Federal Bank has announced a major change in its service charges and fees from June 1, 2025. These changes will directly affect the banking expenses of the customers. Under these changes, additional charges will now be levied on services like cash transactions, ATM usage, not maintaining minimum balance and closing the account.
Under the new rules, now 5 free cash transactions (withdrawal and deposit) will be given every month or a total amount of up to Rs 5 lakh can be transacted, whichever is completed first.
These are the new rules
Cash transaction charge
Only 5 cash transactions or up to Rs 5 lakh free every month. Above this, an additional charge will be levied for every ₹ 1,000.
Penalty for not maintaining minimum balance
Federal Bank savings account customers have to maintain a fixed average minimum balance (AMB). If customers do not maintain it, they have to pay additional charges. This charge depends on how low the balance is and the scheme the account belongs to.
In Club Scheme, Daylight Scheme, Scheme for NRIs and Normal Savings Account, customers have to maintain an average minimum balance of at least Rs 5,000. For normal customers, if there is a shortfall of up to 20% in AMB, then a fee of Rs 75 will be charged. If the shortfall is 100% (i.e. the balance is completely low), then the fee can increase to Rs 375.
This charge is slightly less for senior citizens. Depending on their shortfall, the charge can be from Rs 60 to Rs 300. The charge is also slightly less for accounts in rural branches. General customers will have to pay a fee of Rs 60 to Rs 300, while senior citizens will be charged from Rs 50 to Rs 250. This means that if you do not maintain the balance set for your account, you may have to pay an additional charge.
ATM transactions are expensive
₹23 for cash withdrawal from other bank’s ATM and ₹12 for balance check or mini statement. ₹25 charge for unsuccessful withdrawal.
heck return charge
₹400 for rural accounts and senior citizens, ₹500 for other accounts per unsuccessful cheque.
Account closure charge
₹100 for closing within 6 months, up to ₹300 between 6 to 12 months. No charge for closing within 14 days.
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