Manage Money

Axis Bank Savings Account

Established in 1993 as UTI Bank which was later converted to Axis Bank, it is the third largest private sector bank in India. They have over 3000 branches and nine International Offices which can be located on their website. They not only provide basic banking facilities but also offer services pertaining to Agriculture and Retail business, MSME, Corporate banking. 

Axis Bank Savings Account Interest Rate

IndusInd Bank offers the following interest rates for its Savings Account: 

  1. 3.5% p.a. for savings deposit balance up to Rs 50 lakh
  2. 4% p.a. for savings deposit balance above Rs 50 lakhs 

Get your free Credit report that cost Rs 1200 for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs

Types Of Axis Bank Savings Accounts

  1. EasyAccess Savings Account: This account is great for beginning the journey of savings with an interest rate of 4% on daily balances, paid quarterly. Axis Bank’s internet and mobile services give hassle-free access to this account and enable tracking of account expenses. These accounts need a minimum deposit of Rs 10,000 if opened in Metro cities. A Visa Classic debit card is generally issued with this account. 
  2. Prime Savings Account: This type of account gives enhanced access, higher transaction limits and a MasterCard Titanium Debit Card.
  3.  Future Stars Savings Account: This type of account enables parents to plan and save for their kid’s future. This account is designed for children below 18 years of age, to be operated by a parent or a guardian till the child comes of age. A free ATM card is issued with the account, which has a daily withdrawal limit of Rs 1500/-. This Account has a low requirement for a monthly balance of Rs 2500/- in Metro cities.
  4.  YOUth Account: This account lets the customers manage their money through the mobile banking YOUth application. It also offers a YOUth debit card which is loaded with features and offers. Customers are allowed to design their own version of the Visa Classic Youth Card and also personalize it to look the way they want. 
  5. Prime Plus Savings Account: A customer holding this type of an account is entitled to higher transaction limits. This account also offers entertainment, pricing and reward benefits. It provides the flexibility of maintaining an average monthly balance of Rs 1 lakh and requires the same as the opening deposit. 
  6. Women Savings Account: This is Axis bank's unique scheme for women customers. It needs a minimum opening deposit as well as an average minimum balance of Rs 10,000/- in Metro cities. 
  7. Senior Privilege Savings Account: Senior citizens get preferential treatments at the bank's branches through this account. They also get exciting discounts and offers through these accounts.
  8.  Pension Savings Account: The Pension Savings is exclusively designed for pensioners of the Central Government, Civil & Defense Ministries. This account does not have an average quarterly minimum balance requirement. The Central Civil Pension is disbursed into this account. 
  9. Trust/NGO Savings Account: This account is a banking solution for Trusts, Associations, NGOs, Societies, Section 25 companies and Government Bodies. It has an average monthly balance requirement of Rs 25,000/-. The transactions associated with this account are performed without any charge. Additionally, a free demat account is provided to facilitate investments. 
  10. Insurance Agent Account: This account is specially designed for insurance agents with a minimum opening deposit of Rs 5000/- only. A Visa Classic Debit card is issued with this type of account. 
  11. Basic Savings Account: This account comes with a free Rupay Debit card. It has a zero balance facility. The customers can avail free SMS alerts as well as a passbook, in order to track their account activity. 
  12. Small Basic Savings Account: As the name suggests, this is a great account to begin saving money. It does not have a minimum balance requirement. Customers get a RuPay debit card along with this account. 
  13. Priority Account (Resident): Indian Axis bank customers can open this exclusive savings account which provides unlimited lifestyle privileges, exciting deals, entertainment offers and preferential rates. It also offers and a special Mobile App for the Priority accounts. 
  14. Krishi Savings Account: This type of account is offered to farmers and to individuals involved in allied agricultural activities in rural and semi-urban areas. Krishi Savings Account holders get an International Master Debit Card. A minimum half-yearly balance of Rs 2,500/- is to be maintained. 
  15. Priority Account (NRI): NRI customers can access AxisRemit through this account to easily transfer or remit funds at preferential rates. 
  16. Pradhan Mantri Jan-Dhan Yojana (PMJDY): Axis Bank offers its customers to enroll in the PMJDY scheme. This scheme allows users to access affordable banking rates, deposit, remittance, insurance, credit, and pension services to people residing in rural areas. Accounts under this scheme earn 4% interest. People enrolled in this scheme can avail a Basic Savings Bank Deposit Account. They can also open a Small Account if they do not have valid documents for a regular account. This type of account offers overdraft and cheque book facilities as well as the option of availing a RuPay Debit Card. There are additional benefits such as Accidental Insurance cover of Rs 1 lakh and life insurance cover of Rs 30,000, at no extra charge. This account offers the facility of mobile banking 
  17. Inaam Personal account: The Inaam Personal Account lets customers enjoy a number of banking services with ease. It is a zero interest account. The account holders can make secure fund transfers, easy payments, get account details, SMS alerts, access mobile banking and receive e-statements of their account. Customers get one free chequebook per quarter as well as a Visa Classic Debit Card issued at a nominal charge. This card has a daily shopping transaction limit of Rs 1 lakh and a withdrawal limit of Rs 40,000. Customers automatically get to earn eDGE Loyalty points for the transactions done through this account

