HDFC New Rule- Big news for HDFC Bank account holders. The country’s top private lender HDFC Bank has reduced many service charges and increased some for its millions of customers. The bank says that these changes have been made to improve and streamline customer services, but it also means that you have to be more careful than before for cash transactions, check books and branch-based transfers. This bank with a market cap of Rs 15.26 lakh crore has updated its customer-related policy with these new rules.

Change in cash transaction limit

Earlier, cash deposit or withdrawal of up to Rs 2 lakh per month was free, now this limit has been reduced to Rs 1 lakh. After this limit, Rs 5 will be charged for every Rs 1,000 or part thereof, the minimum charge will be Rs 150. Only 4 free cash transactions will be available in a month, after that Rs 150 will have to be paid on every transaction. The daily limit for third-party cash transactions is Rs 25,000, transactions above this will not be allowed.

Fees for small amounts on IMPS transfers have been reduced. Online IMPS transfers up to Rs 1,000 will now cost Rs 2.5 for regular customers and Rs 2.25 for senior citizens. Transfers above Rs 1 lakh can now be done for Rs 13.5 (earlier Rs 15).

New rates for NEFT branch transactions as well

For transfers up to Rs 10,000, regular customers will be charged Rs 2, senior citizens Rs 1.8. Between Rs 1 lakh and Rs 2 lakh, Rs 14 (regular) and Rs 12.6 (senior citizens) will be charged. For more than 2 lakh, Rs 24 and Rs 21.6 respectively.

Cheque book is now more expensive than before

Now savings account holders will get only 1 free cheque book of 10 pages in a year, whereas earlier cheque books of 25 pages were free. For additional cheque books, one will have to pay Rs 4 per page. These rates have been kept slightly lower for senior citizens.

How to avoid these extra charges?

If you are a HDFC Bank customer, you can easily avoid extra fees by adopting some smart habits after these changed rules. Here are some easy and effective solutions.

1. Prefer digital transactions: Digital transfers of IMPS and NEFT are now cheaper than branch transactions. Sending money using mobile apps or netbanking will not only save time but will also reduce charges.

2. Adopt UPI and QR: UPI and QR code scanning is the best way to make small or frequent payments. It is completely free and available 24×7. It is easy to send money to shops, friends, tenants – everyone.

3. Plan your cash transactions: At the beginning of each month, decide how much cash you need to withdraw. Avoid visiting the branch more than necessary to withdraw money. If possible, withdraw the entire amount in just one or two times.

4. Avoid third-party cash deposits: Third-party cash transactions of more than Rs 25,000 will no longer be possible. So try to deposit or withdraw as much as possible yourself or use digital means.

5. Use cheque book wisely: Now only 10 pages of cheque book will be available free every year, so use cheque wisely. Wherever UPI or transfer is possible, use digital option instead of cheque.

6. Special benefits for senior citizens: If you or someone in your house is a senior citizen, then the bank offers them many facilities with low fees. Keep their account active and take full advantage of these discounts.