Like every other bank, Bandhan Bank also has a schedule of service charges for the various financial and non-financial services provided by the Bank. Gaining knowledge about the various Bandhan Bank Charges will help you to handle your finances in a disciplined manner. This will reduce the expenses to a large extent whether you are an individual or a business entity.
What are Bank Charges?
Banks provide us with various financial and non-financial services. Each bank has a schedule of charges for the various services delivered by them. It could be the issuance of cheque books, transactions through NEFT/RTGS/IMPS, ATM transactions, card issue charges, credit card/debit card charges, etc. These charges will be collected from the account maintained with the bank. A close look at your account statement will give you an idea of all the charges that have been levied. You can work on how to reduce these expenses by working within the conditions laid down by each bank to avoid such charges. Take action from today and keep your finances fit for a bright financial future.
About Bandhan Bank
Bandhan Bank is a private sector Bank that focuses on serving underprivileged sections of society. It has a strong presence in both rural and urban areas. The Bank offers a wide range of financial products and services for both the retail and corporate sectors. Bandhan Bank is known for its customer-centric approach and inclusive banking solutions.
Different Types of Bandhan Bank Charges
The different types of Bandhan Bank Charges are discussed below.
Account Maintenance Charges
A nominal fee is collected by the bank for maintaining your account. The operational costs incurred by the Bank to maintain your account is collected from your account.
Minimum Balance Charges
Bandhan Bank Minimum Balance Charges pertain to the non-maintenance of the minimum balance stipulated at the time of opening the account. The initial deposit stipulated while opening an account will be the balance you will have to maintain throughout. Violation of this condition attracts a penalty by way of Bandhan Bank Minimum Balance Charges.
Transaction Charges
The Bank levies charges for conducting transactions through various channels like NEFT/RTGS/IMPS. The charges are only for outward transactions whereas the inward transactions are free.
ATM Charges
Bandhan Bank allows unlimited free transactions if conducted through ATMs within the Bank’s network. Bandhan Bank ATM Withdrawal Charges are applicable for transactions conducted at other ATMs beyond the free limit.
Current Account Charges
Bandhan Bank Current Account Charges are applicable for cheque books issued beyond the free limit, cash transactions done above the free limit, account maintenance charges, etc. A lot of free services are provided for current account holders which the customers can make use of prudently.
Loan Processing Charges
Bandhan Bank has several business loan products for current account customers. Bandhan Bank Charges for processing loan applications in the form of processing charges.
Tips to Avoid Bandhan Bank Charges
Bandhan Bank has provided options for account holders to avoid various charges collected by the bank. Make use of the levy and curtail additional expenses on your account by following the tips given below:
- Always maintain the minimum balance stipulated by the Bank.
- Ensure sufficient balance is available in your account when you issue cheques and on EMI due dates.
- Limit your ATM transactions and use ATMs within the Bank’s network as far as possible.
- Avoid transactions through cheques. Stick to online transactions or transaction modes that do not attract any fee.
- Opt for e-statements.
- In the case of Overdraft Limits or OCC accounts, do not utilise funds beyond the limits permitted.
- Make it a point to pay the entire credit card liability instead of resorting to the minimum payment option.
Bandhan Bank Savings Account Charges
Bandhan Bank has stipulated a minimum deposit into the account at the time of opening a Savings Account. The minimum balance is different for the various savings account options available in the Bank. A minimum balance to the extent of the initial deposit should always be available in the account. The Bandhan Bank Charges List for the Savings Account is given below:
Savings Account | Elite | Premium | Advantage | Standard | GB & MB Sanchay |
MAB (Monthly Average Balance) | 1. SB A/c(MAB) – ₹5lakh OR 2. FD – ₹25 lakh OR 3. Total Relationship Value (SB Bal. ₹2 + FD) – ₹15 lakh (Min SB Bal-₹2 lakh + FD Bal) | ₹1,00,000 | ₹ 25,000 | ₹5,000 | ₹2,000 |
MAB Penal Charges | NIL | NIL | NIL | NIL | NIL |
Downgrade- MAB Non- Maintenance | Downgrade to appropriate scheme | Downgrade to appropriate scheme | Downgrade to appropriate scheme | NA | NA |
