Axis Bank Account Opening Form, Minimum Balance, Docs & Charges

Axis Bank Account Opening Online | Axis Bank Account Opening Form | Axis Bank Account Minimum Balance | Axis Bank Account Login

Customers at Axis Bank have access to a wide range of savings accounts, as well as personalized services and appealing benefits. On its savings account, the bank offers interest rates starting at 3.00 percent per year. Customers may plan and track their finances, as well as save a significant amount of money and earn interest on their savings. Customers of Axis Bank can open a savings account that is most suited for managing their finances from a variety of options. Customers can use any of the 11,500 Axis Bank ATMs or 2300 Axis Bank locations strategically situated around the country to access their savings accounts. In most circumstances, Axis Bank waives the minimum balance requirement if the account holder has had a fixed deposit or recurring deposit with the bank for at least a year. The article will provide details regarding Axis Bank Account Opening and related topics.

Axis Bank Account Opening

Revision of Interest Rates on Axis Bank Savings Bank Deposits

Interest Rates on Axis Bank Savings and Bank Deposits have been revised.

ParticularsRate of Interest
Saving Deposits Balance below Rs.50 lakh3.00% p.a
Saving Deposits Balance of Rs.50 lakh to Rs.10 crore3.50% p.a
Saving Deposits Balance of Rs.10 crore to Rs.100 croreRepo + (-0.65%) 3.75% is the applicable rate
Saving Deposits Balance of Rs.100 crore to Rs.200 croreRepo + (-0.25%)
Saving Deposits Balance of Rs.200 crore to Rs.2,500 croreRepo + (0.00%)

NOTE: The above rates are applicable as of October 20, 2020.

Axis Bank Internet Banking Login

What is Axis Bank Account Opening Online Process ?

Customers can use the Axis Bank web portal to compare and open an Axis Bank savings account of their choice. The website’s ‘Apply online’ function directs visitors to an application form that must be completed and submitted. Name, address, phone numbers, chosen branch, and city, as well as the type of savings account requested, must all be filled out. These particulars must be double-checked before being submitted. Along with the application, all required documents must be submitted. As part of the initiation program, Axis Bank sends new account holders a welcome kit. When a savings account is opened, a debit card is also issued, which is specific to the type of savings account chosen.

Axis Bank Savings Accounts Types

There Are Several Types of Axis Bank Savings Accounts

  • Easy Access Savings Account

Begin your savings adventure with the Easy Access savings account from Axis Bank, which pays 4% interest on daily balances and is paid quarterly. With Axis Bank’s internet and mobile capabilities, you may easily access your bank account and keep track of your account costs. In Metro locations, EasyAccess savings accounts require a minimum initial deposit of Rs 10,000. In most cases, a Visa Classic debit card is issued in conjunction with an EasyAccess savings account.

  • Prime Savings Account

With an Axis Bank Prime Savings Account, you’ll have more access and higher transaction limits. Along with a Prime savings account, a MasterCard Titanium Debit Card is given.

  • Future Stars Savings Account

With an Axis Bank Future Stars Savings Account, parents may plan and save for their child’s future. This account is intended for children under the age of 18 and must be managed by a parent or guardian. If the child is under the age of ten, a free ATM card with a daily withdrawal limit of Rs 1500/- and a checkbook in the guardian’s name will be supplied. In Metro cities, the Future Stars Savings Account requires a small starting deposit and a monthly balance of Rs 2500/-.

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  • Youth Savings Account

Be yourself! Manage your money with an Axis Bank YOUth Account, which includes a mobile banking app and a YOUth debit card with a variety of features and benefits. Create your own version of the Visa Classic Youth Card that comes with this account and customize it to your liking.

  • Women Savings Account

Axis Bank offers special savings account for women with a minimum beginning deposit of Rs 10,000/- and an average minimum balance requirement of Rs 10,000/- in metro cities.

  • Senior Privilege Savings Account

Senior individuals who create a Senior Privilege Savings Account will receive priority service at Axis Bank branches as well as interesting discounts and offers.

  • Pension Savings Account

The Pension Savings Account is established specifically for retirees from the Central Government, Civil Service, and Defense Ministries. The Central Civil Pension would be disbursed into this account, which does not have an average quarterly minimum balance requirement.

  • Insurance Agent Account

With a concessional minimum beginning deposit of Rs, 5000/-, this savings account has been established specifically for insurance agents. This account is accompanied by a Visa Classic Debit card.

  • Basic Savings Account

Axis Bank’s Basic Savings account comes with a free Rupay Debit card and a zero balance option. Customers can sign up for free SMS alerts as well as a passbook to keep track of their account activities.

Small Basic Savings Account

With an Axis Bank Small Basic Savings Account, you may start saving right away because there is no minimum balance requirement. This account comes with a RuPay debit card, and consumers may conveniently track their spending with monthly e-statements or passbooks.

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Pradhan Mantri Jan-Dhan Yojana (PMJDY)

Axis Bank also offers its customers the option of subscribing in the PMJDY plan, which provides rural residents with cheap banking, deposit, insurance, credit, remittance, and pension services. Interest is paid on accounts created under the PMJDY scheme at a rate of 4%.

