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Savings Account

Axis Bank offers a multitude of savings accounts to cater to the banking needs of all and sundry. With a range of accounts from regular savings account to premium accounts, the bank ensures that every type of customer is covered. The minimum balance requirements of Axis Bank differ from one type of savings account to another. However, Axis Bank saving account interest rates remains the same across most savings account types. Let us look at the various types of Axis Bank savings accounts and the features provided by each of them:
 

  1. Easy Access Savings Account – A type of savings account apt for those who are beginning to save. It can be accessed from any part of the country. The features and benefits are as follows:
     
  • Unparalleled access to the account and provides tracking of banking transactions easily
  • 4% rate of interest on the daily balance, paid quarterly
  • The account can be opened with a minimum opening deposit amount of Rs. 10,000 in metro cities
  • Internet and mobile banking access on all mobile phones
  • First 5 transactions are free every month across Axis Bank ATMs. Whereas the first 3 transactions are free every month at non-Axis Bank ATMs in metro cities and first 5 transactions at non-Axis Bank ATMs in non-metro
  • Account transactions can be tracked through the passbook as well as monthly email statements sent regularly by the bank
  • ATM withdrawal limit is Rs. 40,000 and shopping limit is Rs. 1 lakh per day on the debit card issued by the bank
  • eDGE Loyalty Rewards Programme gives account holders points for maintaining a minimum balance of Rs. 25,000 per month. Reward points are also earned by making account transactions like credit transactions worth Rs. 50,000 or more every month, Electronic Clearance System (ECS) transactions, standing instructions, opening of a Recurring Deposit account with an amount of Rs. 2,000 or more and opening an AxisDirect account.
  • 1 free payable-at-par cheque book is given per quarter
  • Visa Classic Debit Card is issued with this savings bank account at a token fee of Rs. 150 which includes a personal accident cover of Rs. 2 lakh if the card is swiped at least once in 6 months. The debit card comes with a combined lost card liability and purchase protection of up to Rs. 50,000 for protection against fraudulent use and damage or loss of articles purchased using the debit card.
     

Eligibility & Documentation

All Indian resident individuals and Hindu Undivided Families (HUFs) can open the account. Here Key documents required are:
 

  • 2 latest passport size photographs.
  • Address and identity proof of individuals.
  • A Photo Copy of Aadhar Card
  • Address and identity proof required in the case of HUFs include PAN Card copy or Form 60 of HUF, Karta’s declaration from the Karta, identification and address proof of Karta as per banking norms.
  • In case of joint savings accounts, identity proof of both the applicants is required. Address proof of 1st holder is sufficient if relationship proof is provided. 
  1. Prime Savings Account – An Axis Bank savings account with lot of extra features such as enhanced access and higher transaction limits.
  • Interest at the rate of 4% paid quarterly on daily balances
  • The account can be opened with a minimum opening deposit amount of Rs. 25,000 in metro cities
  • Internet and mobile banking access
  • Account transactions can be monitored through monthly e-statements or passbook
  • Unlimited and free ATM transactions at both Axis Bank and non-Axis Bank ATMs
  • Increased ATM withdrawal limit of Rs. 50,000 and daily shopping limit of Rs. 75,000 on the debit card issued by the bank
  • Higher cash transaction limits by way of first 10 transactions or Rs. 25 lakh, whichever is earlier of cash deposits or withdrawals
  • eDGE Loyalty Reward Programme gives loyalty points to account holders who maintain a minimum balance of Rs. 25,000 per month. Points are also earned by performing account transactions like monthly credit transactions worth Rs. 50,000 or more, ECS transactions, standing instructions, opening of a Recurring Deposit account of Rs. 2,000 or more and opening an AxisDirect account
  • Free and unlimited ‘payable-at-par’ cheque books
  • Free and unlimited Demand Drafts (DD) / Pay Orders (POs) at Axis Bank branches
  • Preferential pricing for demat account with 10% discount on the Annual Maintenance Charges (AMC)
  • Discount of 10% on the annual locker charges
  • Free of cost, Secure+ Debit Card. Also includes a personal accident insurance cover of up to Rs. 5 lakh. Lost or stolen card can be blocked easily by calling customer service. Other benefits include emergency travel and hotel assistance of up to Rs. 80,000, emergency cash assistance of up to Rs. 5,000 and fraud protection cover of up to Rs. 75,000.

