Personal Finance - MAB Charges - ICICI Bank Savings Account Charges in IPO's & MF's - ICICI Bank is now charging insanely high penalty charges for "Minimum Account Balance" (MAB Charges).
If you do not maintain ...
11-17-2012 07:11 PM
MAB Charges - ICICI Bank Savings Account Charges
ICICI Bank is now charging insanely high penalty charges for "Minimum Account Balance" (MAB Charges).
If you do not maintain minimum account balance of 10,000 Rupees, the penalty charges are 393 Rupees per month (350 Rs + Taxes). That amounts to 4700 Rupees a year in just penalty. I think ICICI are the heaviest penalty charges among all Indian Banks
Earlier ICICI used to charge Rs 750 every quarter, if the average balance maintained is less than 10,000 Rs. And they used to be lenient in charging the penalty. With the time frame now brought down to a month, it now becomes increasingly more possible to charge more customers. 09/11/2012 - MABChgs-Oct12 +STax 43.2 - DR - INR - 393.26
If you have ICICI Bank account, maintain minimum balance, Else close your savings account and move over to SBI ...
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