification. CRMs confiscate any counterfeit currency and such notes are not returned to the depositor. Cash deposit and withdrawal is permitted by CRMs to NFS member bank cardholders. Cash withdrawal facility in CRMs is similar to ATMs.

Cash Deposit Limit in PNB ATM

PNB Cash Acceptor cum ATM or Bulk Note Acceptor is a highly efficient multi-function kiosk, the purpose of which is to accept cash for deposit in the account (for PNB only) as well as dispensing cash and performing all other ATM functions. Denominations of ₹ 500, ₹ 200 and ₹ 100 are accepted. The maximum amount per transaction that can be deposited by a customer through this CAA/BNA is Rs 1,00,000/- or a total of 200 notes. The deposit can be Rs 1,00,000/- if the customer has a PAN number registered in the account or Rs 49,900/- if the account does not have a PAN number registered in the account.

HDFC Bank cash deposit limit in ATM

The per transaction limit is Rs. 25,000 for savings account and for Card Based Deposit is Rs. 1 lakh. The per day limit is Rs 2 lakh. Cash deposit machines are configured to accept Rs. 100 (new & old), Rs. 200, Rs. 500 and Rs. 2000. Maximum counts of notes which can be deposited into the CDM per transaction are 200. HDFC Bank cash deposit machines are available only for deposit into HDFC Bank Accounts.

Related Articles:-

Public Holiday announced: All schools, colleges and offices will remain closed from 10 to 14 October

SSY Interest Rate: Interest on Sukanya Samriddhi did not increase, but the government made 6 big changes; the first one is…

DA Hike: 3% or 4%, how much will dearness allowance increase, it will be revealed today

The post ATM Cash Deposit Limit: Daily cash deposit limit at ATMs – SBI, PNB, HDFC, Union Bank and Bank of Baroda first appeared on Rightsofemployees.com.

These changes have been made on FDs of different periods. Public and private sector banks like SBI, HDFC Bank, ICICI Bank and Punjab National Bank (PNB) are offering many new FD schemes.

State Bank of India (SBI):

State Bank of India (SBI) has launched a new special FD scheme called ‘Amrit Vrishti’. Under this scheme, general customers can avail 7.25% interest rate for a period of 444 days, while for senior citizens the rate is 7.75%. This scheme is available for investment from 15 July 2024 to 31 March 2025. SBI FD rates on other periods including 7 days to 10 year FDs range from 3.50% to 7.00%.

Also Read: Weather Forecast: IMD has issued an alert regarding heavy rain in these districts for the next two days

HDFC bank:

HDFC Bank is offering interest rates ranging from 3% to 7.4% for FDs of 7 days to 10 years. The maximum interest rate for general customers is 7.4%, while senior citizens are offering an interest rate of 7.90% for FDs of 4 years 7 months to 55 months. These revised rates are applicable from July 24, 2024.

ICICI Bank:

ICICI Bank is offering FD rates ranging from 3% to 7.20% for FDs of 7 days to 10 years. These rates are applicable from July 30, 2024.

Punjab National Bank (PNB):

Punjab National Bank (PNB) is offering a maximum interest rate of 7.25% for 400 days FD from August 1, 2024. For 300 days FD, the rate is 7.05%. For one and two year term FDs, the interest rate is 6.80%. For three-year FDs, the interest rate is 7.00% and for four and five-year FDs, the interest rate is 6.50%.

The post Golden opportunity for investors, SBI, HDFC, ICICI and PNB raised interest rates first appeared on Rightsofemployees.com.

Whenever you make a transaction through UPI, your bank informs you by sending an SMS alert. Whether you make a payment of Rs 1,000 or Rs 1, you get to know through SMS that money has been withdrawn from your account. But now it is not necessary that the bank sends you an alert on every transaction.

In fact, the leading private sector bank HDFC has decided to stop SMS alerts on transactions of small amounts. This decision of the bank will come into effect from June 25. The bank has recently informed its customers about this. According to the information sent by HDFC Bank to its customers, SMS related to transactions of lesser value will not be sent from June 25. However, the alert limit is different for both receiving and sending money.

Also Read: Driving License: Step by step guide for making and renewing Driving License

According to the information given by the bank to its customers, SMS alert will no longer be received for spending less than Rs 100 through UPI. Apart from this, alert will also not be received for credit up to Rs 500. However, e-mail alert will be received for every transaction. In such a situation, the bank has asked all the customers to update their mail ID so that they can get alert of every transaction on mail.

The use of UPI has increased for small transactions.

For the last few years, the average value of transactions through UPI has been gradually decreasing. It has decreased by 8 percent from Rs 1,648 in the second half of 2022 to Rs 1,515 in the second half of 2023. From this, we can guess that the use of UPI is increasing for small transactions.

According to the report of Worldline India, the three major UPI apps in the country are PhonePe, GooglePay and Paytm, in terms of volume and value of transactions. According to the data of National Payments Corporation of India (NPCI), transactions through UPI crossed the figure of 10 thousand crores in the calendar year 2023 and reached around 11.8 thousand crores.

The post HDFC to stop SMS alerts for UPI transactions up to Rs 100 first appeared on Rightsofemployees.com.

This is why it is also called Safe Deposit Locker. However, this locker is not available for free. For this, you have to pay many charges (Bank Locker Charges) including locker rent to the bank every year. Let us know what are the locker charges in 5 banks.

SBI Locker Charge

In Canara Bank, you will have to pay Rs 400 along with GST just for registration. The locker rent can range from Rs 1000 to Rs 10,000. This charge depends on the area in which you are availing the locker facility and also how big or small the locker is.

ICICI Bank Locker Charge

ICICI Bank also has different types of locker charges depending on the area and size of the locker. These charges range from Rs 1200 to Rs 22,000.

Axis Bank Locker Charge

Annual Locker rentals:

If you are thinking of taking a locker in Axis Bank, then you may have to pay locker charges ranging from Rs 1500 to around Rs 14,256.

The post Bank Locker Charges: From SBI and HDFC to ICICI Bank, know what are the locker charges in these 5 banks first appeared on Rightsofemployees.com.

All banks in the country offer a certain number of free ATM transactions to their customers every month. If this limit is exceeded within a month, customers will have to pay extra on every ATM transaction, be it financial or non-financial.

As per the latest guidelines of the Reserve Bank of India, banks can charge a maximum of Rs 21 on each withdrawal irrespective of the number of free transactions. Come, let us know which banks give limit for how many transactions in a month and how much charge you will have to pay after that.

How many transactions will be free in a month?

Most banks offer customers 5 free transactions every month. If it is not used, this limit does not carry over to the next month. Come, let us know about the rules of some major banks of the country.

Punjab National Bank ATM

PNB allows 5 free transactions every month at its ATMs in both metro and non-metro areas. After this, customers will have to pay Rs 10 on each transaction. At the same time, at ATMs of other banks, PNB offers three free transactions in metro cities and five free transactions in non-metro cities. After this the bank will charge Rs 21 plus tax for financial transactions. PNB will charge Rs 9 plus taxes for non-financial transactions.

SBI ATM

State Bank of India offers 5 free transactions (including non-financial and financial) at its ATMs for average monthly balance above Rs 25,000. Transactions above this amount are unlimited. There is a charge of Rs 10 along with GST at SBI ATM for financial transactions exceeding the limit. At other bank ATMs, it is Rs 20 plus GST per transaction.

ICICI Bank ATM

ICICI Bank allows its customers 3 free transactions in metro areas and 5 in non-metro areas every month. After that, Rs 8.5 is charged for every non-financial transaction and Rs 21 for every financial transaction at ICICI Bank ATMs.

HDFC Bank ATM

There is a limit of 5 free transactions every month at HDFC Bank ATMs. For non-bank ATMs its limit is 3 transactions in metro areas and 5 transactions in non-metro areas. After exceeding the limit, customers will be charged Rs 21 for each financial transaction and Rs 8.5 for each non-financial transaction.

Gold and silver prices are continuously increasing, metal crosses Rs 73,000 for the first time

The post ATM Cash Withdrawal Charge : SBI, PNB, HDFC and ICICI Bank changed the rules, now customers will have to pay this much charge for withdrawing money from ATM. first appeared on Rightsofemployees.com.

Many customers take bank loan. Many banks have revised interest rates in the months of January and February. If you are also planning to take a loan then first see where you are getting a cheap loan. Both private and government banks are included in this list.
Let us check which bank is giving loan at what rate-

Bank of Baroda

Bank of Baroda (BoB) has amended the MCLR of the bank on 12 February 2024. The MCLR rate of the bank for overnight period is 8.05 percent. Apart from this, MCLR for one month is 8.30 percent. The MCLR rate for a period of 3 months is 8.40 percent. MCLR rate for a period of 6 months is 8.60 percent. One year MCLR rate is 8.80 percent.

ICICI Bank

According to the website of ICICI Bank, at present the overnight MCLR rate is 8.40%. The MCLR rate for three months and six months in ICICI Bank is 8.45 percent and 8.60 percent respectively. The one year MCLR rate has been revised to 8.65 percent.

Punjab National Bank

According to the website of PNB, the MCLR rates of the bank for overnight period have increased from 7.90 percent to 7.90 percent. One month MCLR rate has increased from 7.90 percent to 8 percent.

Yes Bank

According to the website of Yes Bank, MCLR rates have increased. The new rates are effective from January 1, 2024. The overnight period rate is 9.2%. MCLR rate for one month is 9.45%. MCLR rate for three months is 10%. The six month rate is 10.25% and the one year rate is 10.50%.

Bank of India

According to the website of Bank of India, the bank has increased the MCLR rates for overnight period and one month period. The bank has increased the rate by 10 bps and it is effective from February 1, 2024. The three month rate is 8.40%. At the same time, the six month rate is 8.60% and the one year rate is 8.80%.

