Axis Bank Savings Account
Axis Bank offers a range of savings account options to serve various purposes of its customers. These accounts offer the flexibility that’s ideal for building an emergency fund apart from offering a decent interest on the amount deposited in the savings account. Let us find out the details of various Axis Bank savings accounts below.
Axis Bank Savings Account Interest Rates 2022
| Account Balance | Rate of Interest (p.a.) |
| Less than Rs. 50 lakh | 3.00% |
| Rs. 50 lakh and up to less than Rs. 800 crore | 3.50% |
Note: Interest rates updated as on 22nd August, 2022.
Read more: Savings Account Interest Rates
Types of Axis Bank Savings Account
Axis ASAP Digital Savings Account
| Easy Access Digital Savings Account | Prime Digital Savings Account |
| Liberty Digital Savings Account | Prestige Digital Savings Account |
| Priority Digital Savings Account | Burgundy Digital Savings Account |
Other Savings Account
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Features & Benefits of Axis Bank Savings Accounts
Axis ASAP Digital Savings Account
Axis ASAP Digital Savings Accounts offer benefits like virtual debit card, cashback on online spends, and customer verification via video KYC. It is an avenue to open a savings account anytime, anywhere. There are 6 variants of Axis ASAP Digital savings account. Let us discuss about the features of these variants in detail.
Easy Access Digital Savings Account
- Account activation within 60 minutes
- Cardless withdrawal enabled on virtual debit card
- Daily purchase limit on virtual debit card is Rs. 1 lakh
- Up to 20% off at 4000+ partner restaurants in India
- Personal accident cover of Rs. 5,00,000
- Daily cash withdrawal limit from a physical debit card is Rs. 50,000
- Daily purchase limit from a physical debit card is Rs. 5,00,000
Prime Digital Savings Account
- Cardless withdrawal enabled on virtual debit card
- Daily purchase limit on virtual debit card is Rs. 1 lakh
- Up to 20% off at 4000+ partner restaurants in India
- Personal accident cover of Rs. 5,00,000
- 2000 EDGE REWARD points on annual spends of Rs. 1,00,000
- Daily cash withdrawal limit from a physical debit card is Rs. 50,000
- Daily purchase limit from a physical debit card is Rs. 5,00,000
Liberty Digital Savings Account
- Instant virtual debit card and liberty debit card with 5% weekend cashback on spends
- Cardless withdrawal enabled on virtual debit card
- Daily purchase limit on virtual debit card is Rs. 1 lakh
- Up to 20% off at 4000+ partner restaurants in India
- Personal accident cover of Rs. 5,00,000
- 2000 EDGE REWARD points on annual spends of Rs. 1,00,000
- Daily cash withdrawal limit from a physical debit card is Rs. 50,000
- Daily purchase limit from a physical debit card is Rs. 5,00,000
- Gift voucher worth Rs. 750 on spending Rs. 60,000 quarterly
Prestige Digital Savings Account
- Account activation within 60 minutes
- Complimentary instant e-debit card with 1% cashback on online spends
- Instant virtual debit card and liberty debit card with 5% weekend cashback on spends
- Cardless withdrawal enabled on virtual debit card
- Daily purchase limit on virtual debit card is Rs. 1 lakh
- Up to 20% off at 4000+ partner restaurants in India
- Personal accident cover of Rs. 5,00,000
- 2000 EDGE REWARD points on annual spends of Rs. 1,00,000
- Daily cash withdrawal limit from a physical debit card is Rs. 50,000
- Daily purchase limit from a physical debit card is Rs. 5,00,000
Priority Digital Savings Account
- Account activation within 60 minutes
- Priority debit card with benefits on lifestyle, travel and more
- Instant virtual debit card and liberty debit card with 5% weekend cashback on spends
- Cardless withdrawal enabled on virtual debit card
- Daily purchase limit on virtual debit card is Rs. 1 lakh
- Up to 20% off at 4000+ partner restaurants in India
- Personal accident cover of Rs. 5,00,000
- 2000 EDGE REWARD points on annual spends of Rs. 1,00,000
- Daily cash withdrawal limit from a physical debit card is Rs. 50,000
- Daily purchase limit from a physical debit card is Rs. 5,00,000
Burgundy Digital Savings Account
- Account activation within 60 minutes
- Highly experienced and certified wealth specialist and relationship managers
- Instant virtual debit card and liberty debit card with 5% weekend cashback on spends
- Cardless withdrawal enabled on virtual debit card
- Daily purchase limit on virtual debit card is Rs. 1 lakh
- Up to 20% off at 4000+ partner restaurants in India
- Personal accident cover of Rs. 5,00,000
- 2000 EDGE REWARD points on annual spends of Rs. 1,00,000
- Daily cash withdrawal limit from a physical debit card is Rs. 50,000
- Daily purchase limit from a physical debit card is Rs. 5,00,000
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Other Savings Account
Government Scholarship Savings Account
This savings account is provided to students who want to avail government scholarship subsidy. Under the Government Scholarship Savings Account, the subsidy amount is transferred directly to this account. There is no need to maintain any minimum balance. However, the student has to furnish the letter from the Institute/Government for receipt of scholarship at the time of account opening for opening these accounts.
