Savings Account Charges of Top Banks in India

Last Updated : March 18, 2025, 12:20 p.m.

A savings account is, without a doubt, one of the most popular banking products in our country. More than 80% of India’s population has at least one savings account in their name. Both public and private banks provide a savings account facility to customers with which they can save their hard-earned money. Banks also give interest on their money that may vary from one bank to another. For the Savings Account facility, banks ask for different charges from the customers for a few facilities, and for some, there are no charges. These savings account charges tend to differ from one bank to another bank and is something that every individual should know who wants to open a Savings Bank Account .

A savings account provides several benefits and services to the customers. Some of the services are free, like Internet Banking, Mobile Banking, chequebook of Fixed leaves, Monthly email statements, etc, but for some services, banks will ask for specific savings account charges. In this article, we will cover everything about different savings account charges of various banks. This article will help you know all such charges on your savings account. Keep reading to know more!

What are the Different Savings Account Charges of Various Banks?

As we told, banks ask for savings account charges for the services they provide. So what are these services for which customers need to pay? Well, there are several services such as Issuance of Multi-city Cheque Book, Duplicate Passbooks for single/joint account holders, Account closure charges, AMT Interchange transactions, Cash Transaction charges, Value-added SMS Alert Facility, Outstanding Cheque Collection, etc. Banks provide all these and many other services for which customers need to pay. The charges differ from one bank to another. Moreover, it is also possible that on the same service, one bank charges from customers while another bank does not. So, it depends solely on the bank.

We are showing some of these Savings Account charges of various banks. Please have a look.

Issuance of Multi-city Cheque Book Charges

On opening a savings bank account, customers get a chequebook with a fixed number of leaves free of cost. Cheques help customers with services like Bill payments, Money Transfers to someone else’s account, etc. Simply put, a cheque is an essential document that states your bank to pay a specific amount of money from your account to the person in whose name the cheque has been issued. After you have exhausted the free leaves in your chequebook, if you want more leaves, banks will charge a certain amount to issue a Multi-city Cheque Book. It is one of the common savings account charges. We are showing charges by some of the top banks in India to issue a chequebook. Please have a look.

Charges for Non-Maintenance of Minimum Average Balance (MAB)

Banks ask customers to maintain an Average Balance in their Savings Account. For some banks, it can be an Average Monthly Balance (AMB), while a few other banks ask to keep a fixed Quarterly Monthly Balance (QMB) in their savings accounts. This minimum average balance tends to change from one bank to another. You also need to keep in mind that some banks also provide a savings account where you don’t need to keep a minimum average balance (MAB) in your account, and they do not charge anything for non-maintenance.

We are showing the charges for non-maintenance of MAB for some of the top banks in India. Check it out below.

Issuance of Duplicate Passbook

On opening a savings bank account at any bank, you will get a free passbook. A passbook helps you keep track of all the financial transactions made in your account. When we are talking about Savings Account charges, you should know about the charges for the issuance of a Duplicate passbook in case you have misplaced or lost it for some reason. Same as other charges, this charge, too, tends to change from one bank to another. To know the Savings account charges related to the issuance of a Duplicate passbook, you can check the below table. It consists of charges to get a duplicate passbook at some of the top banks in India .

Debit Card Fees

Banks provide Debit Cards to their customers on their Savings Bank account. This ATM-cum Debit card helps customers get a lot of benefits such as Cash Withdrawal, Money Transfer, Shopping, Bill Payments, etc. So among the various Savings account charges, the Debit card fee is among the important ones. Banks charge a certain fee on their debit cards provided to customers. However, that can vary from one bank to another. We are showing the Debit Card Fee of some of the top banks in India in the below table. Check it out!

Cash Transaction Charges

One of the most important features of a Savings Account is the Cash Transaction which includes both deposit and withdrawal of money. In a savings bank account, banks usually put a limit on how many times you deposit or withdraw the money for free. This limit differs from one bank to another. For example, customers having an SBI Savings account can only make five free ATM transactions in a month at SBI ATMs.

On doing any cash transactions above this limit, customers need to pay a charge. This is known as the Cash Transaction charges. Among all the Savings account charges, you should know this so that you are aware of the number of times you can make a free transaction.

We are showing Cash Transaction charges of a few top banks in India. Have a look to know it better.

Account Closure Charges

Account closure charges are one of the significant charges related to Savings account charges. If you want to close your savings account for some reason, banks ask for a fixed charge from the customers. Savings account closure charges vary from one bank to another, and a customer should know about it in case he or she wants to close the account. There is one thing you need to know though, the account closure charges depend on the days since the opening of the account. For example, Bank of Baroda does not charge anything if a customer decides to close his or her Savings Bank Account within 14 days of the first credit into the account.

We are showing Account Closure charges of some of the top banks in India. Please check it out.

SMS Alert Charges

Banks also provide customized SMS Alerts to their Savings Bank Account Holders. For this facility, banks ask for SMS Alert charges from the customers. With this facility, customers get all details about their savings account such as ATM withdrawals, Deposit, etc. Different banks ask different SMS Alert charges from the customers. We are showing charges of a few leading banks in India. Do check.