HDFC Bank

HDFC Bank has increased the loan interest rates. The bank has increased the MCLR rates. The new rates of the bank have come into effect from 8th February. The bank has increased the rates of some selected tenure loans by 10 bps. The MCLR of the bank has come between 8.90 percent to 9.35 percent. The bank has increased the overnight MCLR rate by 10 basis points, after which its rate has increased from 8.80 percent to 8.90 percent.

The post Bank Loan Interest Rates : Important update for HDFC, PNB and ICICI Bank customers, loan rates changed first appeared on Rightsofemployees.com.

Tax Saving FD Interest: If you also come under the income tax slab, then this news is useful for you. Under the old tax regime, you can reduce taxable income by showing investments in different sections of income tax. Up to Rs 1.5 lakh can be invested under Section 80C. There are two months left for the completion of the financial year. If you do not invest keeping tax planning in mind at this time, you may have to pay more income tax.

There will be tax saving by investing here also

Most of the employers have asked their employees to submit investment proof. In such a situation, you can also save tax through PPF, NPS, Sukanya Samriddhi Yojana (SSY), ELSS, PF or insurance premium by keeping in mind the investment options. To avoid any kind of risk, investors can also invest in tax saving FD. The interest rate available on this is lower than other FDs. Let us know about banks and their interest rates-

Interest rate up to 7 percent in these banks

Axis Bank, HDFC Bank and ICICI Bank are offering interest rates up to 7 percent on tax saving FDs. These banks offer the best interest rates among private banks. If you invest Rs 1.5 lakh here, it will increase to Rs 2.12 lakh in five years. Canara Bank is offering interest up to 6.7% on tax saving FD. This bank is giving the best interest among public sector banks. If you invest Rs 1.5 lakh here, it will increase to Rs 2.09 lakh in five years.

There will be tax saving by investing here also

Most of the employers have asked their employees to submit investment proof. In such a situation, you can also save tax through PPF, NPS, Sukanya Samriddhi Yojana (SSY), ELSS, PF or insurance premium by keeping in mind the investment options. To avoid any kind of risk, investors can also invest in tax saving FD. The interest rate available on this is lower than other FDs. Let us know about banks and their interest rates-

Interest rate up to 7 percent in these banks

Axis Bank, HDFC Bank and ICICI Bank are offering interest rates up to 7 percent on tax saving FDs. These banks offer the best interest rates among private banks. If you invest Rs 1.5 lakh here, it will increase to Rs 2.12 lakh in five years. Canara Bank is offering interest up to 6.7% on tax saving FD. This bank is giving the best interest among public sector banks. If you invest Rs 1.5 lakh here, it will increase to Rs 2.09 lakh in five years.

SBI is giving 6.5 percent interest

The largest public sector banks SBI and Bank of Baroda are offering interest up to 6.5 percent on tax saving FDs. Banks offering interest at this rate also include Punjab National Bank and Union Bank of India. By investing Rs 1.5 lakh here, you will get an amount of Rs 2.07 lakh on maturity in five years. Indian Bank is offering 6.25 percent interest on tax saving FD. Here an investment of Rs 1.5 lakh will increase to Rs 2.05 lakh in five years.

Bank of India is giving interest at the rate of 6 percent on tax saving FD. If you invest Rs 1.5 lakh here, this money will increase to Rs 2.02 lakh in five years. Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of RBI, gives investment guarantee on FDs up to Rs 5 lakh.

The post FD Interest Rate : From SBI to HDFC, these banks are offering the highest interest on tax saving FDs. first appeared on Rightsofemployees.com.

HDFC Bank has once again extended the deadline for ‘Senior Citizen Care FD’, a special FD that gives higher interest to senior citizens. Let us tell you, this FD is especially for senior citizens only. In this, additional interest of 0.25 percent is given.

You can invest till this period

According to the information given by the bank, the deadline for Senior Citizen Care FD has been extended to January 10, 2024. This means that now investors can avail the benefits of FD till the first week of January.

Interest rate in Senior Citizen Care FD

In Senior Citizen Care FD, senior citizens are being given a separate interest rate of 0.25 percent in addition to the additional interest rate of 0.50 percent compared to the normal interest rates. In this way, the investor who makes this FD will be given additional interest of 0.75 percent by the bank.

Let us tell you, under Senior Citizen Care FD, the bank is giving 7.75 percent interest to the investors. This maturity period is more than 5 years.

FD interest rates in HDFC Bank

• 7 days to 29 days -3.00 percent
• 30 days to 45 days – 3.50 percent
• 46 days to 6 months – 4.50 percent
• 6 months one day to 9 months – 5.75 percent
• 9 months to less than one year – 6.00 per cent
• One year to less than 15 months – 6.60 percent
• 15 months to less than 18 months – 7.10 percent
• 18 months to 2 years Less than 11 months -7.00 percent
• 2 years 11 months to 35 months – 7.15 percent
• 2 years 11 months a day – 3 years – 7.00 percent
• 3 years one day to -5 years -7.00 percent
• 5 years one day to 10 years -7.00%

The post HDFC Bank has once again extended the deadline for ‘Senior Citizen Care FD, will get higher interest first appeared on Rightsofemployees.com.

According to the information given on the website of ICICI Bank, the interest on FD of Rs 2 crore to Rs 5 crore for a period of 7 to 14 days is 4.75 percent. The interest on FD of 30 days to 45 days is 5.5 percent and the interest on FD of 46 days to 60 days is 5.75 percent. Apart from this, interest on FD of 61 days to 90 days has been fixed at 6 percent, interest on FD of 91 days to 120 days has been fixed at 6.5 percent.

6.5 percent interest is being given on FDs of 121 days to 150 days, 6.75 percent interest is being given on FDs of 271 days to 289 days. The bank is offering 7.25 percent interest on FDs of one year to 389 days.

HDFC Bank also changed FD interest rate

HDFC Bank has also changed the interest rates on FDs of Rs 5 crore or more. The bank is now offering interest ranging from 4.75 percent to 7.00 percent on FDs of more than Rs 5 crore.

Let us tell you, recently the Federal Bank has changed the interest rates of some selected tenure FDs of less than Rs 2 crore. Now the bank is offering 7.50 percent interest rate to common citizens on FD of 500 days and 7.05 percent interest rate on FD of 21 months to less than 3 years. At the same time, banks are giving additional interest of 0.50 percent to senior citizens on FDs of both the tenures.

The post Bank FD rates: ICICI, HDFC revise interest rates on these fixed deposits first appeared on Rightsofemployees.com.

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

HDFC Bank replacement or re-issue of debit card costs Rs 200 plus GST.

ICICI Bank

ICICI Bank charges Rs 200 plus GST for debit card. GST is 18 percent.

Yes Bank

Yes Bank charges Rs 199 and GSAT.

Canara Bank

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.

The post Debit Card Holders! Debit Card Replacement Know Fee Of HDFC, SBI And PNB To Replace Your Debit Card first appeared on Rightsofemployees.com.

State Bank Of India

SBI is offering 6.80% interest rate on FDs from 1 year to 2 years. Whereas, the FD rate under AMRIT KALASH is being offered at 7.10% for a period of 400 days.

HDFC bank

HDFC Bank is offering 6.60% interest rate on FDs of 1 year to less than 15 months. At the same time, it is offering 7.10% interest rate for FDs of less than 15 months to 18 months. The bank is offering the highest rate of 7.25% on FDs from 4 years 7 months to 55 months. This is a Limited Edition Bank FD.

ICICI Bank

ICICI Bank (ICICI Bank) is offering 6.70% interest rate for FDs of less than 1 year to 15 months for general citizens. The bank is offering the highest interest rate of 7.10% for FDs with tenures ranging from 15 months to less than 2 years. These rates are applicable from February 24, 2023.

Canara Bank

Canara Bank is offering the highest interest rate of 7.25% on FDs with a tenure of 444 days for general citizens. These rates are applicable from April 5, 2023.

Yes bank

Yes Bank is offering 7.50% interest rate on FDs of 1 year to less than 18 months. These rates are effective from May 2, 2023.

The post Highest FD interest rate: SBI, HDFC, ICICI , Yes Bank, Canara Bank are offering higher interest rates on FDs, invest money today first appeared on Rightsofemployees.com.

The investment tenure of FDs varies between banks and can be anywhere between seven days to ten years. Investment returns are compounded on a regular basis, monthly, quarterly or annually. If you want to invest in these FDs before the scheme ends, here is a comparison of 1-2 year FD interest rates of banks like HDFC Bank, ICICI Bank, SBI and SBI Amrit Kalash.

State Bank Of India

SBI is providing 6.80% interest rate on FDs from 1 year to 2 years. While the FD rate under Amrit Kalash is 7.10% for a tenure of 400 days which is 13 months 4 days.

HDFC bank

HDFC Bank is offering 6.60% on FDs for 1 year to less than 15 months and 7.10% for 15 months to less than 18 months. These rates are applicable from May 29, 2023. High interest rate of 7.25% is offered for 4 years 7 months to 55 months is the limited edition bank FD.

ICICI Bank

ICICI Bank offers 6.70% for general citizens for tenure less than 1 year to 15 months. The bank offers the highest interest rate of 7.10% for tenors ranging from 15 months to less than 2 years. The rates are applicable from February 24, 2023.

Canara Bank

Canara Bank offers the highest interest rate of 7.25% for general citizens with a tenure of 444 days. These rates are applicable from April 5, 2023.

Yes bank

Yes Bank offers 7.50% interest rate on FDs of 1 year to less than 18 months. These rates are effective from May 2, 2023.

Take special care of these things

Please tell that these interest rates are applicable for the amount less than Rs 2 crore. These rates are applicable only for general citizens, senior citizens get 0.5% higher returns than other customers, and partial and early withdrawals are subject to penalty and vary with banks.

