What is Axis Bank Account Minimum Balance?

Axis bank account minimum balance depends on the different types of savings and current accounts. As Axis Bank is one of the leading banking and financial services institutions. As this is the largest third private sector bank in terms of assets and the fourth largest in the market of capitalization. 

Overview

The Axis Bank was established on the 3rd of December 1993  in Mumbai, this bank has 5100+ branches all across India and it serves almost 1 billion customers. This bank provides 3.00% p.a. Interest to its savings account holders for deposits less than INR 50 lakh. 

So if you are planning to open a savings account, then check out the bank savings account interest rate, schemes available, and many more. Here the bank savings account can be accessed at any of the country's 11,500 Axis Bank ATM or 2300 Axis Bank location. 

So in most cases, Axis Bank waives the minimum balance which is required if the account holder has a fixed deposit or recurring deposit with the bank for at least a year. So here we will cover most of the basic topics that you have to know about in this blog, so let’s have a look at it.

Axis Bank Saving Account

Here, Axis Bank offers a wide variety of savings account options which allows customers to save money and gain interest at an attractive rate. So the minimum deposit amount depends on the account type while there is no maximum threshold for the upper limits.  

Moreover, in this bank, you can find multiple savings account options that you can choose from as per your requirements or preferences. Here, are some of the most popular savings accounts are given below.

Basic Saving Account

Axis Bank's basic savings account mitigates the need which maintain a minimum balance, so it features free cash deposits, a mobile, RuPay debit card, and net banking, along with access to multiple ATMs and the all branches which is all across India.

Easy Access Saving Account

Here in this Savings account, they enable you to conduct all the customer transactions with a few the help of few clicks on your mobile phone, as it has a low opening deposit and comes with a secure plus debit card and personal accident insurance covers.

Senior privilege saving account

Here for all the senior citizens out there, the Axis Bank senior privilege savings account can be a perfect choice, as it offers the following benefits which given below, let’s have look on the following benefits:

• They offer their customer 24/7 hour banking assistance.
• They have a low opening deposit.
• The bill payments facility at branches.
• Here in a savings account, they have up to 0.75% additional interest rate for the recurring and fixed deposits.
• They offer a power-backed debit card.
• They offer a personal death which is covered up to INR 2,00,000 and more than this.
• Here they offer an exclusive senior ID card for priority and preferential treatment at the branches.

Prestige Saving Account

Prestige Savings account, is one of the premium savings bank account schemes Axis Bank offers, as here this Prestige cashback debit card offers cashback which is worth INR 1,500 per quarter on shopping, fuel, and travel. So here you will get the express 24/7 hour banking assistance, entertainment benefits, and the convenience of pricing on lockers.

Liberty Saving Account

Here in this Savings Account, you must have the freedom to spend INR 25,000 or you can keep INR 25,000 as the minimum balance per month, as the Liberty debit card provides a flat 5% cashback on the weekends for food, shopping, travel, and entertainment.

Priority Digital Saving Account

Here in this savings account, Axis Bank aims to provide you with the most amazing banking experience, here you will get a complimentary Axis Bank Instant Virtual Debit Card with 1% cashback on online spending. Moreover, here you can get exclusive offers on travel, lifestyle, and many more with a priority card.

Burgundy Digital Savings Account

In this savings account, if you are a Non-resident (NRI), Burgundy Digital Savings Account is for you, so this account is in NRO and NRE variants and then offers wealth management solutions, complimentary airport lounge access, and many more, apart from this the Axis Bank offers several other saving bank accounts such as,

• Woman Saving Account
• Future Stars Saving Account
• Infinity Saving Account
• Youth Saving Account
• Prime Saving Account
• Pension Saving Account, etc

Axis Bank Minimum Balance for Saving Account

Here the minimum balance which is required for the different Axis Bank savings accounts, so here the given information in a table form, 

Account Types	Applicable charges
Burgundy Digital Savings Account	INR 10,00,000 Quartrly Average
Prestige Savings Account	INR 75,000 Month Average
Liberty Savings Account	INR 25,000 Per Month
Priority Digital Savings Account	INR 2,00,000 Quartrly Average
Basic Savings Account	Nil
Senior Privilege Saving Account	INR 12,000 for the metro and urban locations. INR 5,000 in semi-urban locations. INR 2,500  in rural locations.
Easy Access Savings Account	INR 12,000 for the metro and urban locations. INR 5,000 in semi-urban locations. INR 2,500  in rural locations.

Penalty for Not Maintaining Minimum Balance in Axis Bank Savings Account

Here, is the given information about the penalty for not maintaining a minimum balance in Axis Bank savings accounts, so here is the given information in a table, let’s have a look at the table.

