Axis Bank Future Stars Savings Account

Axis Bank Future Stars Savings Account
Monthly Average Balance (MAB)
  • Rs. 1,000 for rural locations
  • Rs. 2,500 for metro/urban/semi-urban locations
Interest Rate 3.00% to 3.50%
Debit Card VISA Platinum Debit Card

Axis Bank Future Stars Savings Account is available for children below 18 years of age. This Savings Bank (SB) account is operable by the guardian for children below 10 years of age. The child can get his/her image printed on the card if they are over 10 years of age. The average monthly balance requirement is between Rs. 1,000 and Rs. 2,500 depending on the branch location. But there is no such limit if you maintain a Fixed Deposit for 6 months of Rs. 25,000. Or, if you maintain a Recurring Deposit of Rs. 2,000 for a year.

In this post, we will discuss Future Stars Axis Bank Savings Account features, eligibility criteria, interest rates, documents required, fees and charges, and FAQs.

Features of Axis Bank Future Stars Savings Account

Here are the features:

  • You will receive one free chequebook per year payable at par. This will be in the guardian’s or child’s name. If the kid is below 10 years of age, then the chequebook is in the name of the guardian.
  • Get free internet banking services and SMS alerts. Benefit with the bank at your convenience.
  • You will receive a Visa Platinum Debit Card. The issuance charge of this is low – Rs. 100. The annual fee for urban and metro locations is Rs. 150.
  • The first 5 transactions are available for free at ATMs of Axis Bank. For non-Axis Bank ATMs, the first 5 and 3 transactions are free for non-metro and metro locations, respectively.
  • The ATM Card is issued for free for children below 10 years of age. The daily withdrawal limit is Rs. 1,500.
  • For kids over 10 years of age, the image of their choice is printed on the Debit Card.
  • You will also get a Personal Accident Insurance cover of up to Rs. 2 lakhs if you swipe the Debit Card at least once every 6 months.
  • To protect the card from fraud and cover for loss or damage of articles you buy you will receive Combined Lost Card Liability and Purchase Protection Liability of the value of up to Rs. 50,000.

Eligibility Criteria for Axis Bank Future Stars Savings Account

Here are the eligibility norms for this Axis Bank Savings Account:

  • This SB account inculcates the habit of saving from an early age.
  • Children below 18 years of age can access this facility.
  • The account is operable by the guardian of kids below age 10.
  • You have to submit the required documents with the account opening form.

Axis Bank Future Stars Savings Account Interest Rates

Axis Bank Savings Account interest rate is between 3.00% and 3.50%. The Floor Price for all slabs linked to Repo Rate is 3.50% per annum. The calculation of interest is based on incremental account balance slabs. If the SB account balance is over Rs. 2,500 crores then contact the branch office for preferential interest rates.

Account Balance Interest Rate
Less than Rs. 50 lakhs 3.00% per annum
Rs. 50 lakhs and up to less than Rs. 10 crores 3.50% per annum
Rs. 10 crores and up to less than Rs. 100 crores Repo + (-0.65%) with applicable Floor rate of 3.50%
Rs. 100 crores and up to less than Rs. 200 crores Repo + (-0.50%)
Rs. 200 crores and up to less than Rs. 2,500 crores Repo + (-0.50%)

Documents for Axis Bank Future Stars Savings Account

Here are the required documents to open the Axis Bank Savings Account:

  • If the child is below 18 years of age, then certain documents are required to open the savings account.
  • The papers for children from a Hindu Undivided Family are proof of date of birth, identity, and address, along with two latest passport size photographs.
  • Accepted identity and address proofs are Passport, Driving Licence, Aadhaar Card or proof of its possession, Voter’s ID Card, Letter issued by the National Population Registry with details of name and address, Job Card by NREGA duly signed by a State Government Officer.

Fees and Charges of Axis Bank Future Stars Savings Account

Here are the charges for the Future Stars Axis Bank Savings Account:

