If you have a savings account with ICICI Bank, you may have to pay more for certain banking services starting from the beginning of December. Effective December 1, 2026, the bank is revising some of the service charges applicable to savings accounts. This will primarily affect customers who frequently deposit or withdraw cash at bank branches or through cash recycler machines. Additionally, those who have automated payments—such as loan EMIs—deducted from their accounts should also take note.

However, this does not mean that every cash transaction will now incur a charge. The bank continues to offer a certain number of free transactions each month; however, exceeding these set limits may result in higher charges than before. Furthermore, a penalty will be imposed if an automated payment fails due to an insufficient account balance. It is, therefore, important for customers to familiarize themselves with these updated charges to avoid unnecessary banking expenses.

Cash deposits and withdrawals to become more expensive
Under ICICI Bank’s new fee structure, the value-based charges for depositing or withdrawing cash at a branch or via a cash recycler machine will increase. The current charge of ₹3.50 per ₹1,000 will be raised to ₹4.00. Please note that this charge will only apply once a customer exceeds their monthly free transaction limit.

Current Charges | Effective from December 1, 2026
Free Cash Deposit Transactions | 3 times per month | 3 times per month
Free Cash Withdrawal Transactions | 3 times per month | 3 times per month
Complimentary Monthly Cash Deposit Value | Up to ₹1 lakh | Up to ₹1 lakh
Complimentary Monthly Cash Withdrawal Value | Up to ₹1 lakh | Up to ₹1 lakh

The bank will continue to provide three free cash transactions per month. Beyond this, each additional transaction will attract a charge of ₹150. Furthermore, cash transactions of up to ₹1 lakh per month will not be subject to value-based charges. For cash deposits or withdrawals exceeding this limit, a charge of ₹4 per ₹1,000—or ₹150, whichever is higher—will be levied. If a customer exceeds both the limit on the number of free monthly transactions and the total cash amount limit, the higher of the two applicable charges will be imposed.

Penalty for failed EMIs or auto-debits

The bank has also revised the return charges for automatic payments made via ECS (Electronic Clearing Service) and NACH (National Automated Clearing House). Typically, loan EMIs, insurance premiums, and other recurring payments are automatically deducted from an account through these channels. If there are insufficient funds in the account on the due date and the transaction fails, the bank levies a penalty.

Effective December 1, a charge of ₹500 will be applied for the first failed payment. For subsequent failures (second and third instances) under the same mandate, a charge of ₹550 will be levied each time. This charge can be applied a maximum of three times per month for any single mandate. Therefore, customers with recurring monthly payments—such as EMIs or other automated debits—should ensure sufficient funds are available in their accounts before the due date to avoid these additional penalties.

What about Jan Dhan and Basic Savings Accounts?
Customers holding accounts under the Pradhan Mantri Jan Dhan Yojana or Basic Savings Bank Deposit Accounts (BSBDA) will continue to enjoy exemptions regarding cash transactions; there will be no charges for cash deposits or withdrawals for these accounts. However, holders of such accounts may still be subject to the new penalties in the event of failed payments via ECS or NACH. In other words, having a Basic or Jan Dhan account does not grant an exemption from all types of banking charges. Before the new charges come into effect, customers should familiarize themselves with the category of their savings account and the associated charges. A list of service charges for various types of accounts is available on the official ICICI Bank website. If needed, customers can also obtain this information by visiting a bank branch or contacting customer care.

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