What is digital saving account in Axis Bank?
The Axis ASAP Digital Savings Account is your avenue to open a savings account anytime anywhere! Offering features such as a Virtual Debit Card, cashback on online spends and customer verification via Video KYC, it proves a great option for those who like to bank digitally on the go.
The account doesn't require any minimum balance since it is a zero balance savings account.6 days ago
Can we open a zero balance account in Axis Bank?
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.
The Axis Bank Easy Access Savings Account allows you to maintain a monthly average balance requirement of ₹ 12,000 if you are carrying out online banking from a metro city. The minimum opening deposit in your account will be ₹ 16,000.
What is the benefit of digital account?
A digital savings account is paperless, fast and secure way for opening an account on a digital platform. With the help of a digital savings account, the account holder can avail banking services like instant transfer, phone banking, SMS banking etc. Additionally, there are free email and SMS alerts.
Accessibly: A Digital Savings Account provides its holders with complete access to all features, at any time of the day, from the comfort of their homes or office. However, to manage or operate a Regular Savings Account, the customer has to visit the bank branch within the working hours.
Is Digital saving account zero balance?
No minimum balance requirement as account can be opened with Zero balance. Cash Withdrawal (self) at non base branches is allowed up to Rs.25000/- No such limit for Cash Withdrawal at Base Branch.
Basic Savings Account This account is for basic savings and a zero minimum balance account, free cash deposits. RuPay debit card with a daily ATM withdrawal limit of INR 40,000. Unlimited cash deposit and 4 free withdrawals per month free of cost.27-Sept-2022
What is Axis monthly service fee?
Account Service Fee (Urban) 7.5 per 100 of the shortfall from AMB requirement or 600 whichever is lower. Average Balance Required (Semi Urban) Average Monthly Balance (AMB) of Rs. 5,000.
Axis Bank Minimum Balance Requirements 2,500 to Rs. 1,00,000/-.
Which bank has 0 minimum 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
With a zero-balance savings account, most of the banks offer a free ATM-cum-debit card, passbook and cheque book. Also, facilities like internet and mobile banking are offered by several banks.
Which Bank is better Axis Bank or HDFC Bank?
Axis Bank with an average customer rating of 4.5 is equally comparable to HDFC Bank with an average customer rating of 4.5. Hence, the customer can expect the same kind of service levels from these banks.
You can be penalized for not keeping the minimum balance. There is no limit on the penal charges that a bank will charge for the non-maintenance of the minimum balance. The charges have to be approved by the bank's board. Charges will vary from bank to bank and from branch to branch as well.25-Feb-2022
Why Axis Bank is better than other banks?
Axis Bank's growth rate is faster than that of other private banks. Thrust on corporate clientele & superior quality of advances make the stock an attractive bet. Axis Bank, earlier known as UTI Bank, was one of the first private sector banks to set up in the 90s.28-Apr-2008
Disadvantages of Internet Banking
Are digital accounts safe?
The extra security of two-factor authentication This usually arrives by SMS on your mobile phone. This way even if someone has your password, they cannot access your account or make transactions without the passcode. You can only use each passcode once; you will get a new code every time you log in or make a payment.29-Sept-2022
All transactions you make take place in a very secure and encrypted medium, using advanced digital technology, which ensures that the data reaches from its start point i.e. the consumer point to the end point without being compromised.
Which bank is best for digital saving account?
Best Online Savings Account 2022
While there are several different types of savings accounts, the three most common are the deposit account, the money market account, and the certificate of deposit. Each one starts with the same basic premise: give your money to the bank and in return the money will earn interest.08-Mar-2019
What are the 4 types of savings accounts?
There are different types of savings accounts to choose from, and they're not all alike. The options include traditional savings accounts, high-yield savings accounts, money market accounts, certificates of deposit, cash management accounts and specialty savings accounts.22-Sept-2022
What is digital saving account in Axis Bank?