Hi,
Yesterday I transferred 50K from my ICICI savings account to PPF account , a penalty of 50 Rs was charged. I called up ICICI CSE , they told me that in a given month I can’t transfer more than 49000. Is this true ?. As per my understanding , the deposits in excess of 1 lacs/year will not earn any interest , there is no penalty.
EDIT: bank accepted their mistake , following up with them. This thread can be closed.
Regards,
Anil