Axis Bank Basic Savings Account
What is Axis Bank Basic Savings Account?
The Axis Bank Basic Savings Account is a zero-balance savings account designed to meet the basic banking needs of individuals. It offers essential banking services without requiring a minimum balance.
All individuals who are residents of India can open a sole or joint Basic Savings Account. Applicant must not have an existing savings account with Axis Bank.
Bank | Axis Bank |
Category | Basic Savings Account |
Minimum Balance | No minimum balance required |
Interest Rate | 4% on Daily Balance; Paid quarterly |
Card Offered | RuPay Debit Card |
Services Offered with Axis Bank Basic Savings Account:
Internet Banking | Yes |
Mobile Banking | Yes |
SMS Alerts | Yes |
Passbook / e-statements | Yes |
Cash Withdrawal | 4 free withdrawals per month (at Axis Bank ATMs and any other bank ATMs) |
Features of Axis Bank Basic Savings Account:
Access | Over 11,500 Axis Bank ATMs and 2300 Axis Bank branches |
Complimentary Debit Card | RuPay Debit Card with high withdrawal limit of Rs 40,000. |
Easy Tracking of Account Activity | Track account activity easily with monthly e-statements or a passbook. |
Cheque Book Facility | Get one free payable-at-par cheque book per year. |
Fees & Charges of Axis Bank Basic Savings Account:
Charges for cash deposit for value up to Rs 1 lakh | Free |
Charges for deposit beyond Rs 1 lakh | Rs 5 for every Rs 1000 deposited or Rs 150, whichever is higher. |
ATM cash withdrawal beyond free limit | Rs 20 (financial transactions) Rs 8.5 (non-financial transactions) |
NEFT Fees (Branch & Online) | Up to Rs 10,000 – Rs 2.5 per transaction; Rs 10,000 to Rs 1 Lakh – Rs 5 per transaction; Rs 1 Lakh to Rs 2 Lakh – Rs 15 per transaction; above Rs 2 Lakh – Rs 25 per transaction. |
IMPS Fee | Up to Rs.1 Lakh – Rs 5 per transaction; Rs 1 Lakh to Rs.2 Lakh - Rs.15 per transaction. |
Surcharge at petrol pumps | 2.5% on purchase value (minimum Rs 10) |
Card Replacement Fee | Rs 150 |
Additional Cheque Book Fee | Rs 50 per cheque book |
DD/PO cancellation | Rs 100 |
Stop Payment Instructions - Cheque | Rs 100 per cheque |
Locker Fees | Varies depending on size & branch |
Value Added SMS Alerts | Rs 5 per month |
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
FAQs on Axis Bank Basic Savings Account
- Who is eligible to open an Axis Bank Basic Savings Account?
Any Indian resident can open the account, provided they don’t already hold another savings account with Axis Bank.
- Is there a minimum balance requirement for this account?
No, the Axis Bank Basic Savings Account is a zero-balance account with no minimum balance requirement.
- What is the interest rate offered on this account?
Axis Bank offers 4% interest per annum on the daily balance, credited quarterly.
- How many free ATM withdrawals are allowed per month?
You can make up to 4 free cash withdrawals per month from Axis Bank or other bank ATMs.
- Does this account come with a debit card?
Yes, a complimentary RuPay Debit Card is provided with a withdrawal limit of ₹40,000.
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