Account Types	Applicable charges
Burgundy Digital Savings Account	N/A
Prestige Savings Account	INR 600
Liberty Savings Account	It varies between INR 600 to INR 250, depending on the Balance amount.
Priority Digital Savings Account	INR 600
Basic Savings Account	Nil
Senior Privilege Saving Account	It varies depending on the balance amount as follows: Here between INR 600 to INR 50 in metro and urban locations. Here between INR 300 to INR 50 in semi-urban locations. Between INR 150 to INR 75 in rural locations.
Easy Access Savings Account	It varies depending on the balance amount as follows: Here between INR 600 to INR 50 in metro and urban locations. Here between INR 300 to INR 50 in semi-urban locations. Between INR 150 to INR 75 in rural locations.

Axis Bank Saving Account charges and fee

However, there are various applicable Axis Bank saving account charges which are mentioned in the table which is given below.

Particular	Types of Account	Applicable fees
Branch RTGS charges	Here for all the savings accounts except the Basic savings account and the Burgundy account	INR 2,00,000 to INR 5,00,000 - INR 20,00,000, and more than INR 5,00,000 - INR 45,00,000
Branch NEFT charges	Here for all the savings accounts except the Basic savings account and the Burgundy account	Upto INR 10,000 - INR 2,00,000, INR 10,001 to INR 1,00,000 - INR 4,00,000, INR 1,00,001 to INR 2,00,000 - INR 14,00,000 more that, INR 2,00,000 - INR 24,00,000
Cheque Return financial reasons	For all the savings accounts except the Burgundy account	1st return - INR 500, 2nd return onward INR 550
Cheque Return non-financial reasons	For all the savings accounts except the Burgundy account	INR 150 per instance
Deliverable  return charges	For all the savings accounts except the Burgundy account	Upto INR 10,000 - INR 50,00,000,  INR 10,000 to INR 20,00,000 - INR 5 per 1000 (minimum INR 75 and the maximum INR 7500) INR 20,00,000 to INR 1,00,00,000 - INR 5 per 1000 (maximum INR 10,000), Above INR 1,00,00,000 - INR 5 per 1000 ( maximum INR 15000)
DD Issuance Charges	For all the savings accounts except the Burgundy account	INR 50 per instance
NACH Debit  Failure	For all the savings accounts except the Burgundy account	1st return - INR 500, 2nd return onward INR 550

Transaction limit of Axis Bank Saving Account

Here the mentioned details are below given the monthly cash withdrawal limits for the Axois Bank savings account, so let’s have a look at a table.

Particulars	Monthly Withdrawl Limits
The monthly free limit for third-party cash transactions	Post-free limits - INR 10 per INR 1,000 or part, subject to a minimum of INR 150 Free monthly limit- INR 25,000
Monthly free cash transaction limit, here the sum of the total of deposits and the withdrawals	4 Per Month with a max of INR 1,00,000

Interest Rate of Axis Bank Saving Account

Here are the ongoing interest rate of Axis Bank's savings account is given below,  but note, that the interest for senior citizens is the same as provided in the given below table.

Account Balance	Interest Rate
INR 2,000 Cr. and Above	Overnight MINOR + 0.70%
INR 50,00,000 to less than INR 2,000 Cr.	3.50% Per Annum
Lesser than INR 50,00,000	3.00% Per Annum

Axis Bank Current Account

Here, Axis Bank offers a wide variety of current account options which allows customers to make a kind of bank account that is more fitting for the business and the professionals. So the minimum deposit amount depends on the account type. 

Moreover, in this bank, you can find multiple current account options that you can choose from as per your requirements or preferences. So here, are some of the most popular Current accounts given below.

Normal Current Account

In a normal current account, they render optimal value for the company money with cash, fund transfer services, and non-cash, so it offers a free cash deposit per month for the money and the non-home branch cash deposit, as the option of unlimited daily inter-city withdrawal.

Local Current Account

Here, in this current account, they offered the minimum balance requirement, where they render a range of services that are appropriate for the local business requirements of the customers, so this offers many benefits.

• Here you can purchase free transactions.
• Here they provide you with an Axis eDGe reward.
• There is a zero balance facility.
• Here they offer rebates on annual charges 

Business Advantages Current Account

In this current account they offered a cater to the diverse baking needs of every business by rendering a host, where the average balance is to maintained here is higher when compared to the above accounts as the account holder which needs to maintain an average balance of INR 25,000. 

Axis Bank Minimum Balance for Current Account

Here is the minimum balance that is required for the current account in Axis Bank, is given below in a table form.

Account Types	Applicable charges
Normal Current Account	The Monthly Average Balance required INR 15,000 for the metro and urban locations. INR 7,500 in semi-urban and rural locations. Deposit cash limit INR 2,00,000.
Business Advantage Current Account	N/A
Local Current Account	INR 25,000 Per Month

Conclusion

In conclusion, here we have mentioned all such details, that you have to know about the Axis bank account minimum balance. And also discusses types of savings and current accounts, charges and fees, penalties, and many more. We hope the given information in this blog about “  Axis bank account minimum balance” is helpful and informative.