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    7. Axis Bank Saving Account|Types|Interest Rates|Documents |Min Avg Balance

    Axis Bank Saving Account|Types|Interest Rates|Documents |Min Avg Balance

    Updated on: 24 May, 2024 05:51 PM

    Axis Bank is the largest private sector bank in the country and is known as one of the fastest-growing banks, providing a wide range of products and services to its clients in the field of personal, corporate, and business banking. It sensed the different needs of the customers and designed its savings account services, keeping in mind the benefits for the customers and how to cater to different choices of the customers efficiently. Let’s understand the step-by-step details of the Axis Bank Saving Account-

    Contents

    Types of Axis Bank Savings Account

    1. ASAP Instant Savings Account

    ASAP Instant Savings Account Particulars
    Minimum balance requirement No minimum requirement
    Interest Rate 6.75%*
    Online daily purchase limit 100000/-
    Offers & Discount Rs 150 off on BookMyShow
    20% off on BigBasket
    Debit Card Virtual Visa Debit Card

    Axis Bank Instant Savings Account comes with the auto sweep facility that provides it the feature of an interest rate up to 7.25%(1 year FD Interest). Although normal Savings account offers interest up to 6% under Axis Bank. It’s a Zero Balance Saving Account.

    2. EasyAccess Savings Account

    EasyAccess Savings Account Particulars
    Minimum balance requirement Rs.10,000
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount -Minimum 50% off on all their partners’ restaurants
    -Axis eDGE Reward points
    Debit Card Rupay Platinum Debit Card
    Daily ATM Withdrawal limit Rs. 40,000

    3. Prime Plus Savings Account

    Prime Plus Savings Account Particulars
    Minimum balance requirement Rs. 10,000
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount -10% cashback on Movie Tickets
    -Earn up to 180 Axis eDGE Reward points annually
    Debit Card Visa Titanium Prime Plus
    Daily ATM Withdrawal limit Rs. 50,000

    4. Prime Savings Account

    Prime Savings Account Particulars
    Minimum balance requirement Rs. 25000
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount -Unlimited transactions of ATM at both Axis Bank and other banks’ ATMs
    -On Lockers and Demat accounts, preferential pricing is offered
    Debit Card Secure Plus
    Daily ATM Withdrawal limit Rs. 50,000

    5. Women’s Savings Account

    Women’s Savings Account Particulars
    Minimum balance requirement Rs. 10,000
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount A benefit of a 15% discount at over 4000
    Debit Card Visa Classic
    Daily ATM Withdrawal limit Rs.40,000

    6. Senior Privilege Savings Account

    Senior Privilege Savings Account Particulars
    Minimum balance requirement Metro-10,000<
    Semi-urban-5000
    Rural- 2500
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount Higher FD Rates*
    Debit Card Visa Classic
    Daily ATM Withdrawal limit Rs. 40,000

    6. Senior Privilege Savings Account

    Senior Privilege Savings Account Particulars
    Minimum balance requirement Metro-10,000<
    Semi-urban-5000
    Rural- 2500
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount Higher FD Rates*
    Debit Card Visa Classic
    Daily ATM Withdrawal limit Rs. 40,000

    7. Future Stars Savings Account

    Future Stars Savings Account Particulars
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount Personalized image debit card
    Children under 10 years of age are provided with free ATM card
    Debit Card Visa Classic
    Daily ATM Withdrawal limit Rs. 1500
    Eligibility Children (Under 18 years)

    8. Pension Savings Account

    Pension Savings Account Particulars
    Minimum balance requirement Zero Balance Savings Account
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount N.A.
    Debit Card Visa Classic
    Daily ATM Withdrawal limit Rs. 40,000

    9. Trust/NGO Savings Account

    Trust/NGO Savings Account Particulars
    Minimum balance requirement Rs. 25000
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount Axis eDGE Reward points
    A benefit of a 15% discount at over 4000 restaurants
    Debit Card Visa Classic
    Daily ATM Withdrawal limit Rs. 40,000

    Under this account, banking services are provided to NGOs, Government bodies, societies, Section 25 organizations, and Trusts. Axis Bank delivers an MIS with detailed information on all the transactions for a month so that trusts can get the receipts for donors.