- Free RuPay debit card
- Zero balance facility
- Daily withdrawal limit at ATMs is Rs. 40,000
- Shopping limit is Rs. 1,00,000
- Track banking activities via e-statements, passbook, SMS alerts, etc.
Easy Access Savings Account
It is an online savings account that allows accountholders to start transactions online as soon as the account is opened. It can be opened online and needs video KYC to become fully operational. However, one needs to deposit Rs. 16,000 at the time of account opening.
- Secure plus debit card
- One free chequebookper year
- Low average monthly balance requirement of Rs. 12,000 in metros
- Withdrawal limit of Rs. 50,000 at ATMs
- Shopping limit of Rs. 1,25,000
- First 5 financial transaction free and unlimited non-financial transactions at Axis Bank ATMs every month
Liberty Savings Account
This account provides the flexibility to either maintain the minimum balance of Rs. 25,000 in the account or spend Rs. 25,000 throughout the account in a month. Additionally, the account offers rewarding experiences.
- Flat 5% cashback on weekend spends (Saturday and Sunday)
- Gift voucher worth Rs. 750 quarterly
- Personal accident cover up to Rs. 5 lakh
- Interest rates on daily balances quarterly
Prestige Savings Account
The Prestige Savings Account comes with higher transaction limits, preferential pricing on locker and entertainment benefits. The account has two other variants namely, Prestige Salary Account and Prestige Senior Account.
- Axis Prestige cashback debit card
- 24×7 banking assistance
- Daily ATM withdrawal limit of Rs. 1,00,000
- Higher ATM transaction limit of 30 transactions a month including financial and non-financial transactions at Axis and Non-Axis Bank ATMs
- Free and unlimited chequebooks
Senior Privilege Savings Account
The account is best suited for senior citizens since it offers host of advantages. Senior citizens can avail special treatment by availing Senior Privilege Savings Account since it offers high discounts on medicines are other purchases at Apollo pharmacies.
- Daily ATM withdrawal limit of Rs. 40,000
- One free multicity chequebook per year
- Higher FD rates applicable only for Senior Privilege account holders over 60 years of age
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Future Stars Savings Account
Future Stars Savings Account allow parents to save for their children since the account is targeted for the children below the age of 18. The account helps children to build a strong financial foundation of their own.
- Daily ATM withdrawal limit of Rs. 1,500
- Daily shopping limit of Rs. 1,000
- Free ATM card for children under 10 years of age
- Low average monthly balance requirement of Rs. 2,500 in metros
- If fixed deposit or recurring deposit of Rs. 25,000 is maintained for 6 months, no average monthly balance required
- Visa platinum debit card at an issuance fee of Rs. 200 and annual charges of Rs. 200 in metro and urban locations
Pension Savings Account
This account is designed for pensioners. There is no minimum balance required to maintain this account. Employees of Central Government, Defence Ministry and Civil Ministries can avail facilities of this account to receive their pension.
- Unlimited cash transactions with no capping
- Visa classic debit card at an issuance fee of Rs. 200 and annual fee of Rs. 150 in metro and urban locations
Insurance Agent Account
The account is designed for insurance agents with a concessional minimum deposit of Rs. 5,000.
- Daily ATM withdrawal limit of Rs. 40,000
- Visa platinum debit card at an issuance fee of Rs. 200 and annual fee of Rs. 200
- Shopping limit of Rs. 1,00,000
Basic Savings Account
This zero-balance savings account provides numerous benefits for account holders such as free cash deposits, free RuPay debit card, monthly e-statements, SMS alerts, etc. However, the applicant should not have any existing savings account with Axis Bank prior to opening a Basic Savings Account.
