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.

Read More : Axis Bank Timings

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.
   
•  

 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. 

 Non-Maintenance Charges

Also Read : Axis Bank Customer Care Number 

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