The post SBI, HDFC, ICICI are the FD rates of these 3 big banks of the country, check the list before investing first appeared on Rightsofemployees.com.

Yes, an order has been given by Union Finance Minister Nirmala Sitharaman to simplify the banking system. It was said on behalf of the Finance Minister that banks should make banking operations simple according to the needs of the customers.

With this, more and more customers will be able to connect with them. The Finance Minister suggested in the meeting The Union Finance Minister said last days that banks should pay attention to the facilities of the customers. This will make the process easier for the borrowers.

On behalf of the Finance Minister, it was also told to the banks that the standards of giving loans should be correct. This suggestion was made a few days ago in a meeting between industry representatives and the Finance Minister.

During this, Nirmala Sitharaman asked all the big banks to implement it. Following this suggestion given by the Finance Minister will benefit the customers of all banks including ICICI Bank, SBI and HDFC Bank. The Finance Minister also said that there is a need to make the banking system more and more customer friendly. You have to take care of the facilities of the customers.

The post Big news for the customers of SBI-HDFC-ICICI Bank, Finance Minister issued a statement first appeared on Rightsofemployees.com.

This merger is expected to be completed by the month of June. HDFC customers, whether borrowers or depositors, may see changes in FD interest rates after this merger. Let us find out how the FD interest rates will change for these customers after the merger.

Difference in interest rates

FD interest rates in HDFC Bank have always been lower than the interest rates offered by housing finance company HDFC. If you invest in HDFC FDs of less than Rs 2 crore for a tenure of 66 months, you will get an annual interest of 7.45 per cent till May 8, 2023. HDFC Bank is offering an interest rate of 7 percent for the same tenure. But after the merger, there will be a change in FD interest rates.

The interest rates for FD in Housing Finance Company range from 6.95 percent to 8 percent. The tenure of retail FD in HDFC ranges from 22 months to 120 months. Retail FD interest rates in HDFC Bank range from 3 percent to 7.5 percent, while you can choose any tenor of your choice.

What is special for senior citizens

For senior citizens, the housing finance company offers an additional interest rate of 0.25 per cent on deposits up to Rs 2 lakh. However, HDFC Bank offers an additional interest rate of 0.50 percent on FDs on behalf of senior citizens. As you can see, there is a difference in the interest rates offered by HDFC and HDFC Bank.

The post HDFC merger: New Update: How FD interest rates will change after merger of HDFC with HDFC Bank, how much will you benefit? first appeared on Rightsofemployees.com.

The limit of all banks is different-

Let us tell you that this limit is different for the customers of all the banks. All bank customers including SBI, ICICI Bank and HDFC get different limits, through which you can transact money.

Let’s check which bank’s UPI Limit –

If you are an SBI customer, you can do a transaction of Rs 1 lakh through UPI in a day.
HDFC Bank customers can also do transactions up to Rs 1 lakh, but for new customers this limit is only Rs 5000.
ICICI Bank customers can do UPI transactions up to Rs 10,000, but for Google Pay users this limit is Rs 25,000.
Bank of Baroda customers can do transactions up to Rs 25,000.
Apart from this, Axis Bank customers can do transactions up to Rs 1 lakh.

RBI is making this plan-

Let us tell you that now RBI is making a new plan regarding UPI payment. The National Payments Corporation of India (NPCI) is preparing to limit the volume cap of the country’s Third Party App Providers (TPAP) to 30 percent. Talks are going on with the Reserve Bank of India in this regard.

Only after the approval of RBI, companies like Phone Pay, Google Pay and Paytm will be able to fix its limit, due to which customers may have to face problems in the beginning. However, how much limit will be imposed on this is not yet decided.

The post UPI Payment New Limit: New Update..! SBI, HDFC, BoB and ICICI bank customers transfer only this much money, check limit immediately first appeared on Rightsofemployees.com.

However, the minimum balance in the accounts varies with the banks. There are some conditions related to the minimum balance in the bank accounts of metro cities, cities and rural areas. Failure to comply with these conditions may result in deduction of charges by the Bank. Apart from this, the charges related to ATM withdrawal are also deducted by the banks.

State Bank of India (SBI), the country’s largest PCAU bank, had in March 2020 done away with the requirement of keeping a minimum amount every month on its savings accounts. Earlier, SBI account holders were required to maintain a monthly average balance of Rs 3000, Rs 2000 and Rs 1000 depending on the location in their accounts.

At the same time, it is mandatory for savings account holders in urban and metro cities to maintain an average monthly balance of Rs 10,000 in leading private sector bank HDFC. Whereas in small towns this amount is Rs 5,000. At the same time, it is mandatory for bank customers in rural areas to maintain an average balance of Rs 2,500 every quarter. Bank imposes penalty for not following this rule.

ICICI Bank’s savings account holders in metro or urban areas will have to maintain a minimum monthly average balance of Rs 10,000, Rs 5,000 in small-towns and Rs 2,000 in rural areas. On customers who fail to maintain the average balance, the bank imposes a shortfall charge of 6 per cent or a penalty of Rs 500, whichever is less.

It is mandatory for the savings bank account holders of Punjab National Bank located in metro and urban areas to maintain a balance of Rs 20,000 on a quarterly basis. Whereas, account holders in small-town and rural areas have to maintain a minimum quarterly average balance of Rs 1000 and Rs 500 respectively.

It is mandatory for Kotak Mahindra Bank savings account holders to maintain a monthly average balance of Rs 10,000 in metro and Rs 5,000 in non-metro areas. However, for failure to maintain the minimum balance, the bank charges a penalty of 6 percent of the shortfall in AMB.

All major banks in the country allow a limited number of free ATM transactions every month. But apart from doing the free transactions, banks levy charges along with applicable taxes. According to a notification issued by the Reserve Bank of India in June last year, banks were allowed to charge Rs 21 per transaction at ATMs over and above the monthly free transaction limit with effect from January 1, 2022.

The post Minimum Balance In Account: Big news…! Now these bank account holders will have to keep this much balance in their account… first appeared on Rightsofemployees.com.

In the last one year, due to the increase in the repo rate by the central bank IBI, there has been a continuous increase in the interest of bank FDs. In the last 11 months, the repo rate has increased from 4 percent to 6.50 percent.

Because of this, the average 5 percent interest received on FD in 2022 has now increased to above the average 7 percent. This is a good opportunity for those investors who want to invest in FD. Let us know how much interest the country’s big banks are paying on bank FDs.

Interest on SBI’s FD

The country’s largest public sector bank State Bank of India (SBI) is offering FDs with tenures ranging from 7 days to 10 years. On this, interest ranging from 3.00 percent to 7.10 percent is being given to general citizens and 3.50 percent to 7.60 percent to senior citizens.

Interest on FD of ICICI Bank

ICICI Bank is giving interest ranging from 3 percent to 7.10 percent to investors on FDs ranging from 7 days to 10 years. Additional interest of 0.50 per cent is given to senior citizens. Due to this, citizens above 60 years of age are getting 3.50 percent to 7.60 percent interest on FD.

Interest on Axis Bank FD

The private sector Axis Bank is also offering attractive interest rates on FDs ranging from 7 days to 10 years. Interest of 3.50 percent to 7.20 percent is being given to general citizens and 3.50 percent to 7.95 percent to senior citizens.

Interest on FD of HDFC Bank

HDFD Bank is offering an interest rate of 3 percent to 7.1 percent on FDs ranging from 7 days to 10 years. At the same time, senior citizens are being given interest ranging from 3.5 percent to 7.6 percent on FDs ranging from 7 days to 5 years.

You may also like

The post SBI vs HDFC vs Axis vs ICICI Bank: Strong interest is being received on bank FD, investing in which is the most beneficial first appeared on Rightsofemployees.com.

The country’s largest bank SBI, including private sector big banks HDFC Bank, Axis Bank and ICICI Bank have announced their new FD interest rates. While the repo rate in the country has increased by 2.5 percent in the last 11 months. Now it is at 6.5 percent. RBI last changed the repo rate in February 2023.

Axis Bank is giving more interest

Interest on Axis Bank’s FD these days ranges from 3.50 percent to 7.20 percent. Whereas for senior citizens, this interest rate ranges from 3.50 percent to 7.95 percent. The bank’s new interest rates are valid from April 21, which are available on FDs ranging from 7 days to 10 years.

ICICI Bank FD Interest Rate

ICICI Bank’s FD interest rates range from 3 percent to 7.10 percent. This includes FDs ranging from 7 days to 10 years. Not only this, the bank also gives 0.50 percent extra interest to senior citizens. In these interest rates valid from February 24, senior citizens get interest ranging from 3.50 percent to 7.60 percent on FDs.

HDFC Bank FD Rates

On getting FD from 7 days to 10 years in HDFC Bank, you will get interest ranging from 3 percent to 7.10 percent. Like ICICI Bank, HDFC Bank is giving 0.50 percent extra interest to senior citizens. The bank’s new FD interest rates are applicable from February 21.

FD interest rate of SBI

State Bank of India is paying 3 to 7.10 percent interest on FDs of 7 days to 10 years. It ranges from 3.50 percent to 7.60 percent for senior citizens. The bank’s FD interest rates have not changed since February 15.

The post FD Interest Rates Changed: From SBI to HDFC, Axis, ICICI all changed FD interest rates, know where you are getting more benefit first appeared on Rightsofemployees.com.

Every bank has different minimum balance limit, which customers have to maintain. If a customer does not maintain the minimum balance according to the account, then the bank charges a penalty from that customer.

State Bank of India has fixed the rule of minimum balance in its accounts according to the region. For rural areas, this limit is Rs 1,000. Semi-urban area customers will have to keep Rs 2,000 in their account. Whereas, in Metro City this limit is 3 thousand rupees.

