Axis Bank Easy Access Salary Account
Overview:
Bank | Axis Bank |
Category | Salary Account (Easy Access Salary Account) |
Minimum Balance Requirements | Zero |
Initial Deposit Requirements | Zero |
Interest Rate | Four percent interest |
Debit Card Offered | Visa Classic Debit Card |
Features & Benefits of Axis Bank Easy Access Salary Account
- Axis Bank’s Easy Access Salary account is endowed with copious perks and special features, not only for you but for your family too. This payroll account of your certainly offers you improved access to your resources.
- You may start this account at absolutely no opening deposit and as there is no average monthly balance mandate to be fulfilled, whatever is in there is all yours to spend any day anywhere.
- You earn four percent interest on the balance, which will be paid to you, which will be disbursed to you every quarter.
- You have the benefit of limitless and free NEFT cash transactions.
- You also get a free multi-city at par cheque book every three months, not to mention a free Pay Order and/ or Demand Draft drawn at Axis Bank in a month.
- Accessibility: With more than 12,000 ATMs and 2500 branches peppered across the nation, connectivity and inconvenience will be least of your worries. Other than this, internet and smartphone banking have definitely made banking a cakewalk.
- You get a visa classic debit card for free as you open the account.
- You are offered a greater limit for ATM withdrawal, which is INR 40,000 per day. For online and PoS shopping, the limit is INR 1 lakh.
- Your yearly debit card membership fee of INR 150 will be waived off if you transact more than INR 15,000 per annum.
- You are allowed five transactions at Axis Bank ATMs and three transactions at other bank for free in a month. After that a small fee will be levied for each transaction.
- Unique Perks for Top Corporates include one percent cashback on every debit card spend (up to INR 750 monthly), 25 percent cashback on film tickets up to INR 1000 per year as well as better insurance coverage of up to INR 10 lacs and air accident indemnification of up to INR 25 lacs.
- Axis Card is endowed with financial security for you, your loved ones and what you buy with the card. In the event of the card holder’s demise in an accident, the family will get insurance amount of INR 2 lacs.
- As an Axis Bank debit card user, you will be indemnified for risk of loss or theft (and its fraudulence). But do make sure that you notify the customer care at the earliest. Any consumer resilient product bought with the Axis Bank debit card is covered against fire, natural disaster, theft and break-in up to three months from the day you bought it. The amount claimable is up to INR 50,000.
- eDGE Loyalty Rewards Program: eDGE Loyalty Rewards program permits the account holders to earn reward points on chosen transactions. To be eligible for this, you need to have at least INR 25,000 monthly balance. You can exchange the points for any product listed in the bank’s reward catalogue.
Eligibility Criteria & Documentation for Axis Bank Easy Access Salary Account
- If you wish to open an Easy Access Salary Account, you need to have an introductory letter from your organization in the specified format. It also has to be stamped and signed by the official signatory.
- Submit two recent (less than 6 months old) passport sized photographs of the applicant.
- Submit residence proof (any latest utility bill in the name of the applicant/ spouse, Ration Card, Gas connection registration letter, rental/ lease agreement etc.).
- Applicant also needs to submit ID Proof (Copy of PAN Card, Voter’s ID, Passport, any Photo ID issued by Government, Defense services or Public Sector undertaking, Driving License etc.
- Letter from recognized Public Authority / Defense Authority / Public Servant verifying the identity and photograph of the applicant.
- If you are opening a joint account, the above documentation and eligibility process hold the same for both applicant and co-applicant.
Fees and Charges Required on Axis Bank Easy Access Salary Account
- Money Transaction Fee:The initial five branch cash transactions (or INR 10 lacs, whichever is more) in metro cities and towns and 10 transactions (or INR 10 lacs, whichever is more) in semi-urban and rural regions are free. After that INR 5 per INR 1000 or INR 150 (whichever is more) will be levied.
