Cheque Bounce Penalty Charges levied by different Banks in Indore

Cheque Bounce Penalty Charges levied by different Banks in Indore

Cheque Bounce Penalty Charges levied by different Banks in Indore:

Cheque bounce penalties can vary depending on the bank and the amount involved. Here’s a detailed overview of charges levied by some major banks in Indore:

Public Sector Banks:

• State Bank of India (SBI):
  • Up to Rs. 100,000: Rs. 100 per cheque
  • Rs. 100,001 – Rs. 250,000: Rs. 200 per cheque
  • Rs. 250,001 – Rs. 500,000: Rs. 300 per cheque
  • Above Rs. 500,000: Rs. 500 per cheque
• Bank of Baroda:
  • Up to Rs. 50,000: Rs. 100 per cheque
  • Rs. 50,001 – Rs. 1,00,000: Rs. 200 per cheque
  • Rs. 1,00,001 – Rs. 2,00,000: Rs. 300 per cheque
  • Above Rs. 2,00,000: Rs. 500 per cheque
• Canara Bank:
  • Up to Rs. 10,000: Rs. 100 per cheque
  • Rs. 10,001 – Rs. 25,000: Rs. 150 per cheque
  • Rs. 25,001 – Rs. 50,000: Rs. 200 per cheque
  • Rs. 50,001 – Rs. 1,00,000: Rs. 300 per cheque
  • Above Rs. 1,00,000: Rs. 500 per cheque

Private Sector Banks:

• ICICI Bank:
  • Up to Rs. 25,000: Rs. 150 per cheque
  • Rs. 25,001 – Rs. 50,000: Rs. 300 per cheque
  • Rs. 50,001 – Rs. 1,00,000: Rs. 500 per cheque
  • Above Rs. 1,00,000: Rs. 1,000 per cheque
• HDFC Bank:
  • Up to Rs. 25,000: Rs. 100 per cheque
  • Rs. 25,001 – Rs. 50,000: Rs. 200 per cheque
  • Rs. 50,001 – Rs. 1,00,000: Rs. 300 per cheque
  • Rs. 1,00,001 – Rs. 3,00,000: Rs. 500 per cheque
  • Above Rs. 3,00,000: Rs. 1,000 per cheque
• Axis Bank:
  • Up to Rs. 50,000: Rs. 150 per cheque
  • Rs. 50,001 – Rs. 1,00,000: Rs. 300 per cheque
  • Rs. 1,00,001 – Rs. 2,00,000: Rs. 500 per cheque
  • Above Rs. 2,00,000: Rs. 1,000 per cheque

Additional Charges:

• Besides the base penalty, banks may levy additional charges like:
  • Account maintenance fee restrictions
  • Stop payment charges (if applicable)
  • Legal fees incurred by the payee

Important Points:

• These are indicative charges and may vary slightly depending on specific bank policies and account type.
• Charges are subject to change; it’s recommended to confirm the latest rates with your bank directly.
• Clearing charges may also apply depending on the bank and location of the payee.

Always remember to:

• Maintain sufficient funds in your account to avoid cheque bounce.
• Inform the bank in case of any stop payment instructions.
• Clear outstanding dues promptly to avoid further penalties and legal action.

I hope this information helps!

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Adcocate J.S. Rohilla (Civil & Criminal Lawyer in Indore)

Contact: 88271 22304

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