Question: What Is The Charge For Not Maintaining Minimum Balance In Axis Bank?

What happens if minimum balance is not maintained in Axis Bank?

Few lenders such as Bank of Maharashtra, Kotak Mahindra Bank and, Axis Bank have revised their charges for non-maintenance of minimum balance effective August 1, 2020.

If a customer fails to maintain this amount in an account, the bank will now charge a penalty of up to Rs 75 per month..

What is the minimum balance required in Axis Bank?

Axis Bank Minimum Balance Requirements The minimum balance amount ranges from as low as Rs. 2,500 to Rs. 1,00,000/-.

What is the penalty for not maintaining minimum balance in Canara Bank?

If you are not maintaining an average monthly balance Rs. 5000 (Urban/Metro Branches) and Rs. 1000 (Rural/Semi-Urban Branches), then you will be charged Rs. 60 per day and Max: Rs.

What is minimum balance in CBI?

Rs.50Minimum balance of Rs. 50/- No service charges for non maintenance of the minimum balance. 50 (Fifty) withdrawals per year free of charge.

Which Axis bank account is best?

Prime Savings AccountUnlimited (free) cheque books, without any charge.Unlimited (free) Demand Draft (DD), without any charge.A Secure Plus Debit Card, at a zero issuance fee.Daily withdrawal limit of Rs 50,000 at ATMs.Daily limit of Rs 75,000 on shopping transactions.Earn Axis eDGE Reward points.More items…•

Can I convert my salary account to zero balance account?

Accounts Topics Also, you would be unable to convert your existing account to a zero balance account. We would advise you to convert the existing salary account to general savings account, with a monthly average balance to be maintained at minimum of Rs. 10,000.00 or as applicable.

Which bank is best for zero balance account?

8 Best Zero Balance Savings Account In IndiaIDFC First Bank Pratham Savings Account. … YES Bank Smart Salary Advantage. … IndusInd Bank-Indus Online Savings Account. … DBS-DigiSavings. … Kotak Mahindra Bank-811 Digital Bank Account. … HDFC Bank – Basic Savings Bank Deposit Account. … SBI – Basic Savings Bank Deposit Account. … Standard Chartered Basic Savings Bank Deposit Account.

How can I open a zero balance account?

Features of Basic Savings Bank Deposit AccountThis account variant can be opened by any individual provided he or she has valid KYC documents.No upper limit to maximum balance in the account.Get a basic Rupay ATM-cum-debit card.The withdrawals can be done using withdrawal form at branches or through ATMs.More items…•

Does Axis Bank have zero balance account?

Axis Bank’s zero balance account offers a zero balance facility, a free debit card and unlimited free cash deposit. Axis Bank’s zero balance account allows you to access more than 12,000 Axis Bank ATMs, over 2,500 Axis Bank branches as well as internet, mobile and phone banking services.

How can we avoid minimum balance charges?

Pay your bills online. If you use your bank’s online bill paying features, you can often avoid minimum balance fees. Even if you use the online bill paying as infrequently as once a month, many banks will credit this and will not charge the maintenance fees.

Is money in Axis Bank Safe?

Axis Bank is the third-largest bank in the private banking sector in India and hence it is very safe to invest. … The bank offers different loans and fee-based products and services to large and mid-corporate customers.

What is minimum balance in SBI?

Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas. Further, the bank used to levy a penalty of Rs 5 to Rs 15 + taxes on non-maintenance of average monthly balance as stated above.