What is small basic account in Axis Bank?

What is small basic account in Axis Bank?

The Small Basic Savings Account offers you hassle-free savings benefits with zero minimum balance requirements and covers you with personal accident insurance for Rs. 1,00,000. The benefits of the Small Basic Savings Account include a free RuPay Debit Card, monthly e-statements, passbook, etc.

How can I open a small basic savings account in Axis Bank?

To apply for the Small Basic Savings Account, submit the completed application form along with the relevant documents at your nearest Axis Bank branch. Download your Small Basic Savings Account application form here.

What is the minimum balance in Axis Bank savings account?

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.

Does Axis Bank offer zero balance account?

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 difference between normal and small account?

The small SB account is different from a regular account as it has various benefits for subscribers. It has maximum deposit limit and allows a certain number of deposits and withdrawals in the month that too for free of cost.27-Apr-2020

Which bank is best for basic savings account?

Best Zero Balance Savings Account 2022

• Featured Partners.
• Best Zero Balance Savings Account.
• IDFC FIRST Bank Pratham Savings Account.
• Equitas Selfe Savings Account.
• Axis Bank PRIME Savings Account.
• Indus Delite Savings Account (IndusInd Bank)
• Kotak 811 Full KYC Account (Kotak Mahindra Bank)

Which is best small savings scheme?

Small Savings Schemes: Postal Schemes, PPF, NSC, Post Office Monthly Income/Time Deposit Scheme, Senior Citizen's Savings Scheme,Post Office Savings Account.

What is SBA account type?

BARODA SUPER SAVINGS ACCOUNT 2) Chequebook : Unlimited free chequebook. 3) Debit Card : 6 variants of Debit Cards (free for 1st year) 4) Credit Card : BOBCARDS "Silver" for 1st year with accidental death insurance cover of Rs. 1 lakh (provided by BOBCARDS Ltd.) under credit card scheme.

Who is eligible for a basic bank account?

* Basic bank accounts are intended for customers who qualify for a concession card issued by the Government such as a Pensioner Concession Card, Health Care Card or Commonwealth Seniors Health Card. They are aimed at ensuring those on lower incomes have access to affordable banking services.

What if minimum balance is not maintained in Axis?

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.

What is a basic savings account?

Basic savings accounts pay a nominal interest rate, but offers the most flexibility and has a low minimum balance requirement. They are one of the most “liquid” options, meaning you can withdraw your money at any time without limit or waiting.

Which bank has lowest minimum balance?

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 in Axis India?

Axis Bank Minimum Balance Requirements 2,500 to Rs. 1,00,000/-.

How can I know my Axis minimum balance?

Missed Call Service

• Dial 1800 419 5959 to get your Account Balance.
• Dial 1800 419 6969 to get your Mini Statement.
• Dial 1800 419 5858 to get your Account Balance in Hindi.
• Dial 1800 419 6868 to get your Mini Statement in Hindi.
• Dial 08049336262 to recharge your mobile instantly.

Which type of Axis bank account is best?

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 the maximum balance in small account?

Balance at any point of time should not exceed Rs 50,000/-. Aggregate of all withdrawals and transfers in a month should not exceed Rs 10,000/-.09-Feb-2022

What are 2 basic bank accounts?

The most common types of bank accounts include: Checking accounts. Savings accounts.25-Jul-2022

What are the restrictions in small account?

Restrictions and special conditions 2.2 Aggregate of all withdrawals and transfers in a month should not exceed Rs. 10,000/-. 2.3 Balance in this Account at any point should not exceed Rs. 50,000/-.

Are basic bank accounts free?

Basic bank accounts are free for day-to-day banking, but still have a few fees. Banks can't charge you for the day-to-day running of a basic bank account. For example, you can't be charged for an unpaid direct debit or standing order, or charges for going into your overdraft (you won't have this facility anyway).04-Oct-2022

Which bank account is cheapest?

Best no-fee checking accounts

• Best overall: Capital One 360® Checking Account.
• Runner-up: Ally Interest Checking Account.
• Best for rewards: Discover Cashback Debit Account.
• Best for out-of-network ATMs: Alliant Credit Union High-Rate Checking Account.
• Best for students: Chase College Checking℠ Account.

What are the disadvantages of a basic bank account?

Disadvantages of a basic bank account

• No overdraft means no flexibility to borrow money for a short period.
• Won't offer as many perks and rewards as some standard current accounts.
• Often won't pay interest on the money you have in the account.

What is small basic account in Axis Bank?