Bank rules changed: From June 1, charges on ATM, cash transactions, locker and account closing will be expensive, details

Federal Bank Charges: Federal Bank, which is counted among the private sector banks, has changed the service charges and fees. These new charges will be applicable from June 1, 2025. These changes include ATM transaction charges, cash transaction charges, penalty for not maintaining average monthly balance (AMB), locker rent and account closure charges.

Federal Bank Charges: Federal Bank, one of the private sector banks, has changed the service charge and fees. These new charges will be applicable from June 1, 2025. These changes include ATM transaction charge, cash transaction charge, penalty for not maintaining average monthly balance (AMB), locker rent and account closure charges.

Cash transaction charge

For savings account customers can avail 5 free cash transactions every month or deposit or withdraw cash up to Rs 5 lakh, whichever is earlier. After this, a charge of Rs 4 will be levied on every Rs 1,000 or part thereof and a minimum charge of Rs 100 per transaction will be Rs 100.

Penalty for not maintaining average monthly balance (AMB)

Club, Delight, all NRI and resident savings scheme account holders will be required to maintain an AMB of Rs 5,000.

General customers will be charged Rs 75 for a shortfall of up to 20% and a maximum of Rs 375 for a shortfall of 100%.

Senior citizens will be charged between Rs 60 and Rs 300.

In rural branches, the charges will be slightly lower for all accounts — general customers will pay Rs 60-Rs 300 and senior citizens will pay Rs 50-Rs 250.

ATM transaction charges

Transactions from other bank ATMs beyond the free limit will be charged Rs 23 for financial transactions and Rs 12 for non-financial transactions (such as balance enquiry).

Transactions declined due to low balance will be charged Rs 25 per transaction.

No charges will be levied at Federal Bank ATMs.

Inward cheque return charges

Rs 400 per instance for rural areas and senior citizens,

Rs 500 per instance for other customers.

Locker rent

Rural and semi-urban branches

Small locker: Rs 2,000 annual rent

Medium: Rs 3,300 rent

Large: Rs 5,500 rent

Urban and metro branches

Small locker: Rs 2,950 to Rs 5,000 rent

Medium: Rs 3,950 to Rs 6,800

Large: Rs 7,400 to Rs 12,800 rent

Account closure charges

Rs 100 if closed within 6 months

Rs 100 if closed between 6-12 months: Rs 100 for rural or senior citizen accounts, Rs 300 for other accounts. Also, there will be no charge if the account is closed within 14 days of the first deposit.

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