Banks now are not only open on weekdays (Monday to Friday) but also on Saturdays. As per a Reserve Bank of India August 2015 press release, with effect from September 1st 2015, all scheduled and non-scheduled banks have to observe public holiday on second (2nd) and fourth (4th) Saturday of the month and full working days on Saturdays other than second and fourth Saturdays (i.e. 1st, 3rd and 5th Saturday of the month). The 1st, 3rd and 5th Saturday of the month are also referred as working Saturdays.
Bank Timing on Saturdays
The business hours followed at a bank depends on a lot of factors such as the generic rules set by the bank, branch of the bank, the branch’s location, the branch’s customers, the type of services the branch offers, the rules set out by the Reserve Bank of India and the rules set out by the state and the central government etc.
Although, a bank tends to follow the same timings in all its branches, many a times some of its branches follow a different set of business hours, mainly due to one of the reasons listed above. More so, most of the banks follow the same set of business hour timings for uniformity across the chart however there can easily be a +/- 1 hour difference in the business timings of different banks. Let’s go through the business timings of a few major banks to get an idea-
|S. No.||Bank Name||Generic Timings* (Monday-Friday)||Generic Timings* (1st, 3rd, 5th Saturday)|
|1.||State Bank of India||10 A.M. – 4 P.M.||10 A.M. – 4 P.M.|
|2.||Bank of Baroda||9.45 A.M. – 4:45 P.M. / 10 A.M. – 5 P.M.||9.45 A.M. – 4:45 P.M. / 10 A.M. – 5 P.M.|
|3.||Bank of India||10 A.M. – 4 P.M.||10 A.M. – 4 P.M.|
|4.||Punjab National Bank||10 A.M. – 4:30 P.M.||10 A.M. – 4:30 P.M.|
|5.||Canara Bank||10 A.M. – 3:30 P.M.||10 A.M. – 3:30 P.M.|
|6.||ICICI Bank||9:30 A.M. – 4:30 P.M.||9:30 A.M. – 4:30 P.M.|
|7.||HDFC Bank||9:30 A.M. – 3:30 P.M.||9:30 A.M. – 3:30 P.M.|
|8.||Axis Bank||9:30 A.M. – 3:30 P.M.||9:30 A.M. – 3:30 P.M.|
|9.||Yes Bank||9:30 A.M. – 4:30 P.M.||9:30 A.M. – 4:30 P.M.|
|10.||Kotak Mahindra Bank||9:30 A.M. – 4:30 P.M.||9:30 A.M. – 4:30 P.M.|
*Banks will be closed on the holidays as per their calendar. The bank timings listed above are generic and are subjected to change.
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What banking services are not available on bank off-days and holidays?
On the bank’s off-days and holidays, you can’t access these bank services:
- National Electronic Funds Transfer (NEFT) services
- Real Time Gross-Settlement (RTGS) services
- Any physical banking service such as updating passbook, getting forex from the bank, depositing or retrieving cash, visiting your bank locker etc.
What banking services are available even on bank off-days and holidays?
Bank services listed below are available even on their off-days and/or holidays:-
- Immediate Payment Service (IMPS)
- Unified Payments Interface (UPI)
- Access to Net-banking and Mobile-banking
- ATM Services
- Cheque Drop facility at ATM/other Cheque Drop-boxes
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Frequently Asked Questions
Q. On which Saturday the banks are closed in a month?
All private and public sector banks in India remain closed on the second and fourth Saturday of every month. Besides this, if a national holiday falls on first, third, or fifth Saturday, the banks remain closed on the same.
Q. Who finalises the bank holidays? Are these applicable to all different kinds of banks?
The Reserve Bank of India (RBI) finalises the bank holidays. The list of national holidays applies to all different kinds of banks. However, there are some regional holidays which may differ from banks in one state to another.
Q. How can I access banking services on a holiday, if there is an emergency?
You can access banking services 24×7, even on bank holidays, via the internet or mobile banking. Both these channels are available for the users who have registered for the same at the bank.
Q. Are the ATMs open on bank holidays?
Yes, ATMs remain open even on bank holidays.