44 thoughts on “21 Hidden Charges in Saving Bank Account

  1. Good article. 21 Charges!

  2. I kept FD as 3lakh.. iam confusion of 15 G form and tax deduction.. Plz suggest me .. What to do next

  3. rahul chauhan says:

    5 times 23 rs were deducted from my account twice
    Any idea why that happened?

  4. From my sbi savings a/c 220 rs is deducted as si failure charges on 9.1.2017.I have a recurring deposit a/c which is attached with it.Rs 65/- is already deducted from this a/c.I dont know why it is deducted again???

    • Rs 220 deduction is for failure of standing instruction while Rs 65 is for not depositing RD installment. This is my guess you may want to clarify with SBI.

  5. SBI bank staff failed to update my signature and my cheque drawn was dishonoured.Will the same branch debit charges from my account? How do I know about the hidden charges that I have incurred ?

  6. Satyannarayana Yedla says:

    How one can use mix of cheque and internet banking to transfer money?

    • It depends on you. NEFT/RTGS/IMPS transactions are faster and more accurate in details are right. In case of cheques it takes 2-3 working days to get cleared. Also there can be issues related to signature mismatch or insufficient funds etc. So take your call according to your situation.

  7. GOVIND BHANDARI says:

    TODAY ON 11-04-2016 MY S.B.I BANK HAVE DEBITED 278.37 FOR SI FAIL. WHICH TYPES OF CHARGE THIS IS AND WHY BANKS HAVE DEBITED 278.37 FROM MY ACCOUNT.. PLEASE TELL ME.

    • This seems to be charged for Standing Instruction failure. You can talk to SBI customer care or visit the branch to know the details and request them for refund. As I had pointed out earlier banks these days levy many unethical charges and you should be very careful about the same.

  8. Vaibhav Tiwari says:

    Hi Amit
    Very nice article. I was always worried about charges levied by my bank on Savings accounts. This information is really very useful.

    Regards,
    Vaibhav Tiwari

  9. SUBHANKAR DAS says:

    Sir..
    recently SBI charged Rs. 171.75 /- for “DEBITATM ANNUAL FEE 2015-16” . But I have blocked ATM facility before 1.5 or 2 year ago.. I want to know that after blocking ATM card bank charged for ATM service? I blocked before 2014.please explain. I have already complain on SBI..

  10. Sapna Haryanavi says:

    Thank you for sharing these tips,

    Really appreciate

  11. SAROJA RANJAN PARIDA says:

    Nice informative article

  12. Anupam Rastogi says:

    I personally shared this article to almost all my friends. And an extra congratulation from their side for your great work.

  13. Anupam Rastogi says:

    Completely agreed with your post sir… Normally we don’t no about the general deductions which are made by banks related to our savings account. This post will helps to all those peoples a lot…

  14. B. Somaskanda says:

    Yes very relevant article. The SB account holder who is perhaps most relevant to the bank is being penalised the most at every possible juncture. The most draconian of them being the ATM withdrawal fee.

  15. This is very useful information. Never thought in that way and also never realized that these many charges are applied. Banks are earning in many ways with our money 🙂

    • True 🙂
      And unfortunately these charges would increase going forward. So the onus is with the customer to select the best product.

  16. Good one as always Amit! I have been keeping a tab on these charges levied by my bank on Savings accounts. It will help if you also do a further analysis on the Minimum Balance Requirement, Interest provided on a Cost Benefit basis. I feel banks are abusing Savings accounts through the low interest rates, multiple charges and requirement of Minimum Account Balance.

    • Totally agree – banks are milking their Saving account holder with some unethical charges like ATM withdrawal charges. And to top it customers don’t have much option as banks in India operate more like a cartel!

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