Minimum balance rules for HDFC Bank account holders

The average minimum balance limit in HDFC Bank also depends on the residency. This limit is Rs 10,000 in cities, Rs 5,000 in semi-urban areas and Rs 2,500 in rural areas.

Minimum balance rules for ICICI Bank account holders

ICICI Bank has fixed the rule of minimum balance in its accounts according to the region. There is a limit of Rs 10,000 for urban areas, Rs 5,000 for semi-urban areas and Rs 2,500 for rural areas.

Board of banks can remove penalty from those who do not keep minimum balance

At present, you have to pay a fine for not maintaining the minimum balance in the bank account. But if everything goes well in the coming time, there will be no need to maintain minimum balance in the bank account.

In fact, Minister of State for Finance Bhagwat Kishanrao Karad had recently said that the Board of Directors of banks can decide to abolish the penalty on accounts that do not maintain minimum balance.

The post Account Minimum Balance: HDFC, ICICI and SBI account holders! Now this much balance will have to be kept in the account, otherwise fine will have to be paid. first appeared on Rightsofemployees.com.

Whereas, some have launched special FD investment schemes for women. On the occasion of International Women’s Day, women can earn huge profits by investing in these FD schemes.

Interest Rates on Indian Bank Fixed Deposit

Indian Bank has launched a new retail FD scheme named IND Super 400 Days. The Special Deposit is open for investment from March 6, 2023 for the sake of investors. In this IND Super 400 Days Special Scheme, 0.05 percent higher interest rate has been offered to women investors. According to Indian Bank, senior citizen women investing on this FD scheme can get 7.65 percent interest rate and super senior citizens can get 7.90 percent interest rate.

Interest rates on Punjab and Sind Bank FD

Punjab and Sind Bank has launched a special FD scheme for women called PSB Griha Lakshmi Fixed Deposit Scheme (PSB GRIH LAKSHMI FIXED DEPOSIT SCHEME). Women can invest in this FD through online mode. On this FD scheme, the bank is giving an interest rate of 6.90 percent to women. For senior citizen women investors, the bank has offered an interest rate of 7.40 per cent.

Interest rates on FDs of SBI, HDFC and ICICI Bank

Most banks do not offer higher interest rates separately for women on investment in FDs. SBI offers the highest 7.10% interest rate on Special Amrit Kalash Deposit FD for its regular investors. The last date for investment in this FD scheme of SBI is 31 March 2023. Similarly, HDFC Bank and ICICI Bank offer an interest rate of up to 7.10 per cent on their fixed deposit schemes.

The post Best FD Rates for Women’s: These banks are giving highest interest rate on FD to women, see list of banks first appeared on Rightsofemployees.com.

SBI FD

The 400-day (Amrit Kalash Tenure Scheme) was introduced by the country’s largest lender State Bank of India (SBI) on February 15, 2023, with an interest rate of 7.60 per cent for senior citizens and 7.10 per cent for the general public. According to SBI, this exclusive offer is still available till March 31, 2023.

HDFC FD

HDFC Bank has launched a special Fixed Deposit “Senior Citizen Care FD” for senior citizens on May 18, 2020. This program ends on March 31, 2023. In addition to the current charge of 0.50%, HDFC Bank promises to charge senior citizen customers who register fixed deposits of less than 5 crores at an additional premium of 0.25% for a period of five years and one day to 10 years. Want to. For HDFC Senior Citizen Care FD, the bank offers an interest rate of 7.75% to senior citizens, which is 75 basis points (bps) higher than the standard rate of 7%.

Indian Bank FD

Public sector lender Indian Bank has launched a unique retail fixed deposit called “Ind Shakti 555 Days” with higher interest rates for both general public and senior citizens on December 19, 2022 which is valid till March 31.

IDBI Bank FD

Private sector lender IDBI Bank launched a special fixed deposit “IDBI Naman Senior Citizen Deposit” for senior citizens on April 20, 2022. The duration of the program ranges from more than one year to ten years, and is available till the end of March 2023.

Punjab and Sind Bank FD

This public sector lender is offering customers four exclusive fixed deposit programs namely PSB Fabulous 300 Days, PSB Fabulous Plus 601 Days, PSB e-Advantage Fixed Deposit and PSB-Utkarsh 222 Days. All these programs of Punjab and Sind Bank will come to an end on March 31, 2023, according to the lender’s official website.

The post Special Fixed Deposit Plan: FD scheme of these 5 big banks going to be closed, have you also invested? first appeared on Rightsofemployees.com.

This special FD scheme Diamond deposits has started from March 1, 2023. Senior citizens can invest up to Rs 2 crore in this scheme. In this, you will get income under monthly, quarterly, half-yearly and annually. If you invest in it online then you will get an extra benefit of .05%.

Many banks have increased interest on FD

In the last 2 weeks, most banks have increased the interest on their FDs. Most banks like State Bank of India (SBI), ICICI Bank and HDFC Bank have increased the interest on FDs. All of them offer attractive rates of interest to their customers. They also offer an additional interest of 0.50% to senior citizens. Senior citizens generally invest a major portion of their savings in FDs. This gives them liquidity as well as a fixed income from interest from time to time. Your principal amount is also safe for emergencies.

Banks made loans expensive

HDFC has also increased its retail prime lending rate by 25 basis points to a minimum of 9.20 per cent. HDFC has increased its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) is benchmarked, by 25 basis points. Earlier this month, the Reserve Bank of India (RBI) raised the benchmark policy rate repo rate by 25 basis points to 6.50 per cent, citing rising inflation. This was the sixth hike in interest rates since May last year, from which it has increased by 2.50 per cent so far. The country’s largest bank State Bank of India (SBI) then increased the MCLR by 10 basis points.

The post HDFC has launched a special scheme for senior citizens, giving 8% interest on this FD first appeared on Rightsofemployees.com.

HDFC said in a statement that it is increasing its prime lending rate by up to 0.25 per cent. With this, its prime retail lending rate has increased to 9.20 percent.

PNB also announced to increase the rate based on MCLR by 0.10 percent. This increase will be applicable on all term loans.

PNB said in the information given to the stock market that the loan rate on vehicle, housing and personal loans of one year period has been revised from 8.4 percent to 8.5 percent.

At the beginning of the month, the Reserve Bank had increased the policy interest rate repo by 0.25 percent. With this, the repo rate has increased to 6.25 percent. Financial institutions have also had to increase their lending rates due to costlier finance from the Reserve Bank.

During this period, the country’s largest bank SBI has increased MCLR by 0.10 percent and private sector Kotak Mahindra Bank by 0.05 percent.

The post HDFC and PNB increased interest rates, customers will have to pay increased EMI first appeared on Rightsofemployees.com.

Small finance banks are paying more interest than big banks. Big lenders like State Bank of India, HDFC, ICICI, Punjab National Bank are giving comparatively less interest on FD. Let us tell that in which bank it will be in your interest to have FD at present.

FD is a risk-free investment in banks. Small finance banks pay more interest on fixed deposits than big banks. Due to the absence of risk of money sinking and getting good returns, many people put money in fixed deposits. Today we are telling you about those 6 banks, which are currently giving the highest interest on FD.

Unity Small Finance Bank is giving the highest interest on FD. The bank is offering 9.00 per cent interest to general customers and 9.50 per cent to senior citizens on FDs maturing in 1001 days.

Jana Small Finance Bank is paying interest at the rate of 8.10 percent to the general public on FDs of 1001 days. The bank is offering 8.80 percent interest to senior citizens.

If you make FD for 1001 days in Suryoday Small Finance Bank, then you will get interest at the rate of 8.51 percent per annum. If you are a senior then the bank will give you interest at the rate of 8.76 percent.

Ujjivan Small Finance Bank (Ujjivan Small Finance Bank) is offering interest at the rate of 8.00 percent per annum to the general customer on FD of 1001 days. The bank is currently offering 8.75 percent interest to senior citizens.

The name of Utkarsh Small Finance Bank is also included in the list of banks that pay more interest on FDs. The bank is giving 8.00 per cent interest to general public and 8.75 per cent interest to senior citizens on FDs maturing in 1001 days.

North East Small Finance Bank is offering 8.00% interest to general customers and 8.75% to senior citizens on FDs maturing in 1001 days.

The post FD interest rate: These 6 banks will quickly double the money deposited in FD, check details first appeared on Rightsofemployees.com.

In order to control the inflation rate, the country’s central bank (RBI) has increased the repo rate six times, due to which the interest rates of bank FDs increased several times. Due to the rapidly increased Fixed Deposit interest rates, some banks are giving good interest to the investors. At the same time, investors are being given more interest than before on Tax Saving Fixed Deposit.

Here is information about tax saving fixed deposits of SBI, HDFC Bank, ICICI Bank and other banks. By comparing these interest, you can know which bank will give you more profit with tax saving. However, before that let us know about tax saving FD.

What is tax saving fixed deposit 

Under tax saving FD, along with a fixed return, the benefit of tax exemption is also given. Under this, exemption can be claimed under Section 80C of the Income Tax Act 1961.

Tax Saving Fixed Deposit Features 

• Under this FD, an account can be opened on investment ranging from Rs 100 to Rs 1.5 lakh.
• The lock in period is for five years.
• This FD gives interest on monthly or quarterly basis.
• Tax will be applicable on the interest earned.
• The rule of premature withdrawal is not applicable in this.
• There will be an option of joint account in tax saving FD scheme.

Which bank is giving more interest on tax saving FD 

SBI Bank is paying 6.50% interest on tax saving FD. On the other hand, HDFC Bank 7%, ICICI Bank 7%, Axis Bank 7%, IndusInd Bank 7.25% and DCB Bank 7.60% are paying interest on five-year tax saving FD.

The post Tax Saving Fixed Deposit: SBI, HDFC or ICICI Bank, Who is giving highest interest on tax saving FD, Know details first appeared on Rightsofemployees.com.

