What if minimum balance is not maintained in Axis Bank?
7.5 per 100 of the shortfall from AMB requirement or 600 whichever is lower. 7.5 per 100 of the shortfall from AMB requirement or 600 whichever is lower. 7.5 per 100 of the shortfall from AMB requirement or 300 whichever is lower.
Yes. Axis Bank offers a Zero Balance Savings Account also called Basic Savings Account as part of the Pradhan Mantri Jan-Dhan Yojana Scheme. The account offers benefits such as free cash deposits, access to over 4000 Axis Bank branches and 14,000+ ATMs across India and Internet and Mobile banking services.
What is the penalty for minimum balance in Axis?
Monthly Service Fee (MSF) of Rs 5 for every Rs 100 difference in the required amount plus Rs 75 or Rs. 500, whichever is less, with a minimum charge of Rs 75 for Urban customers.04-Apr-2022
IndusInd Bank - Indus Online Savings Account Any Indian citizen above the age of 18 years is eligible to open this savings account with no minimum balance. Transfer funds for free via NEFT, IMPS, and RTGS. Avail of WhatsApp banking services and a free passbook, chequebook, and debit card.
What is minimum balance rule?
Customers have to maintain a minimum threshold amount in their bank account known as minimum average balance. If this value is not maintained, then banks charge a penalty from their customers. What is the meaning of minimum balance?25-Feb-2022
Your account can show negative balance because of unpaid fees & charges levied to your account. Please call us on the numbers mentioned in the Call Tab provided on the right side of the page to know the breakup of charges.
What is minimum balance in Axis India?
Axis Bank Minimum Balance Requirements 2,500 to Rs. 1,00,000/-.
Key fees on your Account
What is basic account in Axis Bank?
Axis Bank's Basic Savings Account brings you the best-in-class banking services, without the need for any minimum balance requirement. The benefits of the Basic Savings Account include free cash deposits, convenient banking with access to multiple branches & ATMs across India and Internet & Mobile Banking services.
Minimum amount due is 5% of your total amount that you can pay to avoid late payment charges on your card.
What is average balance in Axis Bank?
Average Balance refers to the average amount to be maintained in your account, over a certain period. Depending on the scheme and branch category (Metro/Urban/Semi-Urban/Rural), there are 3 types of Balances, Average monthly balance (AMB), Average quarterly balance (AQB) and half-yearly average balance.
Special Feature. Kotak Mahindra Bank has introduced three kinds of zero balance accounts out of which Kotak 811 Full KYC account is the most useful as it provides a cheque book and a debit card (if required by paying INR 199) and a free digital debit card. Facility of NEFT, IMPS, RTGS available without any charge.15-Nov-2022
How can I open Axis Zero balance account?
Step 1: Select the type of Axis ASAP Digital Savings Account you'd like to open and verify yourself using your PAN, Aadhaar and mobile number. Step 2: Key in your personal details. Step 3: Complete verification via Video KYC. Step 4: Fund your account and confirm your name to be published on debit cards.
List of All Banks Savings Account Interest Rates and Minimum Balance 2022
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If the bank goes below the level required the bank charges you a penalty ranging from Rs 600 to Rs 150 depending on the amount of balance. For example, if the balance falls below Rs2500 then Rs 600 penalty is charged and if it is between 7,500 and less than Rs10,000 it is Rs 150 (for metro and urban accounts).24-Aug-2022
What is lowest balance?
What Is a Minimum Balance? For bank accounts, the minimum balance is the minimum dollar amount that a customer must have in an account to receive some service benefit, such as keeping the account open or receiving interest.
Minimum balance in SBI bank savings account 1000 monthly in rural areas. In semi-urban areas, the AMB is Rs. 2000, and in the metro city, the account holder has to maintain an AMB of Rs. 3000.06-Sept-2022
Do we need to maintain minimum balance in Axis salary account?
As someone running an organization, there are many ways to compensate your team of employees. And the most favored method is opening a salary account with a reputed bank.Overview.
If your account is classified as dormant, it goes under a lockdown. You cannot make any transactions through the account: Net-banking, phone banking, ATM transactions, cheque withdrawals are all barred.29-Jan-2020
What is the maximum balance in Axis Bank account?
You can maintain an Average quarterly Balance(AQB) of Rs 75,000 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.
What if minimum balance is not maintained in Axis Bank?