- Basic Service Charges
SL No | Particulars | Amount |
1 | Initial Funding | Zero |
2 | Average Balance Required (Metro) | Zero |
3 | Account Service Fee (Metro) | Not Applicable |
4 | Average Balance Required (Urban) | Zero |
5 | Account Service Fee (Urban) | Not Applicable |
6 | Average Balance Required (Semi Urban) | Zero |
7 | Account Service Fee (Semi Urban) | Not Applicable |
8 | Average Balance Required (Rural) | Zero |
9 | Account Service Fee (Rural) | Not Applicable |
10 | Net Relationship Worth (for all areas) | Not Applicable |
11 | Primary Debit Card Type | Visa Classic Debit Card |
12 | Fees for issuing Primary Card | Zero |
13 | Primary Card: Yearly Fees | INR 150 |
14 | Joint Debit Card Type | Visa Classic Debit Card |
15 | Fees for issuing Joint Card | Zero |
16 | Joint Card: Yearly Fees | INR 150 |
17 | For customized Debit Card (My Design Card) | Original Card Issuance Fee + INR 150 |
18 | To get CHIP & PIN card issued | Original Card Issuance fee + INR 50 |
19 | Cheque book | One multi-city Cheque Book with 20 leaves free for every three months |
20 | DD/ PO Issuance: No. of free DD/ PO | One every month |
21 | Charges to be levied when you close the account | INR 500 |
22 | Net Secure with 1 Touch Issuance charges | INR 800 |
III. Transaction Fees & Charges
SL No | Particulars | Amount |
1 | Daily withdrawal limit and Shopping limit | Daily ATM Withdrawal Limit of Rs.40,000, Daily POS transaction Limit of Rs.100,000 |
2 | Monthly Cash Transaction Free Limits (Metro/Urban) | First 5 Transactions or transactions up to INR 10 lacs, whichever happens before |
3 | Monthly free money transaction (Semi-urban or rural regions) | First ten transactions or deposits or withdrawals of up to INR 10 lacs |
4 | Fees on deposits and withdrawals more than the set limit | INR 5 per transaction of INR 1000 or INR150, whichever is more |
5 | Charges to collect Outstation Cheque | INR 25 for cheque of up to INR 5000; INR 50 for cheque between INR 5000 and INR 10,000; INR 100 for check amount between INR 10,000 and INR 1 lakh; INR 200 for cheque amount exceeding INR 1 lakh |
6 | Branch RTGS Transaction Fees | INR 25 for each transaction for amount between INR 2 lacs and INR 5 lacs; INR 50 for each transaction above INR 5 lacs. |
7 | Online RTGS Transaction Charges | INR 25 for transaction between INR 2 lacs & 5 lacs; INR 50 for transaction above INR 5 lacs |
8 | Limits for NEFT Transaction | Free online transactions |
9 | Branch NEFT Transaction Fees | INR 2.50 for amount up to INR 10,000; INR 5 for amount between INR 10,000 and INR 1 lakh; INR 15 for amount between INR 1 lakh and INR 2 lacs; INR 25 for amount exceeding INR 2 lacs |
10 | Online NEFT Transaction Charges | Zero |
11 | Charges levied for IMPS transaction | Up to INR 1 lakh, it is INR 5 per transaction; For amount between INR 1 lakh & INR 2 lacs – INR 15 for each transaction |
12 | Speed Clearing Charges | Free up to cheque amount of INR 1 lakh. For amount exceeding INR 1 lakh, the charge is INR 150. |
13 | Number of free transactions at Axis Bank | First five transactions – Both financial and non-financial |
14 | Non - Axis Bank ATM : No of Free Transactions | Initial three transactions (both financial and non-financial) free in metro cities. First five transactions (both financial and non-financial) in all other regions. |
15 | Charges to withdraw cash from Axis & other banks after the given limits | INR 20 for each transaction |
16 | Non-financial transaction charges for axis and other bank ATMS balance enquiry after limits | INR 8.5 for each transaction |
17 | Global Money Withdrawal fees (ATM) | INR 125 |
18 | Global Balance Checking fees (ATM) | INR 25 |
19 | Extra charges on train tickets bought with Debit Card | 2.5 percent of the overall bill (Min INR 10) + INR 30 for each transaction |
20 | Additional charges at Petrol Pumps | 2.5 percent of the net sale amount (Min INR 10) |
21 | Cross Currency Mark-up on Global Debit Card Transactions | 3.50 percent |
IV. Fees levied if the transaction fails:
SL No | Particulars | Amount |
1 | Return of outward cheque | INR 150 for each cheque |
2 | Return of inward cheque | INR 350 for the first returned cheque. INR 750 for subsequent cheques. |
3 | Return of outstation cheque | INR 150 for each cheque |
V. Convenience fees & charges:
Sl No | Particulars | Amount |
1 | Fee to replace the debit card | INR 100 |
2 | Fee to replace your MyDesign Card | Original Card Replacement Fee + INR 150 |
3 | Fee to replace CHIP & PIN debit card - | Original Card Replacement Charges + INR 50 |
4 | Charges for cheque book after the first free one | INR 50 for a cheque book with 20 leaves |
5 | To get duplicate PIN (Branch mode only) | INR 100 |
6 | To obtain duplicate passbook | INR 100 |
7 | Physical Statement Fee at branch, for prior quarters | INR 100 |
8 | Stop Payment Instructions: Cheque | INR 100 for each cheque, with a maximum of INR 200 for Series (>2) |
9 | Stop Payment Instructions: ECS | INR 100 |
10 | To cancel DD/ PO | INR 100 |
11 | To obtain duplicate DD/ PO | INR 100 |
12 | To revalidate DD/ PO | INR 100 |
13 | Further fee for DD/ PO | INR 50 |
14 | For Value-added SMS Alerts | INR 5 (Monthly) |
15 | To conform the given address | INR 100 |
16 | To get the photo attested | INR 100 |
17 | To verify the signature | INR 100 |
18 | To issue Balance Certificate | INR 100 |
19 | Charges levied for locker facility | Differs by size and branch type from different regions. |
20 | Replacement charges for NetSecure with 1 Touch | INR 500 |
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