10 big banks of the country SBI, ICICI, HDFC, Axis, Bandhan Bank, IndusInd Bank, Yes Bank, Bank of India, RBL Bank and Kotak Mahindra Bank have recently increased the interest rates on FD. Now out of these 10 banks, Bandhan Bank, Yes Bank, Axis Bank, HDFC, ICICI are giving the highest interest to senior citizens. Let us know which of these banks is offering the highest interest.

HDFC bank new rates

1 year to 15 months: For general public – 6.50 per cent; For Senior Citizen – 7.00 percent
15 months to less than 18 months: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
18 months to 2 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
2 years 1 day to 3 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
3 years 1 day to 5 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
5 years 1 day to 10 years: For general public – 7.00 per cent; For senior citizens – 7.75 percent.
ICICI Bank’s interest rates on FDs of less than Rs 2 crore ..
1 year to 389 days: For general public – 6.60 per cent; For Senior Citizen – 7.10 percent
390 days to less than 15 months: For general public – 6.60 per cent; For Senior Citizen – 7.10 percent
15 months to less than 18 months: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
18 months to 2 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
2 years 1 day to 3 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
3 years 1 day to 5 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
5 years 1 day to 10 years: For general public – 6.90 per cent; For Senior Citizen – 7.50 percent.

SBI FD rates

SBI is giving maximum 7% interest on FD to senior citizens. Apart from this, common people are getting 6.50 percent interest on FDs of one year to less than 2 years, 5.50 percent interest on FDs of 180 to 210 days. The bank is giving 5.75% interest for 211 days. 5.75% interest is being received on FDs ranging from 2 years to less than 5 years. 5.50% on FDs of 5 years and up to 10 years, 5% interest is being received on FDs of 46 days to 179 days. 3.50 percent interest is being received on FD of 7 to 45 days.

Kotak Mahindra Bank revised FD rates on 28 December

6 months: For general public – 5.75%, for senior citizens – 6.25%

12 months: For general public – 6.75 percent, for senior citizens – 7.25 percent

15 months: For general public – 7 percent, for senior citizens – 7.5 percent

18 months: For general public – 7 percent, for senior citizens – 7.5 percent

21 months: For general public – 7 percent, for senior citizens – 7.5 percent.

Axis Bank FD interest rates – for amounts below Rs 2 crore

• 3 months to less than 4 months: 4.50 per cent for general public; 4.50 percent for senior citizens
• 4 months to less than 5 months: 4.50 per cent for general public; 4.50 percent for senior citizens
• 5 months to less than 6 months: 4.50 per cent for general public; 4.50 percent for senior citizens
• 6 months to less than 7 months: 5.75 per cent for general public; 6.25 percent for senior citizens
• 7 months to less than 8 months: 5.75 per cent for general public; 6.25 percent for senior citizens
• 8 months to less than 9 months: 5.75 per cent for general public; 6.25 percent for senior citizens
• 9 months to less than 10 months: 6.00 per cent for general public; 6.50 percent for senior citizens
• 10 months to less than 11 months: 6.00 per cent for general public; 6.50 percent for senior citizens
• 11 months to less than 11 months 25 days: 6.00 per cent for general public; 6.50 percent for senior citizens
• 11 months 25 days to less than 1 year: 6.00 per cent for general public; 6.50 percent for senior citizens
• 1 year to less than 1 year 5 days: 6.75 per cent for general public; 7.25 percent for senior citizens
• 1 year 5 days to less than 1 year 11 days: 6.75 per cent for general public; 7.25 percent for senior citizens
• 1 year 11 days to less than 1 year 25 days: 6.75 per cent for general public; 7.25 percent for senior citizens
• 1 year 25 days to less than 13 months: 6.75 per cent for general public; 7.25 percent for senior citizens
• 13 months to less than 14 months: 6.75 per cent for general public; 7.25 percent for senior citizens
• 14 months to less than 15 months: 6.75 per cent for general public; 7.25 percent for senior citizens
• 15 months to less than 16 months: 6.75 per cent for general public; 7.25 percent for senior citizens
• 16 months to less than 17 months: 6.75 per cent for general public; 7.25 percent for senior citizens
• 7 months to less than 18 months: 6.75 per cent for general public; 7.25 percent for senior citizens
• 18 months to less than 2 years: 6.75 per cent for general public; 7.25 percent for senior citizens
• Less than 2 years to 30 months: 7.00% for general public; 7.50 percent for senior citizens
• 30 months to less than 3 years: 7.00 per cent for general public; 7.50 percent for senior citizens
• 3 years to less than 5 years: 7.00% for general public; 7.50 percent for senior citizens
• 5 years to 10 years: 7.00 per cent for general public; 7.50 percent for senior citizens.

RBL Bank FD rates

• 7 days to 14 days: For general public – 3.50 per cent; For senior citizens – 4 percent
• 15 days to 45 days: For general public – 4.00 per cent; For Senior Citizen – 4.50 percent
• 46 days to 90 days: For general public – 4.50 per cent; For senior citizens – 5 percent
• Less than 91 days equal to 6 months: For general public – 4.75 per cent; For Senior Citizen – 5.25 percent
• 181 days to 240 days: 5.50 per cent for general public; For senior citizens – 6 percent
• 241 days to 364 days: For general public – 6.05 per cent; For Senior Citizen – 6.55 percent
• 365 days to 452 days: For general public – 7%; For Senior Citizen – 7.50 percent
• 15 months: For general public – 7.80 per cent; 8.30 percent for senior citizens
• 15 months 1 day to 725 days: For general public – 7.80 per cent; 8.30 percent for senior citizens
• 725 days: For general public – 7.80 per cent; 8.30 percent for senior citizens

Bandhan bank new rates

• 7 days to 15 days: For general public – 3 percent
• 16 days to 28 days: For general public – 3 percent
• 29 days to 45 days: For general public – 3.50 percent
• 46 days to 90 days: For general public – 4.50 percent
• 91 days to 180 days: For general public – 4.50 percent
• 181 days to 364 days: For general public – 6.75 percent
• 365 days: For general public – 7.90 percent
• 366 days: 7.90 percent for general public
• 367 days to less than 15 months: 7.90 percent for general public
• 15 months to less than 2 years: 6.15 percent for general public
• 2 years to 3 years: 6.15 percent for general public
• 3 years to 5 years: 6.15 percent for general public
• 5 years to 10 years: 5.00 percent for general public

IndusInd Bank FD Rates (Fixed Deposit Rate on IndusInd Bank )

• Interest on FD maturing in 7 to 30 days – 3.50%
• Interest on FD maturing in 31 to 45 days – 4%
• Interest on FD maturing in 46 to 60 days – 4.50%
• Interest on FD maturing in 61 to 90 days – 4.60%
• 4.75% interest on FDs maturing in 91 to 120 days
• Interest on FD maturing in 121 to 180 days – 5%
• 5.75% interest on FDs maturing in 181 to 210 days
• 5.80% interest on FDs maturing in 211 to 269 days
• Interest on FD maturing in 270 to 354 days – 6%
• 6.25% interest on FDs maturing in 355 to 364 days
• Interest on FD maturing in 1 year to 1 year 6 months – 7%
• 7.25% interest on FDs maturing in 1 year to 6 months to 2 years
• Interest on FD of 2 years to 3 years is 7.50 percent
• 7.25% interest on FDs of 3 years to 61 months
• Interest on 5 year FD 7.25 percent

Interest rates on Yes Bank FD

• On FD of 7 to 14 days – 3.25 percent interest
• On FD of 15 to 45 days – 3.70 percent interest
• On FD of 46 to 90 days – 4.10 percent interest
• 91 to 180 days on FD – 4.75 percent interest
• On FD of 181 to 271 days – 5.75 percent interest
• 272 to less than 1 year on FD – 6 percent interest
• On FD of 1 year to 120 months – 7 percent interest

Bank of India increased interest on FD

The country’s public sector bank Bank of India (BOI) has revised the FD interest rates. The bank has increased the interest on FDs of less than Rs 2 crore. The bank is offering higher interest on FD of 444 days. BOI is offering 7.05 percent interest to the common people on 444 days FD. The bank is offering 7.55 percent interest to senior citizens on this FD. The bank is paying 7.25 percent interest on FDs of 2 to 5 years.

The post SBI, ICICI, HDFC, Axis Bank FD Rate: These 10 banks are giving the highest FD interest to senior citizens, check the complete list first appeared on Rightsofemployees.com.

The most important thing is to maintain minimum balance. Every bank has different minimum balance limit, which customers have to maintain. If the minimum balance is not maintained according to the variant of a customer’s account, then the bank charges a penalty from him.

State Bank of India (SBI Minimum Balance Rules) has fixed the rule of minimum balance in its accounts according to the region. For rural areas, this limit is Rs 1,000. Semi-urban area customers will have to keep Rs 2,000 in their account. Whereas, in Metro City this limit is 3 thousand rupees.

Minimum balance rules for HDFC Bank account holders

The average minimum balance limit in HDFC Bank also depends on the residency. This limit is Rs 10,000 in cities, Rs 5,000 in semi-urban areas and Rs 2,500 in rural areas.

Minimum balance rules for ICICI Bank account holders
ICICI Bank has fixed the rule of minimum balance in its accounts according to the region. There is a limit of Rs 10,000 for urban areas, Rs 5,000 for semi-urban areas and Rs 2,500 for rural areas.

Boards of banks can remove fine from those who do not keep minimum balance.

At present, you have to pay fine for not keeping minimum balance in the bank account. But if everything goes well in the coming time, there will be no need to maintain minimum balance in the bank account. In fact, Minister of State for Finance Bhagwat Kishanrao Karad had recently said that the Board of Directors of banks can decide to abolish the penalty on accounts that do not maintain minimum balance. In response to a question, Karad had said in Srinagar, “Banks are independent bodies. Their board of directors can decide to waive the fine.

