Question: What Happens If I Don’T Maintain Minimum Balance In Axis Bank?

Does Axis Bank open zero balance account?

ASAP Instant Savings Account – Axis Bank If you are looking to get your zero balance account opened in no time, then ASAP Instant Savings Account, from Axis Bank, is a perfect choice.

Features of ASAP Instant Savings Account by Axis Bank are: Unlimited number of NEFT/RTGS from the mobile app..

What is minimum monthly balance?

Monthly Average Balance (MAB), also known as the minimum average balance is nothing but the minimum amount you are required to maintain in your Savings Account every month. The figure is calculated at the end of each month and failure to maintain this minimum average balance will result in penalties.

What is minimum balance charge?

The minimum balance non-maintenance charges vary for urban, semi-urban and rural branch customers. … So, if the average minimum balance is below Rs 2,500 in an urban branch account, the charges are Rs 600 per month while if the AMB is below Rs 10,000 but above Rs 7,500, the penalty is Rs 150.

Is it safe to keep money in Axis Bank?

Axis Bank is the third-largest bank in the private banking sector in India and hence it is very safe to invest. … Axis bank has a separate brand image for customer service and maintaining customer relationships.

What is the charge for not maintaining minimum balance in Axis Bank?

Axis Bank:Monthly Average BalanceRs 10,000If Monthly Average Balance is not maintainedRs. 10 per Rs.100 of the shortfall from Average Monthly Balance Requirement or ₹ 500, (plus GST) whichever is lower with a minimum charge of ₹ 100Dec 9, 2018

What is the minimum balance to maintain in Axis Bank?

Axis Bank Minimum Balance Requirements The minimum balance amount ranges from as low as Rs. 2,500 to Rs. 1,00,000/-.

Which bank has lowest minimum balance?

ICICI Basic Savings Account.HDFC BSBDA Small Savings Account.SBI Basic Savings Bank Account.Axis Bank Small Basic Savings Account.Indus Small Savings Account.Standard Chartered Bank’s Basic Banking Account.RBL Bank’s Abacus Digital Savings Account.IDFC Bank Pratham-savings account (BSBDA)

What is Axis ASAP zero balance?

Axis ASAP is a new age digital savings account offered by Axis Bank. You can open an Axis ASAP account by downloading the Axis Mobile App or by visiting www.axisbank.com/asap& registering your Aadhaar, PAN & other basic details. … Axis ASAP is a fully loaded Digital Savings Account.

What is minimum average balance?

MAB is the average of all the closing-day balances in a given month. To calculate the MAB, you need to add each day’s end-of-the-day balance and divide it by the number of days in that month. MAB = (Sum of all the EOD closing balances)/ (number of days in a month)

Which bank saving account is best?

Read on for more details about each savings account.Citibank AcceleRate Savings Account. … Standard Chartered Privilege$aver. … OCBC 360 Account. … UOB Stash Account. … Hong Leong Bank Pay&Save Account. … Alliance SavePlus Account.

How can we avoid minimum balance charges?

To avoid such circumstances, you can opt for a zero balance account. You can open a zero balance account, even if you are a non-salaried account holder of a bank. With this option, account holders will not be required to maintain a monthly average balance.

Which bank has zero balance?

8 Best Zero Balance Savings Account In IndiaIDFC First Bank Pratham Savings Account. … YES Bank Smart Salary Advantage. … IndusInd Bank-Indus Online Savings Account. … DBS-DigiSavings. … Kotak Mahindra Bank-811 Digital Bank Account. … HDFC Bank – Basic Savings Bank Deposit Account. … SBI – Basic Savings Bank Deposit Account. … Standard Chartered Basic Savings Bank Deposit Account.

Is Axis Bank ASAP account good?

This done, your Axis ASAP account is good to use. All you need to do is visit any of our Axis Bank branches within 1 year to regularize your account. Any balance more than Rs 20,000 in the Axis ASAP account earns higher interest rate thanks to the auto FD feature.

How much money can I keep in my bank account in India?

In short, there is no limit on the amount of money that you can put in a savings account. No law limits how much you can save and there’s no rule stating that a bank cannot take a deposit if you have a certain amount in your account already.

Which bank is better HDFC or Axis?

But, in terms of interest rates, HDFC is a better option as its highest rate is 8%. Whereas, Axis Bank Home Loan Interest rates are can go upto 8.55%….People Also Look For.Home Loan Interest Rates December 2020Axis Bank7.75% – 8.55%Bank of Baroda6.85% – 8.25%Citibank7.13% – 8.03%HDFC6.90% – 7.65%9 more rows

Does Axis Bank charge for debit card?

Goods and Services Tax will be applicable on all the above mentioned fees & charges….Online Rewards Debit Card Fees and Charges.Issuance Fees- Primary/JointRs. 500 + TaxesAnnual FeesRs. 500 + TaxesATM Withdrawal Limit (Per Day)Rs. 50,000Purchases Limit per dayRs. 5,00,000Lost Card LiabilityRs. 1 Lakh4 more rows

What is the penalty for not maintaining minimum balance in Canara Bank?

If you are not maintaining an average monthly balance Rs. 5000 (Urban/Metro Branches) and Rs. 1000 (Rural/Semi-Urban Branches), then you will be charged Rs. 60 per day and Max: Rs.

Is HDFC zero balance account available?

Zero Balance Savings Account: HDFC Bank and SBI offer number of facilities such as debit and ATM cards and internet banking with BSBD account. Zero balance savings account: A BSBD account does not require a minimum or maximum limit.