IndusInd Bank, like many other banks in India, levies a penalty for cheque bounces. The indusind bank cheque bounce charges can vary depending on whether the cheque is deposited or issued by the customer and the reasons behind the bounce. The charges, however start from Rs. 350. Here are more details for you.
What are the Cheque Bounce Charges in Indusind Bank?
For cheques issued by a customer that are returned due to insufficient funds, IndusInd Bank generally charges Rs. 350 per instance. This amount can increase if multiple cheques are bounced within the same month.
Cheque Return (Inward) For Financial Reasons Up to 2 instruments per month - Rs 350 per instrument.
On 3 & 4 instrument - Rs 500 per instrument.
On 5th Instrument onwards - Rs 750 per instrument
If a cheque deposited by a customer gets returned unpaid, a charge of Rs. 100 per cheque is applied. These charges are subject to GST, which further adds to the penalty amount.
The charge for cheque return (outward) IndusInd Bank location is free up to 10 cheque returns beyond which charge of Rs 50 per cheque.
It's important to note that cheque bounces can have legal consequences under the Negotiable Instruments Act, 1881. Repeated instances of cheque bounces can also impact your credit score negatively and may lead to restrictions on your ability to issue cheques in the future.
This is all about IndusInd cheque bounce charges.
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What is IndusInd Bank Cheque Bounce Charges?
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2024-08-30T19:14:58+00:00 2024-09-29T10:46:32+00:00Comment
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