The post SBI Minimum Balance Rules: SBI, HDFC and ICICI Bank customers Alert! Here are the rules related to minimum balance first appeared on Rightsofemployees.com.

Yes, an order has been given by Union Finance Minister Nirmala Sitharaman to simplify the banking system. It was said on behalf of the Finance Minister that banks should make banking operations simple according to the needs of the customers.

With this, more and more customers will be able to connect with them. The Finance Minister suggested in the meeting The Union Finance Minister said last days that banks should pay attention to the facilities of the customers. This will make the process easier for the borrowers.

On behalf of the Finance Minister, it was also told to the banks that the standards of giving loans should be correct. This suggestion was made a few days ago in a meeting between industry representatives and the Finance Minister.

During this, Nirmala Sitharaman asked all the big banks to implement it. Following this suggestion given by the Finance Minister will benefit the customers of all banks including ICICI Bank, SBI and HDFC Bank. The Finance Minister also said that there is a need to make the banking system more and more customer friendly. You have to take care of the facilities of the customers.

The post Big news for the customers of SBI-HDFC-ICICI Bank, Finance Minister issued a statement first appeared on Rightsofemployees.com.

After the revision in the interest rates of Citibank, it is paying 2.10% to 7.25% interest to the common people on FDs maturing in 7 days to 10 years. These new rates are available on FDs of Rs 2 crore or less. New rates will be available only for new FDs and FDs that are being renewed.

Citi Bank FD Rates

The bank is offering an interest rate of 3.00% on deposits maturing in 7 days to 30 days. Citibank is offering 2.15% interest on FDs maturing in 15 days to 35 days. Citibank is offering an interest rate of 3.50% on FDs maturing in 36 days to 180 days. Paying 7.25 percent interest on FDs of 181 to 400 days. 3.50% interest is being paid on FDs of 401 to 1096 days. Citibank is offering a maximum interest of 7.25 per cent on FDs of 181 days to 400 days.

FD rates increased due to increase in repo rate

FD interest rates continue to rise from May 2022. RBI started increasing the repo rate from May last year to control inflation. Since then, the repo rate has been increased by 2.25 percent. Although there was a reduction in the inflation rate in November, but even then the RBI increased the repo rate by 0.35 percent on 7 December. After that all the banks started making the loan costlier. Also started increasing the interest on FD.

These banks have increased interest on FD

After increasing the repo rate of RBI in the banking sector, most of the banks are increasing the interest on FD. Now there is a competition among the banks regarding the interest rates on FDs. Everyday one or the other bank is increasing the interest on FD. Till now banks like Yes Bank, SBI, HDFC, Indian Overseas have increased interest on FDs.

The post Bank Fixed Deposits Rates increased: Opportunity to earn more on FD, now this bank has increased interest on FD first appeared on Rightsofemployees.com.

Reserve Bank of India KYC Rules: Reserve Bank of India (RBI) has issued a new order for banks regarding KYC. It was told by RBI that if you have done KYC once, then you do not need to go to the branch again to get re-KYC done. It was said on behalf of the central bank that in such a situation self-declaration made by the customer would be sufficient. Similarly, the address etc. of the account holder can also be updated.

Bank will verify within two months

Banks have been told by the RBI that it is not necessary for the customer to visit the bank for re-KYC of the customer. It was said in the order that in this situation the facility of KYC should be provided to the account holder through email-id, registered mobile number, ATM, digital channel. On behalf of RBI, it was said that if there is a change in the address, then the customer can submit his updated address to the bank through any medium. Within two months of this, the address declared by the bank will be verified.

In some cases, the KYC process has to be started again.

The Reserve Bank further said that since banks are required to update their records from time to time. Therefore, in some cases, the KYC process may have to be started again. This happens only in cases where the list of documents is not available or the validity of the documents required for KYC has expired. In such cases the bank needs to obtain the KYC documents produced by the customer.

The post Re-KYC Rules : New rule for Crores of Customers of SBI-HDFC-ICICI Bank! RBI issued order first appeared on Rightsofemployees.com.

Now, out of these 5 banks, Axis Bank, HDFC, ICICI are giving the highest interest to senior citizens. These banks are offering 7.50 per cent interest to senior citizens. SBI is paying a maximum interest of 7 per cent. Let us know which of these banks is offering the highest interest and best offers.

These are the new rates of HDFC Bank

7 days to 14 days: For general public – 3.00 per cent; For Senior Citizen – 3.50 percent

15 days to 29 days: For general public – 3.00 per cent; For Senior Citizen – 3.50 percent

30 days to 45 days: For general public – 3.50 per cent; For Senior Citizen – 4.00 percent

46 days to 60 days: For general public – 4.50 per cent; For Senior Citizen – 5.00 percent

61 days to 89 months: For general public – 4.50 per cent; For Senior Citizen – 5.00 percent

90 days to 6 months: For general public – 4.50 per cent; For Senior Citizen – 5.00 percent

6 months 1 day to 9 months: For general public – 5.75 per cent; For Senior Citizen – 6.25 percent

9 months 1 day to less than 1 year: For general public – 6.00 per cent; For Senior Citizen – 6.50 percent

1 year to 15 months: For general public – 6.50 per cent; For Senior Citizen – 7.00 percent

15 months to less than 18 months: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent

18 months to 2 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent

2 years 1 day to 3 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent

3 years 1 day to 5 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent

5 years 1 day to 10 years: For general public – 7.00 per cent; For Senior Citizen – 7.75 percent.

ICICI Bank’s interest rates on FDs of less than Rs 2 crore ..

7 days to 14 days: For general public – 3.00 per cent; For Senior Citizen – 3.50 percent

15 days to 29 days: For general public – 3.00 per cent; For Senior Citizen – 3.50 percent

30 days to 45 days: For general public – 3.50 per cent; For Senior Citizen – 4.00 percent

46 days to 60 days: For general public – 4.00 per cent; For Senior Citizen – 4.50 percent

61 days to 90 days: For general public – 4.50 per cent; For Senior Citizen – 5.00 percent

91 days to 120 days: For general public – 4.75 per cent; For senior citizens – 5.25 percent

121 days to 150 days: For general public – 4.75 per cent; For senior citizens – 5.25 percent

151 days to 184 days: For general public – 4.75 per cent; For senior citizens – 5.25 percent

185 days to 210 days: For general public – 5.50 per cent; For Senior Citizen – 6.00 percent

211 days to 270 days: For general public – 5.50 per cent; For Senior Citizen – 6.00 percent

271 days to 289 days: For general public – 5.50 per cent; For Senior Citizen – 6.00 percent

290 days to less than 1 year: For general public – 5.75 per cent; For Senior Citizen – 6.25 percent

1 year to 389 days: For general public – 6.60 per cent; For Senior Citizen – 7.10 percent

390 days to less than 15 months: For general public – 6.60 per cent; For Senior Citizen – 7.10 percent

15 months to less than 18 months: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent

18 months to 2 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent

2 years 1 day to 3 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent

3 years 1 day to 5 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent

5 years 1 day to 10 years: For general public – 6.90 per cent; For Senior Citizen – 7.50 percent.

SBI FD rates

SBI is giving maximum 7% interest on FD to senior citizens. Apart from this, common people are getting 6.50 per cent interest on FDs of one year to less than 2 years, 5.50 per cent interest on FDs of 180 to 210 days. The bank is giving 5.75% interest for 211 days. 5.75% interest is being received on FDs ranging from 2 years to less than 5 years. 5.50% on FDs of 5 years and up to 10 years, 5% interest is available on FDs of 46 days to 179 days. 3.50 percent interest is being received on FDs of 7 to 45 days.

Kotak Mahindra Bank revised FD rates on 28 December

6 months: For general public – 5.75%, for senior citizens – 6.25%

12 months: For general public – 6.75 percent, for senior citizens – 7.25 percent

15 months: For general public – 7 percent, for senior citizens – 7.5 percent

18 months: For general public – 7 percent, for senior citizens – 7.5 percent

21 months: For general public – 7 percent, for senior citizens – 7.5 percent.

Axis Bank FD interest rates for amounts below Rs 2 crore

7 days to 14 days: 3.50 per cent for general public; 3.50 percent for senior citizens

15 days to 29 days: 3.50 per cent for general public; 3.50 percent for senior citizens

30 days to 45 days: 3.50 per cent for general public; 3.50 percent for senior citizens

46 days to 60 days: 4.00 per cent for general public; 4.00 percent for senior citizens

61 days to less than 3 months: 4.50 per cent for general public; 4.50 percent for senior citizens

3 months to less than 4 months: 4.50 per cent for general public; 4.50 percent for senior citizens

4 months to less than 5 months: 4.50 per cent for general public; 4.50 percent for senior citizens

5 months to less than 6 months: 4.50 per cent for general public; 4.50 percent for senior citizens

6 months to less than 7 months: 5.75 per cent for general public; 6.25 percent for senior citizens

7 months to less than 8 months: 5.75 per cent for general public; 6.25 percent for senior citizens

8 months to less than 9 months: 5.75 per cent for general public; 6.25 percent for senior citizens

9 months to less than 10 months: 6.00 per cent for general public; 6.50 percent for senior citizens

10 months to less than 11 months: 6.00 per cent for general public; 6.50 percent for senior citizens

11 months to less than 11 months 25 days: 6.00 per cent for general public; 6.50 percent for senior citizens

11 months 25 days to less than 1 year: 6.00 per cent for general public; 6.50 percent for senior citizens

1 year to less than 1 year 5 days: 6.75 per cent for general public; 7.25 percent for senior citizens

1 year 5 days to less than 1 year 11 days: 6.75 per cent for general public; 7.25 percent for senior citizens

1 year 11 days to less than 1 year 25 days: 6.75 per cent for general public; 7.25 percent for senior citizens

1 year 25 days to less than 13 months: 6.75 per cent for general public; 7.25 percent for senior citizens

13 months to less than 14 months: 6.75 per cent for general public; 7.25 percent for senior citizens

14 months to less than 15 months: 6.75 per cent for general public; 7.25 percent for senior citizens

15 months to less than 16 months: 6.75 per cent for general public; 7.25 percent for senior citizens

16 months to less than 17 months: 6.75 per cent for general public; 7.25 percent for senior citizens

7 months to less than 18 months: 6.75 per cent for general public; 7.25 percent for senior citizens

18 months to less than 2 years: 6.75 per cent for general public; 7.25 percent for senior citizens

Less than 2 years to 30 months: 7.00% for general public; 7.50 percent for senior citizens

30 months to less than 3 years: 7.00 per cent for general public; 7.50 percent for senior citizens

3 years to less than 5 years: 7.00% for general public; 7.50 percent for senior citizens

5 years to 10 years: 7.00 per cent for general public; 7.50 percent for senior citizens.

