Axis Bank Savings Account – Check Axis Bank Account Types, Features, Benefits, Documents Required, Interest Rate, Minimum Balance.
Axis bank offers best financial solutions to its customers. As an account holder with axis bank it is capable of enhancing your financial journey. You experience a wide range of privileges. Not only it gives various benefits to every citizens, it also offers special account for women and senior citizens of the country. To develop savings habit amongst the children and youth, separate savings account products are offered.
Here are the types of savings accounts offered by the axis bank for you to choose the best suited for yourself :-
Easy Access Savings Account
- This type of savings account provides low average monthly balance requirements of ₹ 10,000/- in metros. An individual residing in India and a Hindu Undivided Family (HUF) can apply for such savings account. Account holders get Rupay Platinum Debit Card at an issuance fees of ₹ 200/- and annual fees of ₹ 150/- in metro and urban locations.
- It offers same interest rates as a regular savings account i.e 3% p.a on balance below ₹ 50 lacs and 4% above ₹ 50 lacs.
- You get high daily withdrawal limits of ₹ 40,000/- at ATMs and ₹ 1,00,000/- for shopping transactions with easy access savings account. Additionally, Personal accident insurance cover of ₹ 2 lacs is offered.
Prime Plus Savings Account
- Minimum opening deposit of ₹ 1,00,000 across all locations is required. Through Monthly e-statements you can track your transactions easily. Prime Plus Savings Account comes with 20 free transactions every month at any axis bank branch. You can maintain an Average Monthly Balance (AMB) of Rs. 1 lakh in your savings account or a Total Relationship Value (TRV) of Rs. 5 lakhs across your savings accounts and fixed deposits, for a minimum tenure of 6 months.
- 10% cashbacks on movie tickets subject to a maximum cashback of ₹ 1000/- per year.
- 25% discount on locker rent is offered
- As a prime plus savings account holder you can earn Axis edge reward points on maintaining a minimum monthly balance of ₹ 25,000/-
Documentations may vary for Individuals, HUFs & Joint accounts. Basic documents that must be kept handy are mentioned below :-
- 2 latest passport sized photograph
- Address and Identity proof (In case of joint account, Address proof can be only of the First holder of the account, as long as it is supplemented by a relationship proof between both holders).
Prime Savings Account
- With prime savings account you can get enhanced experience of your savings. Secure plus debit card is offered with personal accident insurance cover of up to ₹ 5 lakhs. Unlimited Cheques books are offered to the account holders.
- Higher transaction limits are offered by Axis Bank on such savings account.
Women’s Savings Account
- This account is especially for women residing in India. The account can be opened with a minimum opening deposit of ₹ 10,000/-. The account offers high cash withdrawal limits and access to 13,000+ Axis bank ATMs, 3000+ branches as well as internet and mobile banking services.
- Visa Classic Debit Card at an issuance fee of Rs. 200 and annual fee of Rs. 150 in metro and urban locations is offered.
Senior Privilege Savings Account
- ‘Senior Privilege Savings Account’ as the name suggests gives additional benefits to the senior citizens residing in India who are 57 years or older. It offers discounts at health care services, up to 50% off at 200 diagnostic centres.
- A senior ID card is issued which gives priority treatment at branches.
- Low opening deposits are offered of ₹ 10,000/- in metro and urban centres, ₹ 5,000/- in semi-urban centres & ₹ 2,500/- in rural centres.
- Guidance is provided for writing a will.
Future Stars Savings Account
- This account is a tailor made account for children below the age of 18 years. Account can be operated by a guardian for children below 10 years of age. Low monthly balance is required to maintain of ₹ 2,500/- in metros.
- No average monthly balance is required to maintain if fixed deposit of ₹ 25,000/- for 6 months or recurring deposit of ₹ 2,000 for a year.
- Personal accident insurance cover of upto Rs. 2 lakhs is provided, If card is swiped once, every 6 months.
- On completing transactions one can earn reward points.
Pension Savings Account
- Axis Bank takes special care of the pensioners. With Pension savings account pensioners can get access to there central civil pension with No average quarterly balance maintenance. It gives the benefit of unlimited cash transactions with no cap on value.
Trust/NGO Savings Account
- If you want to have a account for your social work then this savings account will turn out to be your perfect requirement. An average monthly balance of ₹ 30 lakhs or balance across savings and term deposits of ₹ 1 Crore is required to maintain. You can easily access the account.
- Free lockers and safe custody facility is provided for the trust.
- Discounts on commercial vehicle loan and on education loan is offered.
- It comes with 4 types of trust savings account, Namely – Platinum, Gold, Silver & Standard Trust Account.
Insurance Agent Account
- This account require low balance maintenance. It offers concessional minimum opening deposit of ₹ 5000/- in metros. It provides the account holder with personal accident insurance cover. It comes with high withdrawal limits and reward points on transactions. Basic KYC documentations are required to open the account.
Youth Savings Account
- This account offers facilities to the individuals aged between 18 years to 25 years. The account holders get the privilege of accessing there account through Youth mobile app. Daily ATM cash withdrawal up to Rs.40,000 and shopping limit up to Rs.1,00,000 is offered on the account. The interest rates offered on this particular account are same as the basic axis bank savings account which are subject to change from time to time.
Basic Savings Account
- An individual residing in India who does not have an existing savings account in Axis Bank, prior to opening the Basic Savings Account is eligible to open apply for the opening of account.
- If an existing account exists, it needs to be closed in order for the individual to be eligible for the Basic Savings Account and once the Basic Savings Account is opened, the individual cannot own another savings account in Axis Bank.
- No minimum balance is required to maintain and the customers get monthly e-statements, passbooks & SMS alerts.
Small Basic Savings Account
- An individual residing in India who does not have an existing savings account in Axis Bank, prior to opening the Basic Savings Account is eligible to open this account. It comes with certain limits related to withdrawals, transfers & credits in a financial year. No minimum balance is required to maintained.
Inaam Personal Account
- It gives zero interest on money in account with convenient multi-channel banking. Free cheque books and low debit card issuance charges are offered by the bank. 50% waiver on wire charges for inward wires made using SWIFT is the another key benefit if Inaam Personal Account.
Basic Documents Required for Axis Bank Savings Account
- PAN Card
- Voter ID Card
- Two latest passport size photographs
- Address proof
- Only a single copy of the document is required if it is listed under both address and identity proof, e.g. Passport/Aadhar Card
- Other documents as per bank’s requirement.
Axis Bank Savings Account Interest Rate
- Upto 4% per annum – ₹ 50 Lakhs and above
- 3.5% per annum – Less than ₹ 50 Lakhs
This interest earned on savings account will be credited on the last business day of each quarter of the financial year,