Axis Bank Zero Balance Account – Features, Benefits & Application Guide

Vishal, a diligent employee at NPA in a local bank struggled to make ends meet. His modest salary barely covered his monthly expenses, leaving him constantly stressed. One evening, while scrolling through his phone during a rare moment of peace, he stumbled upon something interesting: Axis Bank’s Zero Balance Savings Account.

Curious by the “zero minimum balance” feature, Vishal calculated how much he could save. His local bank required a minimum balance of ₹5,000, which he could never afford to fall below. Switching to Axis Bank’s Zero Balance Account meant he could use that ₹5,000 for emergencies or even invest. If he chose to put that ₹5,000 in a simple FD with a 6% annual interest rate, he’d earn ₹300 in a year without doing anything.

For Vishal, it wasn’t just about saving money but mental peace. The small switch gave him more control over his finances and a newfound sense of relief.

Axis Bank Zero Balance Account Overview

For individuals seeking freedom without a minimum amount, Axis Bank provides zero-balance savings accounts such as the Amaze Zero amount savings account and basic savings account. The Amaze account offers perks like a virtual debit card, Uber discounts, and 2,000 EDGE REWARD points for ₹20,000 spent monthly, with a ₹10,000 deposit required at activation.

Read More – Axis Bank Account Opening

A free RuPay debit card, free cash deposits, and internet/mobile banking access are all included in the Basic Savings Account, which has no minimum balance requirements. Convenient access to Axis Bank’s vast branch and ATM network is provided by both accounts.

Types of Axis Bank Zero Balance Account Overview

Axis Bank offers two primary zero-balance savings accounts:

Amaze Zero Balance Savings Account

• Initial Funding: It requires an initial deposit of ₹10,000, which can be withdrawn once the account is activated.
  
  
• Rewards: Earn 2,000 EDGE REWARD points monthly by spending ₹20,000 with the Online Rewards or E Rewards Debit Card, and UPI payments via Axis Pay or the mobile banking app.
  
  
• Additional Benefits: You get access to over 250 banking services, including free domestic transactions and welcome benefits on food, entertainment, and travel, for a monthly fee of ₹200.

Basic Savings Account

• Minimum Balance: No requirement to maintain a minimum balance.

• Debit Card: It comes with a complimentary RuPay debit card.

• Banking Services: It includes free cash deposits and access to Internet and mobile banking services, ensuring easy management of finances.

Both accounts offer a smooth and practical banking experience by giving users access to Axis Bank’s vast branch and ATM network throughout India as well as digital banking features. 

How to Open Axis Bank Zero Balance Account Online & Offline

Opening an Axis Bank zero-balance account can be accomplished through both online and offline methods:

Online Process

• Visit the official website: Go to the Axis Bank’s Amaze Zero Balance Savings Account Page.

• Initiate Account Opening: Click on the “Open Account Now” on the right side corner.
  
  
• Complete the Application: Fill in personal details,  your verification such as PAN number, and mobile number, click on I agree to terms and conditions below and your consent to open a digital savings account. Click on Proceed.
  
  
• Video KYC: Undergo a video KYC (Know Your Customer) process, where a bank representative will verify your identity via a video call. 
  
  
• Initial Funding: Deposit an initial amount of ₹10,000, which is withdrawable post-account activation. 
  
  
• Account Activation: Upon successful verification and funding, your account will be activated, and you will receive a virtual debit card for immediate use.

Offline Process

• Visit a Branch: Go to the nearest Axis Bank Branch.

• Fill Out the Application: Request to complete the account opening form, selecting the zero-balance account option.
  
  
• Submit Documents: Provide necessary KYC documents, including proof of identity and address.
  
  
• Initial Deposit: Make the initial deposit of ₹10,000, which can be withdrawn once the account is active.

• Account Processing: The Bank will process your application, and upon approval, your account will be activated.

