ICICI Bank to Revise Savings Account Cash Transaction Charges From December 1, 2026: Who Will Pay More?

ICICI Bank to Change Savings Account Cash Transaction Charges

ICICI Bank has announced a revision to select cash transaction charges applicable to savings account customers from December 1, 2026. The bank informed customers about the upcoming changes through email.

The revision primarily affects the charges applied when customers exceed the complimentary monthly value limit for cash transactions. The number of free cash deposit and withdrawal transactions will remain unchanged.

Customers who regularly handle large amounts of cash should review the revised fee structure to understand how it may affect their banking expenses.

What Are the New ICICI Bank Cash Transaction Charges?

Under the revised structure, the charge for cash transactions exceeding the complimentary monthly value limit will increase from ₹3.50 to ₹4 per ₹1,000, or ₹150, whichever is higher.

The bank will continue to offer three free cash deposit transactions and three free cash withdrawal transactions every month. The complimentary monthly value limit will also remain at ₹1 lakh each for cash deposits and cash withdrawals.

Here is a comparison of the existing and revised charges:

ParticularsExisting rulesFrom December 1, 2026Free cash deposits3 per month3 per monthFree cash withdrawals3 per month3 per monthComplimentary monthly cash deposit valueUp to ₹1 lakhUp to ₹1 lakhComplimentary monthly cash withdrawal valueUp to ₹1 lakhUp to ₹1 lakhCharge after exceeding the monthly value limit₹3.50 per ₹1,000 or ₹150, whichever is higher₹4 per ₹1,000 or ₹150, whichever is higher

The main change is the increase in the value-based charge. Customers who remain within the applicable free limits will not be affected by this particular revision.

Which Customers Will Have to Pay More?

The revised charges are most relevant to savings account holders who regularly deposit or withdraw large amounts of cash.

Customers may face higher charges if their monthly cash deposits or withdrawals exceed the applicable complimentary value limit of ₹1 lakh. The revised fee structure also applies to transactions covered by the bank's cash transaction rules at branches and cash recycler machines.

For example, a customer who deposits or withdraws cash worth ₹1.38 lakh during a month may incur a charge of ₹152 under the revised value-based calculation, assuming the full amount is subject to that calculation.

Customers should check their transaction history and the applicable account-specific terms to determine how the revised charges may affect them.

How Will the Revised Charges Be Calculated?

The revised value-based charge will be ₹4 for every ₹1,000, subject to a minimum fee of ₹150.

The Economic Times report provides the following examples:

• Monthly transaction value of ₹1.01 lakh: The applicable charge would be ₹150, as the minimum charge is higher than the calculated amount.

• Monthly transaction value of ₹1.38 lakh: The calculated charge would be ₹152, which is higher than the minimum charge of ₹150.

These examples illustrate the revised value-based fee. The actual amount payable will depend on the applicable transaction limits and the bank's rules for the customer's account.

Which Cash Transactions Are Covered?

The revised charges apply to specified cash transactions involving ICICI Bank savings accounts, including:

• Cash deposits at ICICI Bank branches.

• Cash withdrawals at ICICI Bank branches.

• Cash deposits through cash recycler machines.

Customers who use these services frequently should check the bank's applicable schedule of charges before making large cash transactions.

Will Customers Making Small Cash Transactions Be Affected?

Customers who remain within the applicable complimentary transaction and value limits should not see an increase under this particular revision.

However, customers should remember that both the number of transactions and the total monthly cash transaction value matter. Staying within one limit does not necessarily mean that every transaction will be free if another applicable limit has been exceeded.

Customers should therefore review their account category and the relevant fee schedule rather than assuming that the same rules apply to every savings account.

What Should ICICI Bank Customers Do Before December 1?

Customers can take a few simple steps to understand and manage the impact of the revised charges:

1. Review monthly cash transactions: Check the number and total value of cash deposits and withdrawals.

2. Monitor the ₹1 lakh limits: Track cash deposits and withdrawals separately against the applicable complimentary monthly value limits.

3. Check account-specific terms: Different savings account categories may have different schedules of charges.

4. Plan large cash transactions: Where practical, review whether a planned transaction could result in additional fees.

5. Read the bank's official notice: Confirm the applicable conditions directly with ICICI Bank before making a large cash transaction.

The bank's official website provides information on its current service charges and account-specific schedules. Customers can refer to the ICICI Bank Service Charges and Fees page for the relevant details.

Key Takeaways

• ICICI Bank will revise select savings account cash transaction charges from December 1, 2026.

• Customers will continue to receive three free cash deposits and three free cash withdrawals per month.

• The complimentary monthly value limit remains ₹1 lakh each for deposits and withdrawals.

• The value-based charge will rise from ₹3.50 to ₹4 per ₹1,000, or ₹150, whichever is higher.

• Customers making large or frequent cash transactions are more likely to be affected.

• Customers who stay within the applicable complimentary limits should not be affected by this particular increase.