 
Eligibility & Documentation
 

  • All Indian resident individuals and HUFs can open this account
  • The documents required are:
  • 2 latest passport size photographs
  • Address and identity proof of individuals
  • Bank acceptable address and identity proof for HUFs
  • In case of a joint account, identity proof of both the applicants is mandatory 
  1. Future Stars Savings Account – An Axis Bank savings account created specifically for children below 18 years of age. This savings bank account helps introduce the basic principles of money management to children. The features are:
  • Low minimum opening deposit amount of Rs. 2,500
  • Automatic periodic money transfer facility for transferring money from parent’s account to child’s account
  • Free SMS alerts, monthly e-statements, passbook and internet banking
  • Ability to track account transactions by referring to monthly e-statements or passbook
  • Low average monthly balance requirement of Rs. 2,500 in metro cities
  • 1 free payable-at-par cheque book in the child’s name is available per quarter
  • ATM card free for children below 10 years of age with a daily withdrawal limit of Rs. 1,500
  • For children above 10 years of age, an image of their choice can be printed on the debit card
  • Visa Classic Debit Card is available at an economical annual fee of Rs. 150 + taxes.
  • The debit card includes a personal accident insurance cover of up to Rs. 2 lakhs if the card is swiped at least once in 6 months. It also has a combined lost card liability and purchase protection liability of up to Rs. 50,000 for protection against fraudulent use and damage or loss of articles purchased using the debit card.
  • eDGE Loyalty Rewards Programme gives points for account transactions and these can be redeemed in lieu of attractive offers. 

Eligibility & Documentation
 

  • Future Stars Savings Account can be opened by any child under the age of 18 years.
  • The documents required are:
  • 2 latest passport size photographs
  • Date of birth proof of the child
  • Any address and identity proof acceptable to the bank 
  1. Women’s Savings Account – Axis Bank women’s savings bank account is designed for modern independent women. The features of this account are:
  • 4% rate of interest on the daily balance, paid out on quarterly basis
  • The account can be opened with a minimum opening deposit amount of Rs. 10,000 in metro cities. Thereafter, average monthly balance requirement is of Rs. 10,000.
  • Internet and mobile banking access at no extra charge
  • Account transactions can be tracked through the passbook or monthly email statements
  • First 5 transactions are free every month at Axis Bank ATMs. The first 3 monthly transactions at non-Axis Bank ATMs in metro cities and first 5 monthly transactions at non-Axis Bank ATMs in non-metro cities are also free.
  • eDGE Loyalty Rewards Programme gives loyalty reward points for account related transactions which can be redeemed for attractive offers
  • ATM withdrawal limit is Rs. 40,000 and shopping limit is Rs. 1 lakh per day on the debit card linked to the account
  • 1 free payable-at-par cheque book is provided every quarter
  • Visa Classic Debit Card is issued with the account at a fee of Rs. 150 which includes a personal accident insurance cover of Rs. 2 lakh if the card is swiped at least once every 6 months and a combined lost card liability and purchase protection liability of up to Rs. 50,000. 

Eligibility & Documentation
 

  • All women residents of India can open the account
  • The following documents are required:
  • 2 latest passport size photographs
  • Address and identity proof of women individuals 
  1. Senior Privilege Savings Account – A savings account designed for senior citizens with the following features:
  • The bank gives preferential treatment at all Axis Bank branches where senior citizens are moved up the queue
  • Utility bills can be paid automatically after a simple one-time registration
  • Discounts of up to 50% at major healthcare centres (dental clinics, diagnostic centres, pharmacies, clinics, hospitals) in the country on purchase of medicines, diagnostics, consultation and health check-ups
  • Discount of up to 15% on purchases made at Apollo Pharmacies
  • Debit card has a ATM cash withdrawal limit of Rs. 40,000/day and shopping limit of Rs. 1 lakh. It comes with a personal accident insurance cover of Rs. 2 lakhs if the card is swiped at least once in 6 months and a combined lost card liability and purchase protection liability of Rs. 50,000.
  • The bank provides guidance on writing a will
  • One free passbook (available on request)
  • eDGE Loyalty Rewards Programme gives loyalty points for account related transactions which can be redeemed for attractive rewards and offers

 
Eligibility & Documentation
 

  • Any individual aged 57 years or above can open this account with a minimum deposit of Rs. 10,000 in metro cities and urban areas, Rs. 5,000 in semi-urban areas and Rs. 2,500 in rural areas.
  • The documents required are:
  • 2 passport size photographs
  • Identity, age and address proof as accepted by Axis bank 
  1. Basic Savings Account – A simple savings account from Axis Bank having the following features:
  • Interest at the rate of 4% paid quarterly on the daily balance
  • Free RuPay debit card for the primary and also joint account holders, with a daily withdrawal limit of Rs. 40,000 and daily POS limit of Rs. 1 lakh
  • 4 free cash withdrawals per month
  • Zero balance facility i.e. no minimum balance requirement
  • Internet, mobile and phone banking facility
  • Ability to track account transactions through SMS alerts, passbook and monthly email statements
  • One free payable-at-par cheque book every year.
     

