IDBI Bank has decided to waive charges on Current and Savings Accounts as a measure to further strengthen the Bank's bonds with its customers. This was announced by Shri R. M. Malla, Chairman and Managing Director, IDBI Bank at IDBI Bank Head Office. Mr Malla took over as Chairman of IDBI Bank less than two months back.
The bank has taken a major strategic initiative to strengthen our bond with our customers, existing and new. Each customer that the bank have, existing and future, inside and outside this room, is more valuable than money. Each person who could be our customer is more valuable than money. The bank has taken a bold step which no bank has taken yet – to do banking without banking charges. Its free, it’s the first in the banking sector and its for everybody.
This will apply to our savings and current account services, starting September 1, 2010. Any account holder, who walks into the bank and asks for a demand draft, will get it without a charge. Any account holder can do an Electronic Fund Transfer, without a charge. No account holder will have to worry about keeping a minimum balance in his or her account. There are many more.
The bank wanted to say that everyone out there are important, they are precious and invited – to be a part of this new world.
List of charges that have been removed:
- AVERAGE BALANCE CHARGES
- ACCOUNT CLOSURE CHARGES
- ATM INTER CHANGE FEE
- ISSUANCE
- CARDFEE NEW - MASTER
- CARDFEE NEW - VISA
- CASH SERVICES CHARGES
- CHEQUE BOOK CHARGES
- DD CHARGES
- ECS CHARGES
- EFT CHARGES
- NEW CARD ISSUE
- OUTSTATION CHEQUE COLLECTION
- PO CHARGES
- ACCOUNT STATEMENT CHARGES
- STANDING INSTRUCTIONS CHARGES
- STOP PAYMENT CHARGES
- OUTWARD CHARGES
- MICR CHEQUE CHARGES
- DD CANCELLATION CHARGES
- DD ISSUE CHARGES