The post SBI vs HDFC vs ICICI vs Kotak vs Axis Which offering best and highest interest on fixed deposit first appeared on Rightsofemployees.com.

Senior citizens get higher interest in fixed deposits as compared to other investors. Here we have compared the interest rates offered to senior citizens by big banks like State Bank of India (SBI), HDFC Bank, Canara Bank and ICICI Bank and Punjab National Bank (PNB). Let us know in which bank you will get the highest return on deposit.

HDFC Bank

HDFC Bank has increased the interest rate on FDs of less than Rs 2 crore. Now senior citizens will get 3.50% to 7.50% interest on FDs of 7 days to 10 years. At the same time, the bank is offering the highest interest rate of 7.75 per cent to senior citizens. According to the official website of the bank, the new rates are effective from December 14, 2022. Common investors will get up to 7% interest on FDs ranging from 5 years 1 day to 10 years. On the other hand, if you are a senior citizen then you will be given 7.75% return.

State Bank of India (SBI)

The country’s largest public sector bank SBI has increased the interest rates on FDs of less than Rs 2 crore by 65 basis points. The new rates have come into effect from December 23. After the hike, senior citizens will get 3.50% to 7.25% interest for a period of 7 days to 10 years. The bank has increased the interest rate on deposits from 211 days to less than one year from 5.50 percent to 5.75 percent. There itself. Senior citizens will get 6.25 percent interest on this.

• FDs of 1 year to less than 2 years will now fetch 6.75 per cent interest, while senior citizens will get 7.25 per cent interest on it.
• Senior citizens will now get 7.25 per cent interest as against 6.75 per cent on FDs of 2 years to less than 3 years.
• Senior citizens will now get 6.75% interest on FDs for a period ranging from 3 years to less than 5 years.
• Apart from this, up to 7.25 percent interest will be available for a period ranging from 5 years to 10 years.

Punjab National Bank (PNB)

According to the bank’s website, senior citizens will be given 50 basis points more interest on any FD than general depositors. The bank is offering interest rates ranging from 4% to 7.75% for senior citizens on FDs below Rs 2 crore for tenures ranging from 7 days to 10 years.

ICICI Bank

ICICI Bank has increased interest rates by up to 60 basis points on FDs up to Rs 2 crore. The increased FD rates are applicable from December 16, 2022. After the hike, the interest rate offered by the bank ranges from 3.5% to 7.50% for tenures ranging from 7 days to 10 years. If you do FD for a period ranging from 5 years 1 day to 10 years, then you will get 6.90 percent return. At the same time, senior citizens will get 7.50 percent interest on it.

Canara Bank

Public Sector Bank, Canara Bank has increased the interest rates on FDs of less than Rs 2 crore. According to the official website of the bank, the new rates are applicable from December 19, 2022. The bank is offering senior citizens an interest rate of 3.25% to 7.50% on FDs maturing in 7 days to 10 years.

The post Senior Citizen FD Rate Increased: SBI, HDFC, PNB, ICICI Bank increased interest rates on FD for Senior Citizen first appeared on Rightsofemployees.com.

Account holders can keep property documents, savings bonds, insurance policies and other things safe in the Bank Locker. However, banks will charge some rent in return, depending on the locker type and area.

When the locker keys are given to the account holders, the rent for the entire financial year is collected at the same time. Along with this, the documents of the locker are also given to the account holder. Here is the information about locker charges of HDFC Bank, SBI, ICICI Bank, PNB, Axis and Canara Bank. Let us know who will charge how much from the people.

SBI Bank Locker Charges

According to the bank’s website, bank locker charges range from Rs 500 to Rs 3000, depending on the locker size and area. In metro and metropolitan areas, this charge is levied for 2000, 4000, 8000 and 12000 rupees, for small, large and extra large locker sizes. For semi-urban and rural areas, this charge will be Rs 1,500, Rs 3,000, 6,000 and Rs 9,000 for small, medium, big and extra large locker sizes.

HDFC Bank Locker Charges

: This bank charges between Rs 3,000 and Rs 20,000 per annum for lockers. For metro and urban cities, Rs 3000 for small locker, Rs 5 thousand for medium size locker, Rs 10 thousand for large size locker and Rs 20 thousand for extra large size locker will have to be paid annually.

ICICI Bank Locker Charges

This bank charges an annual charge of Rs 1200 to Rs 5000 for small size lockers, while it charges Rs 10,000 to Rs 22,000 for extra large lockers. GST is not included in this.

PNB Bank Locker

This bank charges from 1250 to 10 thousand rupees for rural areas, whereas for urban and metro cities this charge will be from 2 thousand rupees to 10 thousand rupees.

Axis Bank Locker

This bank charges from 1500 to 10 thousand for rural area, from 1700 to 11000 for semi urban and from 3104 to 14256 rupees for urban or metro city. The registration fee for the locker is Rs 1000 plus GST Rs 100.

Canara Bank Locker Charges

The one time registration charge in this bank is Rs.400 plus GST. After this, a charge of 1 thousand to 10 thousand is taken from the customers for the locker – for small, medium, large and very large locker.

The post Bank issued New Locker Chares List: Locker charges list of these banks including SBI, HDFC and PNB has been released, check new charges list first appeared on Rightsofemployees.com.

Minimum Balance in Bank Account: Have you ever had to pay penalty for not maintaining minimum balance in bank account? You probably have the answer yes. If this is the case, then there will be no need to maintain minimum balance in the account if everything goes well in the future.

The limit for maintaining minimum balance in savings and current accounts of different banks varies. In the last days, during the campaign to open Jan-Dhan accounts towards the Centre, efforts were made that every citizen of the country should have a bank account. There is no compulsion to maintain minimum balance in Jan Dhan account.

Minister of State for Finance Bhagwant Kishanrao Karad has given an important statement regarding the maintenance of minimum balance in an independent account for the Board of Directors to decide to waive the penalty. He said that the board of directors of banks can take a decision to waive penalty on accounts that do not maintain minimum balance. Karad said in response to a question – Banks are independent bodies. Their board of directors can take a decision to waive the fine.

Let us tell you the question asked to Minister of State Karad, the media had asked Minister of State Karad about maintaining minimum balance. He was asked whether the Center is considering giving instructions to banks that no penalty should be imposed on accounts in which deposits fall below the minimum prescribed level.

Karad on a two-day visit to Jammu and Kashmir In fact, the Minister of State for Finance is on a two-day visit to the Union Territory to review the implementation of various financial schemes in Jammu and Kashmir. He said that the banks in Jammu and Kashmir have done a good job in the last few years. Also directed that they improve their performance on those standards.

The post Big news for SBI-HDFC-ICICI bankers, the hassle of maintaining minimum balance is over! first appeared on Rightsofemployees.com.

From giving benefits of government schemes in banks to FD, the interest and amount is calculated by RBI. Agriculture loan waiver amount is also given by the government to private sector banks as assistance. After the decision of the government, these three private sector bank account holders have become happy. Let us know how these account holders will benefit.

The central government has made a big announcement for three private sector banks. The government has allowed all three banks to provide financial services for overseas purchases. Let us tell you that till now these rights were only with the government banks, but now it has also been with these three banks.

The government is of the view that these banks may be allowed to issue letters of credit of Rs 2000 crore on the capital and revenue side for a period of one year. In fact, the Defense Ministry has given huge responsibility to three private sector banks- HDFC Bank, ICICI Bank and Axis Bank. These three banks will now be able to offer letters of credit for overseas purchases and direct bank transfer business.

Private banks got this right for the first time

This is the first time that the government has allowed three private sector banks to provide financial services for overseas purchases. The Ministry of Defense itself has announced this. According to the Defense Ministry, the performance of these banks will be regularly monitored so that further action can be taken as per the requirement.

The post Good news for HDFC, ICICI and Axis Bank account holders before Diwali, read complete details here first appeared on Rightsofemployees.com.

taxAccording to the need of the customers, the Finance Minister ordered the bank to make the banking system more simple. So that customers can connect with the bank as much as possible.

The Finance Minister has said that banks need to pay more attention to the facilities of the customers so that its process can be made easier for the borrowers.

Finance Minister suggested

The Finance Minister suggested the banks that the lending standards should be kept healthy. In fact, a few days ago this suggestion was made in an important meeting between industry representatives and the Finance Minister. This Finance Minister talked about implementing the banks. This will benefit the customers of all banks including SBI, HDFC, ICICI.

SBI Chairman Dinesh Kumar Khara says that the concern of startups is about more equity.

Take care of the convenience of the customers

The Finance Minister said, ‘Banks need to become more and more customer friendly. But it should not be to the extent of taking adverse risks. You don’t need to take it. But you need to keep in mind the convenience of the customers and be more and more friendly. Dinesh Khara said on this that the process of digitization in the bank is increasing for the convenience of the customers. This will give relief to the customers from banking related problems.

