As a customer, you use several banking services, offline and online. Some of these services are free, others are chargeable. Typically, banks mainly offer free services to their existing customers, such as free ATM cards, checkbooks, and online services. However, some services are chargeable and some require a fee if you exceed a certain threshold. Before availing the banking services, you must know the fees as they are readily available on the respective bank’s website.

Often service fees are nominal and only charged when the user exceeds a certain limit for free services. For example, if your bank balance falls below the minimum balance limit, you must pay a fee. Similarly, the number of free ATM withdrawals may be capped and fees may apply after the cap. Other common fees include annual debit card fees, checkbook issuance or bounce fees, and payment transfer fees.

Cash withdrawals and deposits may also incur nominal fees depending on the amount. Home banking services such as cash delivery etc. are also chargeable. If you are applying for a loan, there will normally be processing fees and documentation fees.

Read also: Home loan balance transfer: when should you opt for it?

Adhil Shetty, CEO of, said, “Banks are also providing customers with information on all fees applicable to basic services and any proposed fee changes in a timely manner. They have also posted fee information on their official websites and mobile apps. Fees can vary from bank to bank and are generally not uniform from bank to bank, as they depend on the type of bank account you have. Banks may also provide free services and fee waivers to preferred customers with strong relationships with the financial institution.

When applying for a home loan, banks or other financial institutions may charge you application fees, processing fees, and legal fees, depending on your needs and the lender. You may also have to pay other fees when you need duplicate copies of certain documents you submitted to banks to borrow money. There may also be loan foreclosure fees if the loan is at a fixed interest rate.

Other fees such as using a locker and payments outside your country via your debit cards may also apply. Banks also charge you a fee when you want to create a draft at sight (DD) or need a checkbook with more pages than standard.