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
|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
|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 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|
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.