- Daily ATM withdrawal limit of Rs. 40,000
- Shopping limit of Rs. 1,00,000
- Free RuPay debit card
Small Basic Savings Account
The account doesn’t require any minimum balance since it is a zero balance savings account.
- Daily ATM withdrawal limit of Rs. 40,000
- Shopping limit of Rs. 1,00,000
- RuPay debit card
- Personal accident insurance cover of Rs. 1 lakh if the card is used once in 45 days
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Eligibility Criteria and Documents Required for Savings Account in Axis Bank
| Name of the Account | Eligibility Criteria |
| Axis ASAP Digital Savings Accounts |
|
| Government Scholarship Savings Account | Prior to opening this account, the applicant should not have any existing account with Axis Bank |
| Easy Access Savings Account Liberty Savings Account Prestige Savings Account |
|
| Prestige Salary Account | Net monthly salary credit of Rs. 50,000 to Rs. 1,00,000 |
| Prestige Senior Account Senior Privilege Savings Account | Citizens who are 57 years of age or older |
| Future Stars Savings Account | Children below 18 years of age |
| Pension Savings Account |
|
| Insurance Agent Account |
|
| Basic Savings Account Small Basic Savings Account |
|
Documents Required for Axis Bank Savings Account
Additional Documents Required for Axis Bank Savings Account
- Two latest passport-size photographs
- Address and identity proof document
- Letter from Institute/Government for receipt of Scholarship by the student will also be collected at the time of account opening for opening these accounts in case of Government Scholarship Savings Account
- If mailing address and permanent address are different, address proof documents for both are required
- Proof of age
- Form 60 of HUF
- Declaration from the Karta for HUFs
- Proof of identification and address of Karta as per documentation for individual
- Prescribed Joint Hindu Family letter signed by all the adult holders
Note: Documents required for KYC may vary as per the prevalent regulatory guidelines as well as the bank’s internal policy
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Axis Bank Savings Account Fees and Charges
| Category | Fees and Charges |
| Primary Card Issuance Fees | Rs. 300 |
| Primary Card Annual Fees | Rs. 300 |
| Account Closure | Rs. 500 |
| RTGS | Free |
| NEFT | Free |
| Financial Transaction Fees Beyond Limit | Rs. 21 per transaction |
| Non-Financial Transaction Fees Beyond Limit | Rs. 10 per transaction |
| Transaction Decline Fees at POS Terminals Due to Insufficient Funds | Rs. 25 flat per instance |
| Card Replacement Fees | Rs. 200 |
| Additional Chequebook Charges | Rs. 4 per leaf above free limits |
How to Open Axis Bank Savings Account Online?
Applicants interested in opening Axis Bank savings account can do so in just a few simple steps:
Step 1: Go to www.axisbank.com
Step 2: Click on Digital Savings Account and then click on Open Digital A/c
Step 3: Confirm your identity by providing your PAN, Aadhaar or VID, and mobile number
Step 4: For profile information, share the required KYC details to set up the account
Step 5: Upon adding the personal details, you will be directed to the funding page
Step 6: Choose from the available options to fund the account such as net banking, debit card, or UPI
Step 7: You will be taken to the video KYC upon successful completion of funding wherein Axis Bank official will initiate a video call for KYC. You will need to confirm availability for this call and enable video/microphone access for your device
Step 8: At the time of the video call, you will be asked a few questions to verify your identity
Step 9: In case of a video call failure/rejection, you will need to initiate the account opening process again and the same shall be confirmed via message on your screen
Step 10: After completing the process and funding, you will be directed to a page displaying your account and virtual debit card details, including the option to set your PIN for your virtual debit card. The same will be sent to you via email in a password-protected document
FAQs
Q. How can I change my savings account type in Axis Bank?
Ans. You need to visit the Axis Bank branch and fill in the Product Change form and corresponding debit card request as well. The bank will process the change and will inform you to confirm the change.
Q. Does Axis Bank provide a zero balance savings account?
Ans. Yes. Axis bank offers a zero balance savings account called Basic Savings Account.
Q. How can I know more about the fees levied on my savings account?
Ans. You can check the complete list of fees on the official website of Axis Bank. Also, you can call on the call center on 1860-419-5577/1860 500 5555 and speak to the banking official.
Q. Are there any charges for transferring funds from a savings account?
Ans. Charges are applicable depending on the type of transfer. You will see the applicable charges at the time of fund transfer.
Q. My application was rejected in Video KYC, am I eligible to apply again?
Ans. Yes, you may apply for Axis ASAP Digital Savings Account again.