Transparent Banking Charges
At Harco Bank, we believe in clear and simple understanding of your account services and associated fees.
SMS Alert Charges
Stay informed with real-time updates on your transactions.
- Transaction-based Charging: Calculated` based on actual debit/credit transaction alerts sent.
- Cost per SMS: Each SMS alert charged at ₹ 0.25 + GST.
- Quarterly Deduction: Aggregated charges for all SMS alerts sent over the quarter will be applied at quarter end.
- Example: For 21 alerts/quarter, total charges: ₹ 0.25 x 21 = ₹ 5.25 + applicable GST.
- Exemption Criteria: No charges if fewer than 4 debit/credit transactions in a quarter.
- Scope: Applicable to all products/accounts under our Service Charges Policy.
- Minimum Transaction Value: Charges levied only for transactions of ₹ 100 and above.
ATM Transaction Charges
Fees associated with ATM withdrawals and other services.
- Harco Bank ATMs: 5 free transactions per month.
- Other Bank ATMs: 3 free transactions per month.
- Beyond Free Limits: ₹ 21 + GST per financial transaction.
- Non-Financial Transactions: ₹ 8 + GST (e.g., balance inquiry, mini statement) after free limits.
- Cash Deposit: ₹ 50 + GST per transaction at select ATMs.
Minimum Balance Charges
Charges applicable for not maintaining the required average balance.
- Savings Account (Urban/Metro): Average Monthly Balance (AMB) ₹ 1,000
- Savings Account (Staff): Average Monthly Balance (AMB) ₹ 500.
- Current Account: Average Quarterly Balance (AQB) ₹ 10,000.
- Charges (Savings): ₹ 150 - ₹ 300 + GST based on shortfall.
- Charges (Current): ₹ 300 - ₹ 600 + GST based on shortfall.
- Waiver: Exempt for certain account types (e.g., Basic Savings Bank Deposit Account).
Service Charges and Fees
For detailed information on various service charges and fees, please download our comprehensive PDF document.
Locker Charges and Fees
A. Locker Rent:
| Sr. No. | Category & Size of Locker | Revised Annual Rent (GST extra) |
|---|---|---|
| 1 | A (800 Sq”) | 1,500.00 |
| 2 | B (1000 Sq”) | 1,800.00 |
| 3 | C (1200 Sq”) | 2,000.00 |
| 4 | D (1400 Sq”) | 2,500.00 |
| 5 | E (2000 Sq”) | 3,000.00 |
| 6 | F (3000 Sq”) | 4,000.00 |
| 7 | G (4000 Sq”) | 7,000.00 |
| 8 | H (Above 4000 Sq”) | 9,000.00 |
B. Onetime Locker Registration:
Rs.500/- plus GST
C. Free operations:
Every customer who owns a locker gets the option to open their locker 24 times in a financial year, post which lessee(s) will be levied charges of Rs.100/- plus GST (as applicable) per visit.
D. Rent Delayed Charges:
Q-1 = 10% of rent
Q-2 = 20% of rent
Q-3 = 30% of rent
Q-4 = 40% of rent
E. Staff Concession
- 50% concession in the rent on only one small size locker (Category-A)
- Onetime Locker Registration Fee = NIL
- Incidental charges on Break-open = NIL
- Locker operation = No Limit
F. Free Locker Facility:
Free Locker facilities shall be applicable to the customers having average monthly balance of Rs.2.00 lakh in SB A/c throughout the financial year only for small size locker (Category –A).
G. Security on Locker Rent:
Besides, Locker rent and other charges branches has to enforce the security to ensure prompt payment of locker rent in the form of Term Deposit covering three years’ rent and the charges for breaking open the locker at the time of allotment of new locker in pursuance to latest guidelines issued by RBI on 18.08.2021.