|State Bank of India Gold Loan|
|Monthly Average Balance (MAB)||
|Interest Rate||3.00% to 3.50%|
|Debit Card||VISA Platinum Debit Card|
Axis Bank Senior Privilege Savings Account offers up to a 15% discount on purchases. The facility even extends to other purchases at most of the Apollo Pharmacies. You can enjoy higher rates (0.5% preferential rate, subject to change anytime) on fixed deposits (FDs) and recurring deposits (RDs) older than 6 months tenure. You will also receive a Senior ID Card to further avail of special services on the savings bank (SB) account.
In this post, we will discuss Axis Bank Senior Privilege Savings Account features, initial deposit amount, eligibility criteria, interest rates, other benefits, fees and charges, and FAQs.
Here are the features of this Axis Bank Savings Account:
Here are the details:
Here are the eligibility norms:
Axis Bank Senior Privilege 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.
|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%)|
Here are the other benefits of this savings account by Axis Bank for senior citizens:
Here are the charges for the Senior Privilege Axis Bank Savings Account:
|Average monthly balance requirement||
|Issuance fee for NetSecure with 1 touch||Rs. 1,000|
|Debit Card||Visa Platinum|
|Debit Card Issuance Fee and Annual Fee||
|Issuance of My Design Card||
|Card replacement fee||Rs. 200|
|Duplicate Passbook||Rs. 75 per instance|
|Stop payment of ECS and Cheque||
|Physical statement of prior quarters at the branch||Rs. 75|
|DD/PO revalidation/cancellation/duplicate||Rs 100 per instance|
|Additional PO/DD fee||
|Account closure||Rs. 500|
|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||
|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 transaction|
|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||
|Inward cheque return - non-financial||Rs. 50 per instance|
|International balance enquiry (ATM)||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. 75|
|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 ATMs|
|Transaction declined due to insufficient funds at POS terminals||Rs. 25 per instance|
Here are the frequently asked questions for this Axis Bank Savings Account:
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. Non-financial transactions beyond the free limit are charged at Rs. 10 per instance. The same is Rs. 20 per instance for financial transactions beyond the free limit.
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. The charge is 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 drawer 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 drawer bank and $13 as per the correspondent bank.
For urban, semi-urban, and rural locations, the quarterly Service Fee (QSF) is Rs. 5 for a shortfall of every Rs. 100 + Rs. 75 is the balance required or Rs. 500 (Rs. 750 in the case of rural location), whichever is lower. But if you maintain the average quarterly balance or maintain a total relationship value with the bank of Rs. 1 lakh fixed deposit of at least 6 months tenure, and balance in a savings account, then Rs. 75 is waived off.
The daily POS transaction limit is Rs. 3 lakhs. The daily withdrawal limit on ATMs is Rs. 40,000.
The charge for a bundle of 1000 notes is 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 are Rs. 5 per Rs. 1,000 or Rs. 150, whichever is higher.