Get your free Credit report that cost Rs 1200 for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs

 Axis Bank Minimum Balance Requirements

The minimum balance required for most Axis Bank accounts ranges from Rs 2,500 to Rs 1,00,000/- 

Savings Account Type

Minimum Balance Amount

EasyAccess Savings Account

Rs.10,000

Prime Savings Account

Rs.25,000

Future Stars Savings Account

Rs.2,500

Prime Plus Savings Account

Rs.1,00,000

Women's Savings Account

Rs. 10,000

Senior Privilege Savings Account

Rs. 10,000

Pension Savings Account

-

Trust/NGO Savings Account

Rs. 25,000

Insurance Agent Account

Rs.5,000

YOUth Account

-

Basic Savings Account

-

Small Basic Savings Account

-

Krishi Savings Account

Rs. 2.500 (half-yearly)

 Axis Bank Savings Account Charges 

Savings Account Type

Account Service Fees (monthly) (Rs.)

Debit Card Issuance Fees (Rs.)

Account Closure Charges (Rs.)

EasyAccess Savings Account

350

150

500

Prime Savings Account

350

Nil

500

Future Stars Savings Account

100

150

500

Prime Plus Savings Account

350

Nil

500

Women's Savings Account

350

150

500

Senior Privilege Savings Account

500

150

500

Pension Savings Account

NA

150

500

Trust/NGO Savings Account

350

150

500

Insurance Agent Account

350

150

500

YOUth Account

NA

Nil

500

Basic Savings Account

NA

Nil

500

Small Basic Savings Account

NA

Nil

500

Krishi Savings Account

500

150

500

Get your free Credit report that cost Rs 1200 for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs

 Documents Required to Open a Savings Account

  • Identity Proof: Passport, driver’s license with validity, Permanent Account Number (PAN) card, Voter ID card, Aadhaar Card, Government-issued photo identity card, NREGA Card, etc. 
  • Address Proof: Passport, driver’s license, Passbook of another bank, Electricity or phone bills, Ration card, etc. 
  • Passport sized photographs 

FAQs

  1. What is the transaction limit for Axis Bank's Prime Plus Savings Account?

    20 transactions are allowed every month at any branch of Axis Bank, free of charge. 

  2. What it the minimum balance required for opening a Pension Savings Account with Axis Bank?

    There is no such requirement. 

  3. What would be the withdrawal limit for the Axis Bank Women’s Savings Bank Account?

    The daily withdrawal limit is Rs 40,000 at ATMs whereas the daily shopping transaction limit is Rs 10,000. 

  4. What is the age requirement for the Senior Privilege Savings Account?

    The applicant must be at least 57 years of age. 

  5. What is the interest rate for the Axis Bank Basic Savings Account?

    4% calculated on the daily balance; interest is paid quarterly. 

  6. Who are eligible to open the Prime Savings Account at Axis Bank?

    Residents of India and members Hindu undivided Families can open an Axis Bank Prime Savings Account. 

  7. What are the benefits of the Senior Privilege Savings Account?

    A special senior’s Id card for emergency purposes, special bill payment facility at all Axis Bank branches, 15% discount on purchases from Apollo Pharmacies, 20-60% discount at many diagnostic centers for health check-ups and many more such benefits.

DMCA.com Protection Status