Free Cash Deposit limit per month | Unlimited | ₹20,00,000/- | ₹10,00,000 | ₹5,00,000 | ₹2,00,000 |
RTGS-NEFT (Branch)-IMPS- DD | Unlimited | 25 Free Transactions | 10 Free Transactions | 2 Free Transactions | 2 Free Transactions |
NEFT (Internet Banking and mBandhan) | No Charges | No Charges | No Charges | No Charges | No Charges |
Cheque Leaves | Unlimited | 100 Chq Leaves | 40 Chq Leaves | 20 Chq Leaves | 20 Chq Leaves** |
Debit Card Issuance Charges | No Charges | No Charges for Visa Platinum | No Charges for Visa Platinum | No Charges for RuPay Classic | No Charges for RuPay Classic |
Debit Card AMC | No Charges | No Charges for Visa Platinum | AMC (Free for 1st year. Applicable for 2nd year onwards) | AMC (Free for 1st year. Applicable for 2nd year onwards) | AMC (Free for 1st year. Applicable for 2nd year onwards) |
Bandhan ATM – Transaction | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
Other ATM – Free Transaction | Unlimited | 25 | 10 | 5 | 5 |
Pass Book | Free | Free | Free | Free | Free |
Email Statement | Free | Free | Free | Free | Free |
Annual Consolidated Statement | Free | Free | NA | NA | NA |
SMS Alert | Free | Free | Free | Free | Free |
Bandhan Bank ATM Withdrawal Charges
The Bandhan Bank ATM Withdrawal Charges depends on the category of Debit Card you hold. The number of free transactions at ATMs within Banks’s network is unlimited. For using the debit card at ATMs other than Bandhan Bank ATM the charges beyond the limit vary with the type of debit card you hold. Whereas for others it is 5 free transactions. The chargers are different for domestic transactions and overseas transactions. The Bandhan Bank Charges list for ATM withdrawals is given below
For Domestic Transactions
Type of Card | Charges For Transactions Beyond Limit (Amount in Rs.) |
Master-Card Platinum | Financial Transaction-20 + GST Non-Financial Transaction-10 + GST |
Visa-Platinum | Financial Transaction-20 + GST Non-Financial Transaction-10 + GST |
Visa Classic | Financial Transaction-20 + GST Non-Financial Transaction-10 + GST |
Rupay | Financial Transaction-20 + GST Non-Financial Transaction-10 + GST |
For Overseas Transactions
Type of Card | Charges Per Instance (Amount in Rs.) |
Master-Card Platinum | Nil |
Visa-Platinum | Financial Transaction-125+ GST Non-Financial Transaction-25 + GST |
Visa Classic | Financial Transaction-125+ GST Non-Financial Transaction-25 + GST |
Rupay | Not Applicable |
Bandhan Bank Locker Charges
The Bandhan Bank Charges for lockers is the annual rent collected for providing safe custody of valuable articles and documents of the customer. The Bandhan Bank Locker Charges list is given below:
Locker Size | Rent (Amount in Rs.) |
Small | 3000 + GST |
Medium | 6000 + GST |
Large | 9000 + GST |
Bandhan Bank NEFT Charges for 2023
Bandhan Bank Charges for funds transfers through NEFT are linked to the amount of the transaction. The bank does not collect charges for inward remittance through NEFT. The list of Bandhan Bank NEFT Charges is given below
Transaction Amount Range (Amount in Rs.) | Charges (Amount in Rs.) |
Up to 10000 | 2 + GST |
10001 to 100000 | 4 + GST |
1000001 and above | 14 + GST |
Bandhan Bank RTGS Charges for 2023
RTGS transactions are applicable for funds transfers of Rs. 2.00 lacs and above. The Bank does not collect charges for the collection of funds into your account through RTGS. However, Bandhan Bank Charges are applicable for sending out funds through RTGS. The Bandhan Bank RTGS Charges for 2023 are given below:
Amount Range (In Rs.) | Charges(Amount in Rs.) |
2.00 lacs to .5.00 lacs | 14 + GST per transaction |
Above 5.00 lacs | 39 + GST per transaction |
Bandhan Bank IMPS Charges for 2023
Immediate Payment Service (IMPS) is a quick electronic mode of money transfer from one account to another. This system provides round-the-clock interbank money transfer all through the year. The Bandhan Bank IMPS charges for 2023 are given below:
Amount Range (In Rs.) | Charges (In Rs.) |
Up to 1.00 lac | 5 + GST per transaction |
Above 1.00 lac to 2.00 lac | 15 + GST per transaction |
Bandhan Bank Charges : FAQs
Yes. Bandhan Bank Charges are applicable for cash transactions beyond the free limit stipulated. The charges would be Rs. 2.50 for every Rs. 1000/- with a minimum of Rs. 20/- for every transaction.
The ECS return charges are Rs. 200 per instance.
Yes. Bandhan Bank Charges Rs. 100/- for the issuance of a duplicate passbook with 40 entries.
Yes. Bandhan Bank provides free monthly statements. The number of free monthly statements is linked to the account type.
Bandhan Bank provides free cheque books to some extent depending on the product variant. For additional cheque books the Bandhan Bank charges will be Rs. 2/- per cheque leaf.
Yes. Bandhan bank charges certain amount for processing loans.