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Know about Online Current Account Charges and Limits: Cash Deposits and Withdrawals
Posted on Monday, June 3rd, 2024 | By IndusInd Bank
In the ever-evolving landscape, digital current accounts are becoming more accessible and convenient to manage finances. However, current accounts often come with a certain transaction limit to ensure security and prevent frauds to maintain the overall stability of banking operations. Let’s delve deeper into understanding daily transaction limits and how users can navigate them to optimize their banking experience.
Current Account Daily Transaction Limit
The maximum amount of money that can be transacted in a single day including withdrawals, purchases, transfers, and other financial activities through a digital current account is referred to as daily transaction limit. IndusInd Bank Current Account like other banking service providers and financial institutions sets its own limits based on factors such as account type, account activity, and security considerations. Listed below are the daily transaction limits set by IndusInd Bank for three of its prominent current account types.
Indus Tarakki Current Account
| Cash Deposit | |
| Combined Free Cash Deposit Limit (Home + Non Home Locations) | Rs. 5,00,000 |
| Additional Charges on incremental deposits | Rs. 4/1,000 (Minimum Rs. 50/- Per transaction) |
| Cash Withdrawal | |
| Cash Withdrawal (Home Location) | Free |
| Cash Withdrawal (Non-Home Location) | Free |
| Cash Withdrawal (ATM’s) IndusInd Network | Free |
| Cash Withdrawal Other ATMs | Free 50 transactions per month subject to average monthly balance maintenance of Rs.10,000 in previous month. In case the average monthly balance in previous month is less than Rs.10,000, then 5 transactions are free. Cash withdrawal transactions above the specified limits will be charged at Rs. 21 per transaction. |
| Cash Withdrawal Outside India | Rs. 125/- Per Transaction |
| Cash Withdrawal Limit by Debit Card | Refer Standard Schedule of Charges for Debit Card |
Indus Freedom Current Account
| Cash Deposit | |
| Free Limit per month (Home Location) | Free up to Rs. 4 lacs per month |
| Free Limit per month (Non Home Location) | No Free limits |
| Additional Charges on incremental deposits | Rs. 4/1,000 min. Rs. 50 |
| Cash Withdrawal | |
| Cash Withdrawal from Branch / IndusInd Bank ATM | Free |
| Cash Withdrawal Non IndusInd Bank ATMs | Free 50 transactions per month subject to average monthly balance maintenance of Rs.10,000 in previous month. In case the average monthly balance in previous month is less than Rs.10,000, then 5 transactions are free. Cash withdrawal transactions above the specified limits will be charged at Rs. 21 per transaction. |
| Cash Withdrawal Outside India | Rs. 125/- Per Transaction |
| Cash Withdrawal Limit at ATM | Refer Standard Schedule of Charges for Debit Card |
Indus Select Current Account
| Cash Deposit at Home+Non Home Locations | |
| Free Limit per month | 8 times of previous Month’s AMB or Rs. 20 Lacs, whichever is higher |
| Additional Charges | |
| Charges on Additional Deposits | Rs. 4/1000, Min Rs. 50/- Per transaction |
| Cash Withdrawal | |
| Cash Withdrawal Non IndusInd ATMs | Free |
| Cash Withdrawal Limit by Debit Card | Refer Standard Schedule of Charges for Debit Card |
Navigating Daily Transaction Limits
Daily transaction limits are designed with security in mind, particularly for those with higher financial needs. Check your bank’s website, mobile app, or customer service channels for related information. Consider spreading out transactions over multiple days if you anticipate going beyond the daily transaction limit. Make the most of your IndusInd Bank Current Account by staying informed, planning ahead, and optimizing your account usage.
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
