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Axis Bank Small Basic Savings Account

Opening a savings account is the easiest way to earn a minimum interest on money that you have and also withdraw it whenever you want to. Axis Bank Small Basic Savings Account is a no-frills account and has minimal documentation requirements.

Highlights of Axis Bank Small Basic Savings Account

Bank Axis Bank
Category Small Basic Savings Account
Minimum Balance Required No minimum balance requirement
Interest Rate 4% on daily balances, paid quarterly
Card Offered RuPay debit card with no annual/issuance fee

Services Offered with Axis Bank Small Basic Savings Account

SMS Alerts Yes
Monthly e-Statements Yes
Passbook and Chequebook Yes
Personal Accident Cover Offered when using your card at ATM or POS at least once in every 45 days

Eligibility and Documentation for Axis Bank Small Basic Savings Account

Eligibility Applicant should be a resident of India
Documentation
  • Photo identity Proof
  • Address Proof
  • Two latest passport size photographs
  • Hindu Undivided Family accounts need a documentation of a copy of PAN, Form 60 of HUF, Declaration from the Karta, Proof of ID and address of Karta, prescribed Joint Hindu Family Letter
Documentation for Joint Accounts You will have to provide ID proof for both the applicants and address proof for the first account holder if relationship between both the holders are established.

Fees and Charges Of Axis Bank Small Basic Savings Account

Free ATM Transactions 4 free withdrawal transactions from Axis Bank and other ATMs
Charges beyond free limit Rs.20 for financial transaction and Rs.8.5 for non-financial transaction
Additional branch cash withdrawal transaction Rs.5 for Rs.1000 or Rs.150, whichever is higher
Cash Deposit Transaction costs Free cash deposit for up to a deposit value of Rs.1 lakh per month After this limit, Rs.5 for every Rs.1000 or Rs.150, whichever is higher
Aggregate of all transfers and withdrawals per months Should not exceed Rs.10,000
Balance at any point of time Should be not more than Rs.50,000

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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