What Is The Minimum Balance For Axis Bank Account?

How can I check my minimum balance in Axis Bank?

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What is minimum monthly balance?

Monthly Average Balance (MAB), also known as the minimum average balance is nothing but the minimum amount you are required to maintain in your Savings Account every month. The figure is calculated at the end of each month and failure to maintain this minimum average balance will result in penalties.

Can I open zero balance account in Axis Bank?

ASAP Instant Savings Account – Axis Bank If you are looking to get your zero balance account opened in no time, then ASAP Instant Savings Account, from Axis Bank, is a perfect choice. Features of ASAP Instant Savings Account by Axis Bank are: Unlimited number of NEFT/RTGS from the mobile app.

What is the full name of Axis Bank?

The Bank changed their name from UTI Bank Ltd to Axis Bank Ltd with effect from July 30 2007 to avoid confusion with other unrelated entities with similar name.

How is Axis Bank Aqb calculated?

It can be calculated by adding up all the closing day balance in a given quarter and then dividing it by the number of days in the quarter. 3. Maintaining Rs 90,000 in a bank account for 1 full month is same as keeping Rs 30,000 for full 3 months as 90,000 x 30 days = 30,000 x 90 days. 4.

What is the minimum balance for Axis Bank?

Axis Bank Minimum Balance Requirements The minimum balance amount ranges from as low as Rs. 2,500 to Rs. 1,00,000/-.

What happens if minimum balance is not maintained in Axis Bank?

If customers fail to maintain this balance, they will have to pay a penalty of up to Rs 75 – every month! Source – PTI. Most banks require their customers to maintain a minimum balance in their account. They charge their account holders for the non-maintenance of minimum average balance (MAB).

Which bank has zero balance?

8 Best Zero Balance Savings Account In IndiaIDFC First Bank Pratham Savings Account. … YES Bank Smart Salary Advantage. … IndusInd Bank-Indus Online Savings Account. … DBS-DigiSavings. … Kotak Mahindra Bank-811 Digital Bank Account. … HDFC Bank – Basic Savings Bank Deposit Account. … SBI – Basic Savings Bank Deposit Account. … Standard Chartered Basic Savings Bank Deposit Account.

Which bank is best for zero balance account 2020?

Top Zero Balance Savings Accounts in 2020S. NoBankZero Balance Savings Account1.State Bank of IndiaBasic Savings Bank Deposit Account2.HDFC BankBasic Savings Bank Deposit Account3.Kotak Mahindra Bank811 Digital Bank Account4.ICICI BankBasic Savings Account8 more rows•Oct 26, 2020

What is monthly average balance in Axis Bank?

Axis Bank:Monthly Average BalanceRs 10,000If Monthly Average Balance is not maintainedRs. 10 per Rs.100 of the shortfall from Average Monthly Balance Requirement or ₹ 500, (plus GST) whichever is lower with a minimum charge of ₹ 100Dec 9, 2018

What is minimum balance in CBI?

Rs.50Minimum balance of Rs. 50/- No service charges for non maintenance of the minimum balance. 50 (Fifty) withdrawals per year free of charge.

Which bank is better HDFC or Axis?

It also had a higher net interest margin (for the March 2012 quarter) of 4.2%, compared with 3.55% and 3.01% for Axis Bank and ICICI Bank, respectively. … Despite this, its Capital Adequacy Ratio (CAR) was a healthy 18.52%, compared to a measly 13.66% for Axis Bank and 16.5% for HDFC Bank.

Which bank has lowest minimum balance?

ICICI Basic Savings Account.HDFC BSBDA Small Savings Account.SBI Basic Savings Bank Account.Axis Bank Small Basic Savings Account.Indus Small Savings Account.Standard Chartered Bank’s Basic Banking Account.RBL Bank’s Abacus Digital Savings Account.IDFC Bank Pratham-savings account (BSBDA)

How can we avoid minimum balance charges?

To avoid such circumstances, you can opt for a zero balance account. You can open a zero balance account, even if you are a non-salaried account holder of a bank. With this option, account holders will not be required to maintain a monthly average balance.

Does Axis Bank charge for debit card?

Goods and Services Tax will be applicable on all the above mentioned fees & charges….Online Rewards Debit Card Fees and Charges.Issuance Fees- Primary/JointRs. 500 + TaxesAnnual FeesRs. 500 + TaxesATM Withdrawal Limit (Per Day)Rs. 50,000Purchases Limit per dayRs. 5,00,000Lost Card LiabilityRs. 1 Lakh4 more rows