Eligibility & Documentation
 

  • All Indian resident individuals (sole or joint) can open the account provided they do not have any other savings account with Axis Bank.
  • The documents required are:
  • 2 latest passport size photographs
  • Address and identity proof documents  
  • Address and identity proof from Karta of HUF along with other bank-accepted documents
  • In case of a joint account, identity proof of both the applicants must be provided 
  1. YOUth Account – An Axis Bank saving account for the fast-pace young generation having a host of unique benefits like:
  • The look of the debit card can be customised by choosing an image of choice
  • The debit card comes with a combined lost card liability and purchase protection liability of up to Rs. 50,000 for protection against fraudulent use and loss or damage of purchases made using the card
  • The YOUth debit card allows shopping at any merchant outlet for up to Rs. 1 lakh
  • Interest at the rate of 4% paid quarterly on daily balances
  • The first 5 transactions are free at Axis Bank ATMs. While the first 3 transactions are free at non-Axis Bank ATMs in metro locations and first 5 transactions free in non-metro locations.
  • Online money gets pulled from the parent’s account
  • Internet banking, telebanking and SMS banking facilities available
  • YOUth mobile app makes it very easy to do all the transactions from the smartphone and also allows to recharge the prepaid mobile phone anytime
  • Special offers for youth customers on the card
  • Free monthly e-statements help track the account
     

Eligibility & Documentation
 

  • The applicant has to be in the age group of 18 to 25 years
  • Documents required are:
  • 2 photographs (passport-size)
  • Valid identity, age and address proof documents 

Other Savings Accounts: Axis Bank offers other types of savings accounts including:

  1. Prime Plus Savings Account
  2. Pension Savings Account
  3. Trust/NGO Savings Account
  4. 3-in-1 Online Investment Account
  5. Insurance Agent Account
  6. Small Basic Savings Account
  7. Pradhan Mantri Jan-Dhan Yojana (PMJDY)

Apply Online Axis Bank Savings Account

Anyone can open a savings account with Axis Bank through Paisabazaar. The steps involved in the process of online application are:

  • Visit the bank’s website at www.Paisabazaar.com
  • Choose the ‘Investments’ tab and click on ‘Savings Accounts’.
  • Input the required details into the form to view the various Savings Account options available to you.
  • You can then compare the various options available to you based on key criteria like minimum balance requirement, interest rate, charges and fees, etc.    
  • Choose the relevant account option and click the ‘Apply Online’ or ‘Apply Now’ tab.
  • Fill in basic personal details and click the ‘Submit’ button to submit the application online.

A bank representative will then contact you to proceed with the account opening formalities. Once the necessary documentation for Axis Bank savings account is provided and all the requirements for Axis Bank savings account are met, the account is opened. Axis Bank savings account eligibility criteria differ for different account types.

Axis Bank Savings Account
(4/5 ) 5 Reviews
Savings AccountSavings Account
5/5

Great facilities

The savings account from Axis has great facilities associated with it. My savings account has auto sweep facility where my money will earn at an interest rate of 8%. Additionally my savings will also earn 4% interest rate every quarter. I m very happ..Read more...

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Posted on: Jan 12 , 2017
Savings AccountSavings Account
4/5

Excellent services

I am very happy with my savings account which I am using since 7 months. I applied for my account and without any hassle my account got activated within 3 to 4 days. My savings deposit scheme will earn at 4% interest rate. The bank is also providing ..Read more...

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Posted on: Jan 10 , 2017
Savings AccountSavings Account
4/5

Most reliable bank

I applied for an Axis Easy Access savings account at minimum opening balance of Rs 10,000. My savings account is entitled to earn 4% quarterly interest rates. The bank has advanced facilities of e-statements and e-passbook, which would help me to tra..Read more...

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Posted on: Jan 10 , 2017
Savings AccountSavings Account
3/5

Good banking service

I choose Axis bank savings account account as it gave me the highest interest of all and best features. I could apply for my savings account in very less time. I would say Axis bank has always been very transparent about its features and benefits. Th..Read more...

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Posted on: Dec 20 , 2016
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