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Steps to Open Axis Bank Savings Account

For customers looking to open a savings account, opting for the variety of savings account options offered by Axis Bank could be the best way forward. The Axis Bank Savings Account comes with the benefit of relatively low average monthly balance, reward points for every transaction and the possibility of customising the account to suit one’s financial needs.

Features and Benefits of Axis Bank Savings Account

  • Customers can choose between a number of savings accounts and choose one that suits their financial needs and goals.
  • The average monthly balance requirement depends on the location the account is held in - urban, semi-urban or rural areas.
  • Customers can also opt for a zero-balance savings account.
  • On opening the account, customers are eligible for a free cheque book and passbook.
  • Customers holding a savings account with Axis Bank can make withdrawals at any ATM across the country.
  • Account holders can enjoy the convenience of free net banking and mobile banking and phone banking facilities.
  • To keep a track of their finances, customers will receive free monthly e-statements.
  • Interest is compounded quarterly.
  • Through the net banking facility, account holders can carry out transactions anywhere in the world.
  • Customers can carry out fund transfers through the NEFT and RTGS facilities.

Documents Required for Axis Bank Savings Account

To be eligible to open any savings account with Axis Bank, customers will be required to submit the following documents.

For individuals:

  • Two latest passport size photographs
  • Proof of identity - Passport, Driving license, Voter’s ID card, etc.
  • Proof of address - Passport, Driving license, Voter’s ID card, etc. If temporary address and permanent address are different, then both addresses will have to submitted.
  • PAN card
  • Form 16 (only if PAN card is not available)

For Hindu undivided families:

  • Copy of PAN card
  • Form 16 (only if PAN card is not available)
  • Declaration form from Karta
  • Proof of identification and address of Karta document
  • Prescribed joint Hindu family letter that has been signed by the heads of the family

For joint applicants:

  • Identity and address proof of both parties
  • In case of a married couple, only the address of the primary account holder will be required

Steps to Open an Axis Bank Savings Account

  • Visit the Axis Bank homepage.
  • Click on “savings accounts”
  • Now, choose a savings account that will suit your financial needs and goals.
  • As soon as the individual applies to open a savings account in Axis Bank, he/she will be required to submit the following documents when intimated by an executive from the bank:
    • Proof of identity - Passport, Driving license, Voter’s ID card, etc.
    • Proof of address - Passport, Driving license, Voter’s ID card, etc.
    • PAN card
    • Form 16 (only if PAN card is not available)
    • 2 latest passport size photographs
  • The applicant will then have to fill in the application form. Note, all fields will be required to be filled in to avoid rejection of the application. If one faces issues filling in the form, he/she can contact any executive of Axis Bank for assistance.
  • Once the above mentioned documents are ready and the form filled, the individual will be required to visit and submit the form and the KYC documents at the Axis Bank branch of choice. One can also register for a savings account online.
  • A bank executive will verify the documents and ensure that the name, date of birth, address and so on in the KYC documents and what’s in the application form match.
  • Depending on the minimum balance requirement of the savings, the account holder will now have to make an initial deposit. The initial deposit can be made at the cash deposit counter.
  • Once the deposit has been made, the executive will hand you a debit card and the relevant bank documents with regard to the savings account.

Eligibility to Open Axis Bank Savings Account

Customers will have to meet certain criteria to be eligible for the savings account offered by Axis Bank.

  • The individual applying for this savings account should be a citizen of India.
  • The applicant should be 18 years and above to be eligible, except in cases of a minor savings account.
  • The applicant will be required to submit valid KYC documents provings his/her identity and address along with the account opening form.
  • Hindu undivided families are eligible.
  • When opening the account, the applicant will have to make an initial deposit - depending on the minimum balance requirement of that particular savings account.
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