ICICI Bank to charge fees for depositing money in ATMs during holidays, non-business hours

ICICI Bank will now impose a Rs 50 charge as convenience fee for cash deposits at ATMs on bank holidays and during non-business hours (6 pm to 8 am).

"Effective November 1, 2020, a convenience fee of Rs 50 per transaction, will be levied on cash deposited in the cash acceptor or recycler machines on bank holidays and between 6:00 pm and 8:00 am on working days," ICICI Bank reportedly said.

The fee will not be applicable to senior citizens, basic savings bank account, Jan Dhan accounts, accounts held by incapacitated and visually impaired persons and student accounts, the lender said.

The bank will also levy a convenience charge If the cash deposit in the cash acceptor/recycler machines is more than Rs 10,000 per month either as a single transaction or multiple transactions.

Earlier, Axis Bank had similarly levied convenience charges for cash deposits during non-business hours,

ICICI Bank on Saturday reported over four-fold jump in consolidated net profit at Rs 4,882 crore for September quarter driven largely by core income growth and lesser provisions for the pandemic-related impact.

In the year-ago quarter, the profit stood at Rs 1,131 crore.

On a standalone basis, the second largest private sector lender's profit after tax jumped to Rs 4,251 crore as against Rs 655 crore in the year-ago period, which is the highest quarterly growth in its history.

(With inputs from PTI)