Axis Bank Saving Account – Everything You Need to Know

New Delhi-based Ravi, a young professional, has been considering opening a savings account to manage his money better. A bank that provided ease, adaptability, and a smooth banking experience was what he was looking for. After investigating several possibilities, he found the “Easy Access Digital Savings Account” offered by Axis Bank.

Ravi chose to create an online account and was intrigued by the features. The procedure was simple: he filled out the required forms, deposited the initial amounts using UPI, and gave his PAN and Aadhar details. His account became active in minutes, and he was issued an instant E-Debit Card that allowed him to make purchases immediately.

Ravi could easily manage his costs because of the increased withdrawal and purchasing limits he received with his new Easy Access Digital Savings Account. 

Thanks to the Axis Mobile app, he could pay his bills, receive real-time information, and transfer money from the comfort of his home.

Ravi was sure that he had chosen the best decision for his financial requirements because of the effectiveness and ease of Axis Bank’s digital banking products.

Axis Bank Saving Account: An Overview

Axis Bank provides a diverse range of savings accounts personalized to meet various financial needs. Each account type brings unique features and benefits to enhance your banking experience. Here is an overview of some of the key savings account options:

Easy Access to Savings Accounts: 

• The flexibility to keep or spend ₹25,000 a month.
• 5% weekend cashback on dining, entertainment, shopping, and travel is available with the Liberty Debit Card.
• ATM transactions at any bank are free and unlimited.

Benefits:

• Annual savings worth ₹15,000.
• Gift voucher worth ₹750 on quarterly spends of ₹60,000.
  
  

Digital Savings Account:

• With video-based comprehensive KYC, you can open an account instantly and do away with paperwork.
• Instant issuing of a virtual debit card.

Benefits:

• Flat 10% cashback on Flipkart & Amazon.in via GRAB DEALS.
• ₹750 gift certificate for ₹60,000 in quarterly purchases.

Senior Privilege Savings Account:

Features:

• Designed specifically for senior citizens.
• Visa Platinum Debit Card with enhanced withdrawal limits.

Benefits:

• Priority services at branches.
• Exclusive offers and discounts are made for seniors.
• ₹1,500 is the daily ATM withdrawal limit. 
• Possibilities for a personalised image debit card.

Pension Savings Account:

Features:

• Specifically designed for retirees from the Central Government and Civil and Defense Ministries.
• There is no average quarterly minimum balance requirement for the pension amount.

Benefits:

• Central Civil Pension is disbursed directly into the account.
• Visa Classic Debit Card with a daily ATM withdrawal limit of ₹40,000.

You can choose an account that fits your lifestyle and financial objectives because each one is made to appeal to a particular consumer segment. You can go to Axis Bank's official website for more thorough details.

Types of Axis Bank Savings Accounts

Features of the Axis Bank Savings Account

Axis Bank Savings Account Opening Online & Offline

Axis Bank provides both online and offline methods to open savings accounts, providing flexibility to fit your preferences. 

Online Account Opening:

You can open a Digital Savings Account through Axis Bank’s online platform without visiting a branch. Here is a simple guide for you to follow:

Step 1: Visit the official website of Axis Bank.

Step 2: Now, you have to initiate the application, and for that, you have to click on the option to open a new account and provide your Aadhar number, PAN, and other basic details.

Step 3: Now, you will have to complete a video-based Know Your Customer (KYC); the process will be conducted to verify your identity. You must ensure that you have a device with a camera and a stable internet connection for this step.

Step 4: After successful verification, your account will be activated instantly. You will receive a virtual debit card immediately, and a physical one will be dispatched to your registered address.

Offline Account Opening:

If you like face-to-face interaction, you can open a savings account by visiting any Axis Bank branch.

Step 1: You must find the nearest Axis Bank branch using the branch locator on the website.

Step 2: You must carry the necessary documents, including proof of identity (such as an Aadhar card, passport, or voter ID), proof of address (like utility bills or rental agreements), and passport-sized photographs.

