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What if minimum balance is not maintained in Axis Bank?
2) If customers are unable to maintain the monthly balance limit, the bank will levy a penalty of Rs 10 per Rs 100 of the shortfall. The non-maintenance of monthly minimum balance charges will be in the range of Rs 50 to Rs 800, the lender said.
Can I maintain zero balance in Axis Bank?
Axis Bank’s Basic Savings Account brings you the best-in-class banking services, without the need for any minimum balance requirement. The Basic Savings Account provides you with e-statements, SMS alerts and a passbook, so you are always updated on your account status and transactions.
What is D minimum balance in Axis Bank?
You need to maintain Monthly Average Balance of Rs 10,000 (in case of Metro/Urban Branches) or Rs 5000 (in case of Semi-urban/Rural Branches) in your Digi Current Account to avoid non-maintenance of balance charges.
How Axis Bank calculate minimum balance?
You must maintain the minimum balance in your account to avoid penalties. MAB is the average of all the closing-day balances in a given month. To calculate the MAB, you need to add each day’s end-of-the-day balance and divide it by the number of days in that month.
Which bank has zero balance?
Latest Interest Rate for Zero Balance Savings Account
| Bank | Name of zero-balance savings account | Interest rate |
|---|---|---|
| Kotak Mahindra Bank | 811 | 4\% to 6\% |
| Standard Chartered Bank | Basic Banking Account | 0.5\% to 4.90\% |
| HDFC Bank | Basic Savings Bank Deposit Account | 3.50\% to 4\% |
| Axis Bank | Basic Savings Account | 3.50\% to 4\% |
Which savings account is best?
Top Banks that have the Best Savings Account for Individuals
- State Bank of India (SBI) Savings Account.
- HDFC Bank Savings Account.
- Kotak Mahindra Bank Savings Account.
- DBS Bank Savings Account.
- RBL Bank Savings Account.
- IndusInd Bank Savings Account.
What is a maintaining account fee?
A monthly maintenance fee (sometimes called a monthly service fee) is money a bank charges you for working with the company. The fee is usually automatically withdrawn from your account each month. In some cases, you’ll pay the fee no matter what. But many banks let you waive the fee if you meet certain requirements.
Which is best savings account?
Which bank has highest minimum balance?
List of All Banks Savings Account Interest Rates and Minimum Balance 2021
| List of Savings Account Banks | Minimum Balance Required(INR) | Savings Account Interest Rates (p.a.) |
|---|---|---|
| Allahabad Bank | 1000 | 3.00\% |
| Andhra Bank | 0/5//100/1000 | 3.00\% |
| Axis Bank | 0/10000/25000/100000 | 3.50\% – 4.85\% |
| Bank of Baroda | 0/5/1000 | 2.75\% – 3.00\% |
What is a minimum balance fee?
Minimum balance fee: This is a charge that applies if your account dips below a certain balance. If you have less in the account, you could be charged this type of fee. Say your bank has a minimum balance set at $500. If you usually have less than $500 in your checking account, you might have to pay a fee to the bank.