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Can I withdraw my minimum balance from Axis Bank?
The non-maintenance of monthly minimum balance charges will be in the range of Rs 50 to Rs 800, the lender said. 3) The private sector bank allows four free transactions or cash withdrawal of Rs 2 lakh in a month, whichever is earlier.
What happens if I withdraw minimum balance?
In case a customer fails to maintain the minimum balance, the bank will levy a penalty of Rs100 + 5\% of the shortfall in the required minimum balance in Metro/Urban/Semi-Urban/Rural locations.
Can a savings account be locked?
No, you cannot lock your savings account. However, you can place your money in an account that penalizes you for withdrawing funds before a specified “maturity” date. Some examples of accounts with early withdrawal penalties are: Certificates Of Deposit, 401Ks, and IRAs.
What happens if we dont close Axis bank account?
Nothing will happen, your Axis bank account will become dormant after few years, and it will be closed automatically by the bank.
What is the minimum balance in Axis Bank saving account?
Under the account, you have the option to either spend or maintain a balance (minimum) of Rs. 25,000 per month.
How much can I withdraw from my savings account?
Federal Reserve Board Regulation D is a federal law that says you can’t make more than six withdrawals or transfers per month out of your savings account. The same rules also apply to money market accounts.
What is the limit on withdrawals from a savings account?
six withdrawals
Regulation D is a federal law that keeps consumers from making more than six withdrawals or transfers per month from a savings account or money market account. The rule is in place to help banks maintain reserve requirements.
Is there any charges for closing Axis bank account?
Are There Any Charges For Closing Axis Bank Account? Axis bank does not charge you any amount if you close your account within 14 days of account opening or after one year. However, if you close your account between 14 days and one year, they will charge a minimum of 500 INR for account closure.