Here’s What India’s Leading Banks Charge For Debit Card Services

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The usage of the debit card in India has increased over the years as the citizens have learned the benefits of cashless transactions. The customers also use debit cards for cash deposit and withdrawal apart from using it for the purchase of goods and services. Some of the banks issue the debit cards without any charges but the usage of the debit card beyond a limit can attract some charges which also varies from one bank to another. Here in this article, it has been mentioned on how the major banks present in India charge their customers for various debit card services.

State Bank of India which is the biggest lender of the country charges no money for the issue of normal (Classic/Global) debit cards. But if the Gold and Platinum debit cards have been issued, then one can be charged with a fee of Rs 100 and Rs 306 including the charges of GST. This bank also has the annual maintenance charges that can be between Rs 100-Rs 300 according to the different type of debit cards.

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If someone has the SBI debit cards, then the customer can deposit cash in his own linked account and also in SBI accounts of others. If someone deposits cask in its own account then it is free of cost but if someone deposits cash in other person’s account then he/she will attract a fee of Rs 22 excluding GST as mentioned in the official website of SBI. If the average quarterly balance is not more than Rs 25,000 then a fee of Rs 15 for sending SMS alerts will be charged.

ICICI Bank which is a private sector lender doesn’t charge any fees for issuing debit cards but for the coral debit cards, Rs 499 as joining and annual maintenance fees are charged. ICICI Bank takes a fee of Rs 25 if there is any decline in the transaction at other bank ATMs due to the insufficient balance in the account. When a new debit card PIN is generated, ICICI Bank charges a fee of 25 rupees. If someone applies for a PIN using “instapin” at its branches then no fee is charged by the bank.

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HDFC Bank doesn’t charge any fees when a new ATM card is issued. If someone loses the ATM card then the person is charged with Rs 200 for the issue of a new ATM card. Maintenance fee of Rs 150 is taken annually for a regular HDFC debit card and for the Platinum debit cards, a person is charged with Rs 750. If someone uses HDFC ATM card at other bank’s ATMs more than five times in a month then a fee of Rs 20 plus GST for each transaction is charged.


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