Axis Bank Prime Savings Account comes with higher transaction limits, personal accident insurance cover of up to Rs. 5 lakhs, free and unlimited pay orders/demand drafts, and more benefits. Also, you can avail of as many cheque books as you need. Earn interest up to 3.50% on daily balances. This account is for residents of India and Hindu Undivided Families. Single and joint applications are allowed. KYC documentation is mandatory to open this savings bank (SB) account.
In this post, we will discuss Prime Axis Bank Savings Account features, eligibility criteria, interest rates, documents required, fees and charges, and FAQs.
Here are the features of this Axis Bank Savings Account:
Here are the eligibility norms for this Axis Bank Savings Account:
Axis Bank Prime Savings Account interest rate is between 3.00% and 3.50%. The interest is calculated based on incremental account balance slabs. The Floor Price for account balance slabs is linked to the Repo Rate, which is 3.50% per year. If the balance goes above Rs. 2,500 crores, then you may receive preferential rates. Contact your branch office to know more.
Here are the documents required for account opening:
Joint Account Holders:
Here are the charges for the Prime Axis Bank Savings Account:
Here are the Axis Bank Savings Account FAQs:
You can make up to 30 transactions in a month. This includes financial transactions at Axis Bank ATMs as well as non-financial and financial transactions at other bank ATMs. After this, a flat fee of Rs. 20 per transaction is applicable.
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 higher 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 are 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.
The monthly Service Fee (MSF) is Rs. 5 for a shortfall of every Rs. 100 + Rs. 75 is the balance required or Rs. 100, whichever is lower, then AMB is waived off if such is maintained across all branches.
The daily POS transaction limit is Rs. 1,25,000. The daily withdrawal limit on ATMs is Rs. 50,000.
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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