POSTED BY April 4, 2014 8:16 pm COMMENTS (5)
ONHi,
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
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You cannot deposit more than 1 lakh in PPF.
Did the bank revert the charges?
The bank reverted the penalty charges . If you deposit amount exceeding 1 lacs , the excess amount will not earn any interest.
Dear Anil, thanks for the update.
Thanks
Ashal
Hi Ashal,
The issue is resolved 🙂 . I am happy with the quick resolution done by ICICI bank.
Regards,
Anil
Dear Anil, keep us updated. 🙂
Thanks
Ashal