About this tool

Bank Charges and Penalty Estimator

Estimate a year of minimum balance penalties, excess ATM fees, return charges and GST on an Indian savings account.

This estimator totals a year of Indian savings account charges: the non-maintenance penalty on your minimum balance shortfall, ATM uses beyond the RBI free allowance, cheque and NACH return charges, debit card and SMS fees, and 18% GST on the lot. It follows the RBI rule that a minimum balance penalty must be a fixed percentage of the shortfall rather than a flat fee, and the free-transaction allowance of five own-bank and three metro or five non-metro other-bank ATM uses a month. The result separates the charges you can eliminate by changing habits from the ones that are baked into the account.

How to use Bank Charges and Penalty Estimator

1. 1

   Open Bank Charges and Penalty Estimator on AltFTool — it loads instantly in your browser.

2. 2

   Enter the values you already know.

3. 3

   Fine-tune the options to match your scenario.

4. 4

   Read the result and use it in your planning or reporting.

Why use Bank Charges and Penalty Estimator

• Uses the RBI shortfall rule

  Charges a percentage of the gap, with your bank's floor and cap, instead of guessing a flat fee.

• Separates avoidable cost

  Shows how much of the year's total disappears if you keep the balance and stay inside the free ATM limits.

• GST included

  Adds the 18% GST that applies to banking services so the figure matches your statement.

Common use cases

• Someone whose balance dipped below ₹10,000 for six months working out whether the accumulated penalty is worth more than the interest they earn on the account.
• A frequent cash user counting ATM visits to see how much the sixth own-bank withdrawal each month costs once ₹23 plus GST is applied twelve times over.
• Comparing a regular savings account against a zero-balance Basic Savings Bank Deposit Account, where no minimum balance penalty can be levied at all.

Frequently asked questions