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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-
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 |
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.
The following documents are needed to open a Saving Account in Axis Bank-
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.
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The interest rate on an Axis Bank Savings Account depends on your monthly balance:
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.
Axis Bank charges for savings accounts can vary depending on the specific account type and the services you use.
