ICICI Bank has decided to increase some cash transaction charges for savings accounts effective December 1, 2026. Let's explore the three free transactions, the ₹1 lakh limit, and the new charge rules.

Cash transaction charges: Depositing cash will be expensive

If you have a savings account with ICICI Bank and frequently deposit or withdraw cash, this news is useful. The bank has decided to revise the charges levied on certain cash transactions related to savings accounts. The new rules will take effect on December 1, 2026.

Bank customers will still receive three free cash deposit and withdrawal transactions each month. However, if you exceed the set free limit, you may incur higher charges. The cash transaction fee has been increased from ₹3.50 per ₹1,000 to ₹4. This charge applies only when the monthly free limit is exceeded.

What's going to change from December 1st?
ICICI Bank has informed customers via email about changes to charges for certain cash transactions in savings accounts. The new rules don't change the number of free transactions, but the charges for depositing or withdrawing cash above the specified amount will increase.

How much will you have to pay after three times?
Suppose you go to the bank every month to deposit cash. If you stay within the prescribed free limit, you won't have to pay any extra charges on these transactions. However, if the monthly cash deposit exceeds ₹1 lakh, the remaining amount will be charged accordingly. Under the new rules, the bank will charge ₹4 or ₹50 per ₹1,000, whichever is higher.

For example, if the total monthly cash deposit is ₹1.01 lakh, the charge will be ₹150. However, if the amount is ₹1.38 lakh, the charge will be ₹152, calculated at ₹4 per ₹1,000.

What if I deposit cash more than 3 times?

If you deposit or withdraw cash more than three times a month, a charge of ₹150 per transaction may apply. Furthermore, if the total monthly cash balance exceeds ₹1 lakh, separate charges apply.