    10. Youth Savings Account

    Youth Savings Account Particulars
    Eligibility Individuals between the age group of 18-25 years
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount 4 free cash transactions per month
    Debit Card Visa Classic YOUth Card
    Daily ATM Withdrawal limit Rs. 40,000

    11. Basic Savings Account

    Basic Savings Account Particulars
    Minimum balance requirement Zero Balance Savings Account
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount N.A.
    Debit Card Rupay Debit Card
    Daily ATM Withdrawal limit Rs. 40,000

    12. Small Basic Savings Account

    Small Basic Savings Account Particulars
    Minimum balance requirement Zero Balance Savings Account
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount N.A.
    Debit Card Rupay Debit Card
    Daily ATM Withdrawal limit Rs. 40,000

    13. Inaam Personal Account

    Inaam Personal Account Particulars
    Minimum balance requirement Zero Balance Savings Account
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Offers & Discount Reward points under Axis eDGE
    A benefit of a 15% discount at over 4000
    Debit Card Visa Classic Debit Card
    Daily ATM Withdrawal limit Rs. 40,000

    14. Pradhan Mantri Jan Dhan Yojna(PMJDY)

    Pradhan Mantri Jan Dhan Yojna(PMJDY) Particulars
    Minimum balance requirement Zero Balance Savings Account
    Interest Rate 3.5% Interest-On Balance less than 50 lakh
    4% Interest-On balance of 50 lakh but less than 100 crore
    6% Interest- On or above the balance of 100 crore
    Debit Card Free Rupay Debit Card
    Eligibility Indian Resident above 10 years of age

    How to open Axis Bank Savings Account (Online)?

    • By using the web portal of Axis Bank, customers can open the savings account as per their requirement and preference.
    • Click on the Apply Online to fill out and submit the application form to open the savings account.
    • Further personal details such as Name, Address, Telephone No, preferred branch, city, and the type of Savings Account you need to open is required to enter.
    • After verification of the form, it needs to be submitted.
    • Required documents also need to be submitted along with the application form.
    • After completing the whole process, the bank will provide you with a welcome kit along with the Debit card.

    How to open Axis Bank Savings Account (Offline)?

    Visit the nearest Axis Bank branch with your all the KYC documents. Contact the bank executive. He'll provide you an application form. Fill all the information correctly, provide the required documents and submit it. After completion of the verification process from the bank, you will be provided with the welcome kit along with your Debit card and net banking details.

    Saving Account Interest rates w.e.f 1st May 2018

    Saving Account Balance Interest Rate
    On Balance less than 50 lakh 3.5%
    On a balance of 50 lakh but less than 100 crore 4%
    On or above the balance of 100 crore 6%

    On the basis of the bank policy, the interest rate of the savings account can be renewed at any time.

    Documents Required to Open a Saving Account

    The following documents are needed to open a Saving Account in Axis Bank-

    • Identity Proof
      • PAN
      • Adhaar Card
      • Passport
      • Voter's Identity Card
      • Driving License(DL)
    • Address Proof
      • Ration Card
      • Gas Connection registered documents
      • Electricity bill
      • The rent agreement shows the address
    • 2 passport size photos

    In case if you want to close your Axis Bank Saving Account then an amount of Rs.500 will have to be pay by you as account closure charges.

    Struggling with e-filing your income tax return? Let our team of experts help you maximize savings and file your ITR accurately. Book eCA today!

    Read More-
    Everything You want to know about Savings Account
    All you want to know about State Bank of India Savings Account

    Frequently Asked Questions

    Q- What is Axis Bank savings account interest rate?

    The interest rate on an Axis Bank Savings Account depends on your monthly balance:

    • If you maintain a balance of less than Rs. 50 lakhs, you'll earn between 3% and 3.5% interest annually.
    • For balances between Rs. 50 lakh and Rs. 10 crore, the interest rate goes up to 4%.

    Q- What is zero balance saving account in Axis Bank?

    Axis Bank offers a zero-balance savings account called the AMAZE Savings Account. Unlike a traditional savings account that might require a minimum balance to avoid fees, the AMAZE account allows you to maintain a zero balance without any penalty.

    Q- What are Axis Bank saving account charges?

    Axis Bank charges for savings accounts can vary depending on the specific account type and the services you use.

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    CA Abhishek Soni

    Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2Win.in. Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.

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