The country’s largest private sector banks, HDFC Bank, have released a large and important update for their millions of saving account holders. The bank has made significant changes in the rules to its cash transaction, which can now have a direct impact on your pocket. Under the new rules, now you will get less free opportunities to deposit or withdraw cash in your home branch or any other branch.

This change is considered part of the bank strategy to promote digital transactions and reduce the cost of cash management on branches. If your account is also in HDFC Bank, then it is very important for you to understand these new rules in detail so that you can avoid unnecessary fees.

What are HDFC Bank’s new Cash Transaction Rules?

HDFC Bank has revised the range of cash transactions and fees for all types of saving accounts.

1. Now now only 4 free cash transactions in a month

This is the biggest change. Previously, customers usually featured 5 free cash transactions (deposits and withdrawals) in a month.

• New rule: Now reduce this limit Only 4 free transaction per month Done ਹੈ. This will include transactions done in both your home branch and other cities in Non-Home Branch.

2. Fifth transaction will charge a thick charge

If you deposit or withdraw more than 4 times a month, then you will have to pay a good fee from the fifth transaction.

• How much charge?: After 4 free transactions, on every additional cash transaction ₹ 150 + Apply GST Will be charged.

3. Border on the total value of cash transactions

The bank has also set a limit on not only the number of transactions, but also how much free cash transactions you can do in a month.

For home branch:

• You without any fee in a month Total 1 lakh rupees (One Lakh Rupees) Only cash can be deposited or withdrawn.
• Charge on crossing limit: After crossing this limit of 1 lakh, you ₹ 5 per thousand rupees Or Minimum ₹ 150 (Whichever more) fee will have to be paid.

For Non-Home Branch:

• Daily boundary of cash withdrawn in second city or branch ₹ 25,000 Has been limited to.

(Keep in mind that the ban on third-party cash transactions will continue as before.)

Why these changes made and what should customers do?

The bank wants to encourage customers to use digital banking channels more and more through these changes.

Advice for you:

• Be digital, save money: Instead of going to the branch to deposit or withdraw small money, UPI (Google Pay, PhonePe), NetBanking, and Debit Card Use as much as possible. This medium is not only free but also more convenient and safe.
• Keep an eye on your transactions: Keep an account of how many cash transactions you are doing in a month so that you do not inadvertently cross the free limit.
• Use ATM for large withdrawal: If you want to withdraw a large amount, you can use ATM according to the limit of your debit card.
• Rebate for senior citizens and certain accounts: It is possible that these rules have been given some discounts for senior citizens and some premium category accounts. Contact your bank for this.

In this era of Digital India, using cash is not only beneficial for your pocket, but it is also a smart and modern banking habit.