If they do not have officially valid documentation for a regular account, those participating in the scheme are entitled to open a Basic Savings Bank Deposit Account or a Small Account.This account also comes with an overdraft and a chequebook, as well as the possibility of getting a RuPay Debit Card. Accidental Insurance cover for Rs 1 lakh and life insurance cover worth Rs 30,000 are available at no further cost or premium. This account also includes mobile banking through the use of an app that you can access after registering your phone number with the bank. Account holders can transfer their PMJDY account to any other Axis Bank branch without difficulty.

Inaam Personal account

Enjoy easy access to a variety of banking services with the Axis Bank Inaam Personal Account. You don’t have to worry about generating interest because this is a zero-interest account.Multi-channel banking allows account holders to perform safe financial transfers, make payments with ease, access mobile banking, get account details, SMS alerts, and e-statements, among other things. Users also receive one free check book per quarter, as well as a Visa Classic Debit Card with a low issue fee.

This card has a Rs 1 lakh daily retail transaction limit and a Rs 40,000 ATM withdrawal restriction. For a number of transactions made from your Axis Bank account, you will automatically receive eDGE Loyalty points.

Easy Access Full Power Digital Account

The account opening procedure is straightforward and may be performed entirely online. A video can be used to complete a full KYC account. You will be given a virtual debit card after the account has been established.On all online purchases, a 1% reward will be given. To open the account, no documentation will be required.

Prime Full Power Digital Account

A video-based KYC can be used to open a Prime Full Power Digital Account online. There will be no need to provide any paperwork to open the account, and it will be authorised within an hour. After you’ve opened an account, you’ll be given a virtual debit card right away, and you’ll get a 1% reward if you make any online purchases.

Liberty Savings Account

You have the option of spending or keeping a balance (minimum) of Rs.25,000 every month in the account. On weekend travel, shopping, entertainment, and food purchases, you will receive a 5% reward.

Prestige Savings Account

You will obtain limitless DD/Pos and check books with the account at no additional cost. In addition, there is no restriction to the number of bank transactions that can be made in a month. You will be given a Prestige Cashback Debit Card with a daily withdrawal limit of Rs.1 lakh. On shopping and gas, there are a variety of cashback options.

ASAP Instant Savings Account

Once the account is opened, a virtual debit card is issued immediately. Online incentives are available when using a physical debit card. The maximum daily withdrawal is Rs.50,000. The procedure for opening an account is straightforward and Aadhaar-based.

State Bank of India Account Opening 

Interest Rates on Axis Bank Account Opening

Customers of Axis Bank can receive an attractive interest rate of up to 3.75 percent on their savings accounts, as well as a variety of benefits and bonuses when they transact with their accounts. The interest rate is calculated daily and paid to account holders at the end of each quarter.

Minimum Balance Requirements for Axis Bank Account Opening

Depending on the type of account and the target demographic it serves, Axis Bank savings accounts have varied minimum balance requirements. The minimum balance amount varies between Rs.2,500 and Rs.1,00,000.

Axis Bank Savings Accounts Eligibility

Axis Bank offers savings accounts to Indian nationals and Hindu Undivided Families (HUF).

Required Documents for Axis Bank Account Opening

  • Two photographs of passport size (All applicants)
  • Age Proof
  • Joint account applications require both applicants’ ID proof documents, and the primary account holder’s residence proof can be reinforced by a relationship proof between both holders.

Address Proof /ID Proof

  • Valid Passport
  • PAN Card
  • Voter’s ID Card
  • Valid Driving License
  • Job Card issued by NREGA duly signed by a State Government officer
  • Letter or Card issued by Unique Identification Authority of India (UIDIA) – Aadhaar card

Address and ID proof for Hindu Undivided Family accounts

  • Declaration from the Karta
  • PAN Card / Form 60 of HUF
  • Proof of Identification and address of Karta as per documentation for the individual
  • Prescribed Joint Hindu Family Letter signed by all the adult holders

Documentation Required – Salary Accounts

Salaried professionals need to submit a bonafide authorization letter from their employers in the bank’s required format.

Proof of Photo ID

  • PAN Card
  • Election Card
  • Passport
  • Driving License
  • Photo IDs of Government / Defense services / Public Sector undertakings

Punjab National Bank Account Opening 

Proof of Address (anyone)

  • Telephone Bill / Mobile Bill / Electricity Bill.
  • Gas connection registration letter
  • Ration Card
  • Income tax / Wealth tax assessment order
  • Registered lease agreement with a utility bill in the name of the landlord.

FAQ’s

Is there a minimum balance required to start an Axis Bank Pension Savings Account?

The Axis Bank Pension Savings Account does not have an average quarterly balance requirement.

Who is qualified to create a Prime Savings Account with Axis Bank?

Individuals and Hindu undivided families residing in India are eligible to open an Axis Bank Prime Savings Account.

What is the current rate of interest on an Axis Bank Basic Savings Account?

The interest rate on the Axis Bank Savings Account is 4% and is computed on the daily balance; interest is paid quarterly.

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