Product Details
Bank Name
Axis Bank
Account Name
Axis Bank Small Basic Saving Account
Account Type
Savings
Interest Rate
Less than Rs. 50 Lacs-3.00% p.a. and Rs. 50 Lacs above but less than Rs. 800 Crs-3.50% p.a.
Free Debit Card
Rupay Debit Card
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
NIL
NEFT Charges
Free online
IMPS Charges
Free online
Fees and Charges
Axis Bank Small Basic Saving Account
Special Features
Zero balance saving account.
High withdrawal limit of Rs. 40,000 at ATMs and Rs. 1,00,000 for shopping transactions.
Eligibility Criteria
An individual residing in India who does not have an existing savings account in Axis Bank, prior to opening the Basic Savings Account.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Zero balance saving account.
High withdrawal limit of Rs. 40,000 at ATMs and Rs. 1,00,000 for shopping transactions.
Cons
Aggregate of all withdrawals and transfers in a month - maximum Rs. 10,000.
Aggregate of all credits in a financial year - maximum Rs. 1 Lakh.
Account balance at any point in time should be a maximum of Rs. 50,000.
Foreign Inward remittance is not permitted.
Axis Bank Small Basic Saving Account Review
The account comes with extremely low interest. The account is a no frill account with bare minimum value add features.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Account Opening and Procedure
How to open an Account?
Verify your identity using PAN and Aadhaar.
Provide your information.
Fulfill your KYC requirements through a video call.
Deposit funds into your account.