Axis Bank Minimum Balance: Charges, Rules & Account Types

Key Takeaways

• Axis Bank requires different minimum balances depending on the type of account.
   
• Zero balance options are available for small savers and students.
   
• Non-maintenance charges apply if the required balance is not kept.
   
• Salary accounts have their own eligibility and balance rules.
   
• Digital tools like mobile apps and net banking make checking balances easy.

Bonus: Axis Bank requires a minimum balance of ₹2,00,000 for Priority Savings Accounts, with a penalty of 6% on shortfalls, capped at ₹600. It was effective from 1 April 2024.

Axis Bank Minimum Balance is the lowest amount an account holder must keep in their savings or salary account to avoid penalty charges.

Govindan wants to open a fixed deposit in Axis Bank for the amount ₹ 10,00,000. So he goes to the bank and enquires about the suitable savings for him. The customer relationship manager suggests opening an Axis Bank Prestige Account.

The bank personnel created for him a fixed deposit of ₹ 10,00,000 at 7.15% for 3 years. So the total interest rate is ₹ 71,500. Govindan converted it into per month:

• ₹ 5,958.33 of interest for each month.

Govindan enquires about the minimum balance amount of his prestige account, to which the bank personnel informs him that a minimum of ₹ 75,000 or ₹ 3,00,000 as term deposits in other forms needs to be maintained in the Axis Bank.

This blog explains the Axis Bank Minimum Balance. 

What is the Minimum Balance in Axis Bank?

Axis Bank has different types of savings accounts, catering to the needs of its customers. Each savings account has its own monthly balance, which needs to be maintained by its accountholder. For Govindan, the monthly balance is ₹ 75,000.

Suppose, if Govindan has a Small Basic Savings Account from Axis Bank, he does not need to maintain any minimum balance. Likewise, other types of savings accounts come with their unique and distinct features.

Example: Axis Bank Liberty Savings Account requires its account holder to maintain ₹ 25,000 in a month.

 Minimum Balance Requirement by Different Savings Accounts

1. Prestige Savings Account

Govindan opened this account with the ID Proof, Address Proof, and other required documents. For this savings account, he needs to maintain a monthly balance of ₹ 75,000. He is also entitled to receive the following benefits:

• Govindan can conduct up to 30 cash transactions at both Axis and non-Axis Bank ATMs.
   
• He can have free online NEFT and RTGS transactions.
   
• Entitled to have unlimited DD (Demand Draft).
   
• Govindan can have his free cheque books.
   
• Special discounts, such as 10% cashback from this account’s ATM card.
   
• Personal Accident Death Coverage for ₹ 10,00,000.
   
• Air Accident coverage of ₹ 1 crore.
   
• Govindan can receive a 12-month free subscription to SonyLIV at ₹1,499 within 30 days of card activation.
   
• He is also entitled to 2.75% interest on every financial quarter.

 2. Axis Bank Small Basic Savings Account

This is a zero-balance account, and is suitable for Govindan. Some benefits can be availed by him on choosing this savings bank account:

• He can earn 3% or 4% interest on daily balances or quarterly.
   
• Daily withdrawal limit of ₹ 40,000 at the ATM
   
• Govindan can enjoy shopping up to the limit of ₹ 1,00,000.
   
• Eligible for personal accident insurance coverage of ₹ 1,00,000.
   
• Govindan can get a free RuPay Debit Card.

 3. Axis Bank Basic Savings Account

Govindan can also choose this savings account, as it comes with a zero balance permissible. The following features can be enjoyed by this account holder:

• In this account, too, he can earn 3% or 4% interest on daily balances or quarterly.
   
• Like the previous one, the daily withdrawal limit is ₹ 40,000 at the ATM.
   
• The limit of ₹ 1,00,000 is provided for shopping.
   
• Govindan can have a free cash deposit.

 4. Axis Bank Liberty Savings Account

Under this savings account type, Govindan is expected to maintain a monthly balance of ₹ 25,000. The debit card associated with this savings account comes with various offers and discounts. Likewise, there are other benefits that Govindan can avail of:

Govindanis is entitled to have a 5% cashback on a debit card.

• A gift voucher of ₹ 750.
   
• Daily withdrawal limit of ₹ 50,000 at the ATM
   
• Govindan can enjoy shopping up to the limit of ₹ 3,00,000.
   