Details Charges
Initial deposit amount
  • Rs. 3,000 for metro/urban/semi-urban branches
  • Rs. 1,500 for rural branches
Average balance requirement
  • Rs. 1,000 for rural locations
  • Rs. 2,500 for metro/urban/semi-urban locations
Issuance fee for NetSecure with 1 touch Rs. 1,000
Debit Card Visa Classic
Debit Card Issuance Fee and Annual Fee
  • Rs. 200 issuance fees
  • Rs. 100 (rural locations) and Rs. 150 (metro/semi-urban/urban locations) as annual fees
Card replacement fee Rs. 200
Duplicate Passbook Rs. 75 per instance
Stop payment of ECS and Cheque
  • Rs. 100 per instance for ECS
  • Rs. 50 per cheque subject to maximum Rs. 100 for series
DD/PO revalidation/cancellation/duplicate Rs. 100 per instance
Additional DD/PO fee
  • Rs. 50 for up to Rs. 10,000 and Rs. 5 per Rs. 1,000 for amount over Rs. 10,000
  • This is subject to minimum and maximum Rs. 75 and Rs. 10,000
Physical statement of prior quarters at the branch Rs. 75
  • Rs. 2.5 per transaction of up to Rs. 1,000
  • Rs. 5 per transaction of Rs. 1,000 to Rs. 1 lakh
  • Rs. 15 per transaction of Rs. 1 lakh to Rs. 2 lakhs
Account closure Rs. 500
  • One free multi-city cheque book in a financial year. This contains 20 leave.
  • Over this limit, every leaf will cost Rs. 2.5 or Rs. 100 per chequebook of 20 leaves
Speed clearing There are no charges for a cheque amount of up to Rs. 1 lakh. But over this limit, you have to pay Rs. 150
Demat A/C annual charges
  • Discount on annual maintenance charges for the first year
  • If the Demat account is not linked with the SB account, then the fee is Rs. 2,500. But if it is linked to the SB account, then the fee is Rs. 750
Value-added SMS alerts Per SMS the charge is Rs. 25 paise. The maximum cap is Rs. 15 per quarter per customer for non-mandatory SMS
The convenience fee for depositing cash at a cash deposit machine After banking hours between 5:00 PM to 9:30 AM, the charge per transaction is Rs. 50. The same fee applies if the deposit is on state holidays or bank holidays for deposits over Rs. 5,000 per month either through multiple or single transactiond
Replacement fee for NetSecure with 1 Touch Rs. 800
ECS Debit Failure Rs. 375 for first return and Rs. 425 for second return and Rs. 500 from third return onward
Outstation cheque collection
  • Rs. 25 per cheque for up to Rs. 5,000 amounts
  • Rs. 50 per cheque between Rs. 5,001 to Rs. 10,000
  • Rs. 100 per cheque between Rs. 10,001 to Rs. 1 lakh
  • Rs. 200 per cheque for the amount over Rs. 1 lakh
Inward cheque return - non-financial Rs. 50 per instance
International balance enquiry (ATM)n Rs. 25
Outward cheque return Rs. 100 per instance
Inward cheque return - Financial Reason Rs. 500 per instance due to insufficient funds
International cash withdrawal (ATM) Rs. 125
Branch transactions (fair usage fees) You can avail of 15 transactions for free in a month. After this, every transaction will carry a fee of Rs. 75d
Outstation cheque return Rs. 150 per instance
Standing Instruction failure for Credit Card dues and Loan EMIs Rs. 200 per instance
ECS/NACH transaction Rs. 25 per transaction, subject to a cap of Rs. 100 in a month
ATM cash withdrawal decline due to insufficient funds Rs. 25 per instance for non-Axis Bank ATMs and no charges for the same at Axis Bank ATMsd
Transaction declined due to insufficient funds at POS terminals Rs. 25 per instance

Frequently Asked Questions about Future Stars Savings Account

Here are the Axis Bank Savings Account FAQs:

The monthly Service Fee (MSF) is Rs. 5 for a shortfall of every Rs. 100 + Rs. 75 is the balance required or Rs. 500, whichever is lower. This is waived off if you maintain Total Relationship Value or Average Monthly Balance.

The fee for the issuance of the original card is Rs. 250 + GST. For Angry Birds Images, the fee is Rs. 500 + GST.

The fee is Rs. 50 for each of these aspects. The fee is counted per instance.

Rs. 1,000 for foreign currency (FC) outward remit by Swift/TT/Wire. Rs. 250 for FC inward remittance fee per instance. Rs. 250 or 0.3%, whichever is high for FC outward remit by DD. Rs. 100 for FC inward remit FIRC/traveller cheques and currency notes/deposit at branches. Rs. 250 for FC cheque IRM commission. Rs. 50 for FC cheque courier charges.

FC cheque base charges 0.25% of INR value plus GST (minimum Rs. 111). FC cheque additional charges for direct collection is as per the drawee bank. The same is as per correspondent bank for FC cheque of FCS only. For reimbursement collection, the charges are on receipt as per the drawee bank and $13 as per the correspondent bank.

POS transaction limit is Rs. 1,000. This facility is not available for children below 10 years of age. The daily withdrawal limit on ATMs is Rs. 1,500.

For a bundle of 1000 notes, Rs. 100 per instance. 10 packets make 1 bundle. This is valid for notes of lower denominations – Rs. 10/20/50.

For all locations monthly cash transactions are free for the first 4 instances or Rs. 2 lakhs, whichever happens, earlier. Cash transactions up to Rs. 25,000 are allowed per day at the non-home branch. If this exceeds, then the fee of Rs. 5 per Rs. 1,000 is applicable or part thereof, subject to Rs. 150 at the least. Charges on withdrawals and cash deposits over this limit is Rs. 5 per Rs. 1,000 or Rs. 150, whichever is higher.

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