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 |
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| 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.