• He can have a 15% special discount at select partnered restaurants.

Govindan now wonders if Axis Bank have different types of salary accounts! But the answer is positive, as there are different types of salary accounts.

 1. Burgundy Salary Account

It is an elite account, and Govindan finds that the account holder needs to maintain a monthly salary of ₹ 3,00,000. The following benefits that the accountholder can enjoy:

• The accountholder can have a cash withdrawal limit of up to ₹ 3,00,000.
   
• They can also shop up to the limit of ₹ 6,00,000 from the account’s debit card.
   
• The account holder gets 60% off on the locker fees.
   
• Eligible for personal accident insurance coverage of ₹ 15,00,000.
   
• Air accident coverage for ₹ 1 crore.

 2. Prestige Salary Account

For this account, Govindan should have at least a minimum of ₹ 50,000 as salary and up to the limit of ₹ 1,00,000. There are some benefits that the accountholder can enjoy:

• Govindan can have a 12-month free subscription on SonyLIV at c. 1,499 within 30 days of card activation.
   
• Special discounts on Swiggy with a minimum purchase of ₹ 500.
   
• The account holder gets one free movie ticket if bookings are made through the District App.
   
• The accountholder can save ₹ 1,000 at AJIO if the minimum purchase is ₹ 2,999.
   
• 3% interest on the account balance.
   
• Eligible for personal accident insurance coverage of ₹ 10,00,000.
   
• Air accident coverage for ₹ 1 crore.
   
• Free as well as unlimited DDs, chequebooks, and online NEFT/RTGS transactions.
   
• The cardholder gets Cashback offers such as 1% on fuel, 2% on shopping and 3% on travel.

 Non-Maintenance Charges

There are non-maintenance charges that Govindan should need to understand, irrespective of its account types:
 

 
The salary account also attracts non-maintenance charges

• For non-payment of salary, the bank can charge ₹ 100 per month. This becomes applicable if the salary is not credited for two consecutive months.
   
• Suppose, if the salary account is treated like a savings account, after stopping the credit of salary, the following penalties are levied:
   
• A penalty of 6% of the shortfall amount in the metro or urban branch, with a maximum of ₹ 600.
   
• A penalty of 6% of the shortfall amount in the semi-urban branch, with a maximum of ₹ 300.
   
• A penalty of 6% of the shortfall amount in rural areas, with a maximum of ₹ 250.

 How to Check Your Monthly Average Balance in Axis Bank?

1. Mobile Application

Govindan can check his bank balance from Axis Bank’s mobile application, named Axis Mobile.

He can navigate it to the balance checking option, to know his total monthly balance, such as:

• Available Total Balance: ₹ 19,369.54

2. Internet Banking

From the official internet banking portal, Govindan can check the monthly bank balance. He should have a net banking username and password to log into its portal. After logging in, he should go to the balance checking section to view his total monthly balance, such as:

• Total Balance as on 10.06.2025: ₹ 45,789.12

3. Bank Passbook

Govindan should visit his home branch and print his passbook to know his bank balance. He can also do it at the ATM.

• Example: The passbook shows today’s date (15.06.2025) and total balance (₹ 45,789.12)

How to Avoid Minimum Balance Penalties?

Govindan can avoid minimum balance penalties in the following ways:

• Choosing a zero-balance account
   
• Checking the monthly balance

Example: Suppose he opens a prestige savings account, and should maintain at least ₹ 75,000.

Conclusion:

Axis Bank offers different savings and salary accounts, each with its own minimum balance rules. Some accounts, like the Small Basic Savings Account, have zero balance, while others, like the Prestige Account, need up to ₹75,000. Not keeping the required balance can lead to penalty charges. Govindan can avoid these charges by choosing the right account and regularly checking his balance using mobile, internet banking, or a passbook.

FAQs

Q. Is internet banking mandatory?

Internet banking is not mandatory. But the account holder should learn to use it for cash transactions.

Q: What is the lowest balance rule?

The lowest balance rule limits a beneficiary’s claim to the lowest balance held in a mixed account, protecting unsecured creditors.

Q: What is a rolling charge?

A rolling charge distributes each outgoing payment from a mixed account proportionally (pari passu) among all current beneficial owners.

Q: What is a resulting trust?

A resulting trust is imposed by law to return trust property to the settlor when the trust’s purpose is unclear or incomplete.

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