Step 3: At the branch, you must request a savings account opening form, complete it with accurate information, and submit it with your documents.

Step 4: The bank officials will verify your documents and process your application.

Step 5: Your account will be activated once your verification is done. You will receive your debit card and other account-related materials at the branch or by mail.

Document Required to Open a Savings Account with Axis Bank

You must submit specific paperwork to open a savings account with Axis Bank to meet the bank's Know Your Customer (KYC) regulations. Among the necessary documents are:

1. Proof of Identity (POI):

• Passport
• Voter ID card
• Driving license
• Aadhaar card
• PAN card
  
  

For address verification, you can provide:

• Utility bills (electricity, water, gas)
• Property tax receipts
• Rent agreement
• Passport
• Driving license

3. Permanent Account Number (PAN):

A PAN card is mandatory for opening a savings account.

4. Passport-Sized Photographs:

Recent passport-sized photographs are typically required.

Please note that different documentation may be needed based on your unique situation and the kind of savings account you want to open. For the most accurate and current information, visiting Axis Bank's official website or speaking with them directly is best.

Ensure all the paperwork is current and valid so the account opening procedure goes well.

Axis Bank Savings Account Interest Rate

As of January 8, 2025, Axis Bank provides the following interest rates on its savings accounts:

Axis Bank Savings Account Eligibility

The requirement is for a variety of savings accounts, each with specific eligibility criteria: 

• Residency: The individual must reside in India.
  
  
• Age: Applicants should be at least 18 years old. Minors can have accounts under guardianship.
  
  
• Existing Accounts: For certain accounts, such as the Basic Savings Account, the applicant should not hold any other savings account with Axis Bank.

Axis Bank Savings Account Fees and Charges

Fees and Charges

Region-wise details (AUTO APPLIED BASIS YOUR BRANCH SELECTION)
 

1. METRO

• Initial Funding: ₹ 16,000
• Average Monthly Balance (AMB): ₹ 12,000

2. URBAN

• Initial Funding: ₹ 15,000
• Average Monthly Balance (AMB): ₹ 12,000

3. SEMIURBAN

• Initial Funding: ₹ 6,000
• Average Monthly Balance (AMB): ₹ 5,000

4. RURAL

• Initial Funding: ₹ 3,000
• Average Monthly Balance (AMB): ₹ 2,500
• Debit Card Joining Fee: ₹ 590 (inclusive of GST)

Conclusion

To accommodate its customers' diverse demands, Axis Bank offers a large selection of savings accounts that can be customized. Axis Bank offers alternatives for everyone, whether you're looking for a premium account with extra advantages, a flexible, easy-access account, or an account designed for a particular demographic like youngsters or seniors. 

The qualifying requirements are obvious and simple to fulfil, and creating an account is a straightforward 
process that may be completed online or offline. You can visit the official Axis Bank website to learn more about the various savings accounts and their perks.

FAQs Related to Axis Bank Saving Account

Q. Types of Savings Bank Accounts available with Axis Bank?

To accommodate various needs, Axis Bank provides a variety of Savings Bank accounts. These include the following: Future Stars Saving Account, Women's Savings Account, Youth Savings Account, Trust/NGO Savings Account, Senior Privilege Savings Account, EasyAccess Savings Account, and Pension Savings Account.

Q. What is the transaction limit for the Axis Bank Prime Plus Savings Account?

You can make up to 20 free transactions at any Axis Bank branch each month. Transactions include requests for demand drafts and pay orders, as well as cash deposits and withdrawals.

Q. What does Axis Bank offer the different types of Savings Bank Accounts?

To accommodate different needs, Axis Bank offers a range of savings bank accounts. These include the following: Future Stars Saving Account, Trust/NGO Savings Account, Senior Privilege Savings Account, Women's Savings Account, YOUth Account, Pension Savings Account, EasyAccess Savings Account, and so forth.

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