Axis Bank gets listed among the leading banks in the private banking sector of India. The bank offers a wide range of excellent banking services with an aim to satisfy its clients in varied ways. It provides a wide range of savings accounts with different schemes and facilities.
You may get interested in opening an account with Axis Bank. But before you open the account, you must have proper information about a different savings account, the interest rates the minimum account balance maintenance, and the penalty charges for non-maintenance.
After gaining knowledge about the essential attributes of opening the savings account, you can select the type of account as applicable and as would suit your needs.
Different types of Axis Bank savings accounts
- Easy Access Savings Account
- Prime Savings Account
- Future Stars Savings Account
- Women’s Savings Account
- Senior Privilege Savings Account
- Basic Savings Account
- Youth Account
- Prime Plus Savings Account
- Pension Savings Account
- Trust/NGO Savings Account
- Small Basic Savings Account
- Pradhan Mantri Jan-Dhan Yojana
Axis Bank saving account Interest Rates 2018
Axis Bank quarterly pays an Interest Rate of 3.5% on savings account balance less than Rs 50 Lacs and 4% on Savings Account balance of Rs 50 Lacs and above calculating the daily balance. The interest rate is not applicable for Future Stars Savings Account.
| Amount | Interest Rates |
|---|---|
| Amount Below 50 Lacs | 3.50% |
| Amount Above 50 Lacs | 4.00% |
Minimum account balance maintenance amount for different Axis savings Accounts 2018
- The minimum account balance maintenance for Easy Access Savings Account is Rs 10, 000 in Metro/Urban, Rs 5000 in Semi-Urban and Rs 2500 in Rural.
- For Prime Savings Account the minimum account balance maintenance amount is Rs 25, 000 in Metro and Rs 10000 in Semi Urban/Rural.
- Rs 2, 500 in Urban/Semi Urban and Rs 100 in Rural is the minimum account balance maintenance amount for Future Stars Savings Account.
- For Women’s Savings Account, the minimum account balance maintenance amount is Rs 10, 000 in Urban, Rs 5000 in Semi Urban and Rs 2500 in Rural.
- The minimum account maintenance amount for Senior Privilege Savings Account is Rs 10, 000 in Urban, Rs 5000 in Semi Urban and Rs 2500 in Rural.
- For the Basic Savings Account, the minimum account balance maintenance amount is Nil.
If an account holder fails to maintain the minimum account balance, the bank will charge a penalty depending on the lower limit account balance.
You can make the inquiry about the penalty charges applicable for non-maintenance of the minimum account balance at the bank.
The monthly account service fees charged by Axis bank 2018
- For Easy Access Savings Account, Prime Savings Account, Women’s Savings Account, and Trust/NGO Savings Account, the monthly account service fee is Rs 500 for urban, Rs 350 for semi Urban and Rs 250 in Rural if Minimum account balance is maintained. If required minimum balance is not maintained, then charges will be Rs 5 for every Rs 100 shortfall in required balance.
- For Future Stars Savings Account, the monthly account service fee is Rs 100 if the minimum account balance is maintained. If the minimum balance is not maintained, then charges will be Rs 5 for every Rs 100 shortfall in the required balance.
- The monthly account service fee for Senior Privilege Savings Account is Rs 500. If the minimum balance is not maintained, then charges will be Rs 5 for every Rs 100 shortfall in the required balance.
- The bank charges no monthly account service fees for Pension Savings Account, Youth Account, Basic Savings Account, and Small Basic Savings Account.
Before opening an account with Axis Bank, you must have proper info about the types of savings account offered by the bank and learn about the minimum balance maintenance amount for each account. Your account must have sufficient balance as applicable to avoid any penalties from the bank for non-maintenance of the account balance.
This post was last modified on Feb 21, 2023 7:05 pm