Axis Bank Zero Balance Account Fees & Charges

Axis Bank Zero-Balance Account Interest Rates

Eligibility Criteria for Axis Bank Zero-Balance Account Opening

Required Documents for Axis Bank Zero-Balance Account Opening

Tips

• Ensure Document Validity: Make sure that the documents you submit are up to date and not expired.
  
  
• Aadhaar Card: The Aadhaar card is a commonly accepted document for both identity and address proof. Ensure that the address on your Aadhaar card is correct.
  
  
• Multiple Options: You have flexibility in choosing documents for both identity and address proof. Choose the ones you have readily available.
  
  

Axis Bank Zero Balance Account Helpline

For assistance with Axis Bank's zero-balance accounts, you can reach their customer care through the following channels:

Phone Banking

• Toll-Free Numbers: Dial 1860-419-5555 or 1860-500-5555 for account-related inquiries. These lines are available from 8:00 a.m. to 8:00 p.m., Monday to Saturday (excluding national holidays).
  
  
• Emergency Helpline: To report a lost or stolen card, call the 24/7 emergency helpline at +91-22-6798-7700.
  
  

Missed Call Service

• Balance Inquiry: Give a missed call to 1800-419-5959 from your registered mobile number to receive your account balance via SMS.
  
  
• Mini Statement: For a mini statement, give a missed call to 1800-419-6969.
  
  

Please note that these missed call services require prior registration for SMS banking.

Online Support:

• Contact Form: Visit the Axis Bank Contact Us page to fill out an online query form for personalised assistance.
  
  
• WhatsApp Banking: Add 7036165000 to your contacts and send "Hi" from your registered mobile number to start a conversation.

For a comprehensive list of services and more information, please refer to Axis Bank's Personal Phone Banking page.

Also Read – Axis Bank Select Credit Card Lounge Access

Axis Bank Zero Balance Account Welcome Kit

The welcome kit for the Amaze Zero Balance Savings Account from Axis Bank includes:

• Welcome Letter: Details about the account features and instructions for activation.
• Debit Card: Free physical debit card along with cheque book and other essentials.
• Virtual Debit Card: Instant access to digital transactions post-activation.
• Mobile & Internet Banking Credentials: To enable online access.

Benefits and Features Information:

• Zero Balance Account with a maintenance fee of ₹200/month or ₹2,200/year.
• Debit card benefits and annual rewards worth ₹1,000.
• No charges on domestic transactions and usage of Axis Bank ATMs.
• 2,000 EDGE REWARD points monthly on spending ₹20,000.
• Access to over 250+ banking services.

The welcome kit ensures immediate access to all essential services and benefits.

Conclusion

Axis Bank's zero-balance savings accounts, such as the Amaze Zero Balance Savings Account and the Basic Savings Account, offer flexible banking solutions without the need to maintain a minimum balance. These accounts provide a range of benefits, including access to over 250 banking services, complimentary debit cards, and digital banking facilities. 

The Amaze account further enhances the banking experience with rewards and exclusive offers. These features make Axis Bank's zero-balance accounts a practical choice for individuals seeking convenient and cost-effective banking options.

FAQs Related to Axis Bank Zero Balance Account

Q. What is a zero balance account?

Axis Bank's AMAZE Zero Balance Savings Account is intended especially for consumers who want to enjoy stress-free banking without having to maintain a minimum balance. Other advantages include inexpensive initial capital, a rapid opening process, 250+ banking services, and annual benefits. 

Q. What is the minimum balance required in an AMAZE Savings Account?

Since the Amaze Savings Account has no balance, there is no requirement to keep a minimum balance in the account. All you require is a 10,000 rupee initial investment. 

Q. Does AMAZE Savings Account provide a complimentary credit card?

No, there isn't a free credit card offered. A credit card application must be submitted individually. Your income and credit score will determine if you are approved.

Q. What is the advantage of a zero balance Savings Account over other accounts?

By eliminating the hassle of keeping a minimum amount, a zero-balance savings account enables you to efficiently manage your money. Other advantages include the ability to access digital banking, opening an account with a small initial deposit, incentives and yearly perks. 

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