The post Banking System: Important news for customers of SBI, HDFC and ICICI Bank, the Finance Minister made a big announcement first appeared on Rightsofemployees.com.

Many great facilities are given to the customers on behalf of the nationalized banks on opening the account. But to take advantage of these facilities, you also have to take care of some rules and regulations.

It is necessary to maintain minimum average balance-

After opening an account in any bank, it is necessary that you must maintain a minimum average balance in your account. Under the minimum average balance, the balance fixed by the bank has to be maintained in the account.

If you are not able to maintain this balance then penalty is charged by the bank. Every bank sets an average limit, the customer is always required to keep money in the account up to that limit.

The limits of some banks are the same-

Banks have their own fixed average minimum balance. However, some banks have the same limit while some have different. Here today we will tell you about the minimum balance of the country’s giant banks SBI, ICICI Bank and HDFC Bank.

How much balance is required to be maintained in SBI?

What is the minimum balance to be kept in the savings account of State Bank of India (SBI), it depends on where you live. The minimum limit in the account of SBI is from one thousand rupees to three thousand rupees according to the city. For rural areas, this is Rs 1,000, if you have an account in a semi-urban area branch, then you need to keep Rs 2,000 in your account. Apart from this, in metro city this limit is Rs 3,000.

Average minimum balance in the account for HDFC-

The average minimum balance limit in HDFC depends on your residency. In cities, this limit is Rs 10,000. At the same time, there is a limit of Rs 5,000 in semi-urban areas and Rs 2,500 in rural areas.

ICICI Bank limit-

In the account of ICICI Bank, the same minimum balance has to be maintained as HDFC. Here it is necessary to maintain a limit of Rs 10,000 for urban area account holder, Rs 5,000 for semi-urban and Rs 2,500 for rural area.

The rule of minimum balance is not applicable in some special bank accounts. Such bank accounts include accounts linked to the Pradhan Mantri Jan Dhan Yojana, basic savings bank deposit accounts, savings accounts of pensioners, salary accounts and savings accounts of minors.

The post Bank Account – Big news for 4 banks, if you want to avoid fines, then do this work immediately first appeared on Rightsofemployees.com.

Therefore, it is very important for you to know how much banks have fixed the minimum amount. Today we are telling you how much you should keep in your account at least so that you can avoid getting fined.

Minimum balance i.e. the minimum amount is called ‘Monthly Average Balance’ in the language of banking, meaning ‘monthly average amount’. This means that at least this amount should be in your account every single month, otherwise penalty will be imposed. This penalty ranges from Rs 5 to Rs 600. All the information given here is related to the savings account. These rules do not apply to current or other categories of account holders.

SBI(State Bank Of India)

SBI has fixed ‘Monthly Average Amount’ separately for urban and rural branches. The account holders of the metro city will have to keep at least Rs 3000 in their account.

Similarly, SBI account holders of urban areas will also have to keep a minimum balance of up to Rs 3000 in their account. If people of metro and urban areas deposit less than this amount in the account, then they can be fined from 10 to 15 rupees. GST is also added to this. In this way the penalty amount will increase further.

However, there is some relief for the account holders of semi-urban and rural areas. It is mandatory for semi-urban customers to keep 2000 rupees and village bank customers 1000 rupees in their accounts. Semi-urban account holders face a fine ranging from Rs 7.5 to Rs 12. GST is also added to this. At the same time, there is a fine of 5 to 10 rupees for the people of rural areas. Along with this, GST is also levied.

ICICI Bank

Private bank ICICI has fixed a minimum balance of Rs 10,000 for people in metro and urban areas. If you keep less money than this, then fine will be imposed. At the same time, the amount has been fixed up to Rs 5000 for semi-urban and Rs 2000 for rural. The fine of private banks is much higher than that of government banks.

If you do not maintain the minimum balance in ICICI Bank, you will have to pay a penalty of Rs 100 and add five percent of the amount that has fallen short in meeting the minimum balance. This penalty amount rule is the same for all types of branches of ICICI except Gramin Bank. For not maintaining the minimum balance in Gramin Bank, five percent of the amount that has fallen short in meeting the minimum balance will have to be paid as a penalty.

HDFC Bank

Like ICICI, the penalty amount in HDFC Bank is also very high. HDFC Bank has fixed a ‘monthly average amount’ i.e. minimum balance of Rs 10,000 for metro and urban area branches. At the same time, the amount of Rs 5000 and Rs 2,500 is fixed for semi-urban and rural branches. If you do not keep this much money in the account, then there are different types of fines.

In metro and urban areas, people who have balance between 7,500 to 10,000 in their account, then they will have to pay a fine of Rs 150 plus some tax. At the same time, those who have an amount from 5,000 to 7,500 in their account, they will have to pay a penalty of Rs 300 after adding some tax. Similarly, account holders of semi-urban area also have to pay a penalty of Rs 150 to 300 plus tax on the basis of reduction in minimum balance.

On the other hand, in rural areas, if someone has an amount from 1,000 to 2,500 in his account, then he will have to pay a fine of Rs 270 and adding tax. And if someone has less than 1,000 in his account, then a fine of 450 will have to be paid. This means that the worst effect will be on the poor.

The post Minimum balance Rules Change: Now the account holders of HDFC, SBI, ICICI, will have to keep this much money in the account first appeared on Rightsofemployees.com.

According to the need of the customers, the Finance Minister ordered the bank to make the banking system more simple. So that customers can connect with the bank as much as possible.

The Finance Minister has said that banks need to pay more attention to the facilities of the customers so that its process can be made easier for the borrowers.

Finance Minister suggested

The Finance Minister suggested the banks that the lending standards should be kept healthy. In fact, a few days ago this suggestion was made in an important meeting between industry representatives and the Finance Minister. This Finance Minister talked about implementing the banks. This will benefit the customers of all banks including SBI, HDFC, ICICI.

SBI Chairman Dinesh Kumar Khara says that the concern of startups is about more equity.

Take care of the convenience of the customers

The Finance Minister said, ‘Banks need to become more and more customer friendly. But it should not be to the extent of taking adverse risks. You don’t need to take it. But you need to keep in mind the convenience of the customers and be more and more friendly.

Dinesh Khara said on this that the process of digitization in the bank is increasing for the convenience of the customers. This will give relief to the customers from banking related problems.

The post Banking System: Important news for customers of SBI, HDFC and ICICI Bank, the Finance Minister made a big announcement first appeared on Rightsofemployees.com.

The order issued on 22 August In fact, the Water Resources Department of the government had to give this order to the employees due to some mining contractors. He was issued a bank guarantee. This order has been issued to the state government employees on 22 August 2022 (Monday). While giving the order, the Principal Secretary said that some executive engineers and district mining officers have got information about an important thing.

Therefore, this decision was taken , in the letter issued by the Principal Secretary, it was said that HDFC Bank had issued bank guarantees to some mining contractors. These contractors have defaulted in making payments to the state government. When the officials associated with the department reached to encash the bank guarantee, the bank refused to do so without any reason. On this basis, it has been decided that now no account will be kept in HDFC Bank.

Open a salary account in another bank of your choice, such employees whose salary account is in HDFC, they have been appealed to close this account. Employees were also asked to open salary accounts in any other bank of their choice. This order has been given to all the Chief Engineers, Executive Engineers, Sprintending Engineers on behalf of the Water Resources Department.

HDFC Bank’s side In this entire matter, the statement issued by HDFC Bank said that the bank is committed to fulfill all its payment obligations in accordance with the terms of the guarantee. The Bank has also complied with all its payment obligations in respect of matters relating to Bank Guarantees issued by mining contractors. The bank said that in a specific case, HDFC Bank was barred from making payments to the beneficiary under a court order. The matter is sub-judice in the court, till further orders are bound to not make any payment in that case only.

The post HDFC Bank Big Alert ! Close all accounts in HDFC… Government employees got this order, know why? first appeared on Rightsofemployees.com.

SBI: From 180 days to 210 days increased by 0.15 percent from 4.40 percent to 4.55 percent. The interest on FDs of one to two years has also been increased by 0.15 percent to 5.45 percent.

HDFC: The interest on FDs of one to two years increased by 0.15 percent to 5.50 percent. The interest on FDs of three to five years increased by 0.40 percent to 6.10 percent.

The post FD Rate Hike: Big banks have increased interest rates on FD, how much rate in which bank? first appeared on Rightsofemployees.com.

A person cannot be denied a loan due to a poor CIBIL score. Recently, the central government has also considered privatization of all public sector banks except SBI. All these decisions of the government will not only improve the condition of the banks but also benefit the customers. Let us know what benefits are going to be given to the account holders of private banks.

New Banking Rule

The government has taken some big decisions for private sector banks. In this, some things have come out about HDFC, ICICI and Axis Bank. For the banks of the regions except SBI, the government has taken some decisions which are very beneficial for the convenience of the customers. The benefits of government schemes in banks, FD, interest etc., everything is done by RBI. So at the same time, after these things, the government has taken some more decisions which are very beneficial for the account holders.

The central government has allowed three private sector banks to provide finance services on foreign purchases. For the same information, let us tell you that this right was available only on public sector banks. But now these have also become effective on private banks. The government has allowed that a capital of Rs 2 thousand crore can be given on these banks for 1 year. In this, now a big responsibility has been entrusted to HDFC, ICICI and Axis Bank on behalf of the government.

This is the first time that the government has allowed three banks to simultaneously provide financial services on foreign purchases. According to the Ministry of Defense, these banks will be monitored regularly so that further action can be completed as per the need.

The post Big decision of the government: Good news for HDFC, ICICI, or Axis account holders, check detail immediately first appeared on Rightsofemployees.com.