Axis Bank is one of the leading banks in India that offers various zero balance savings accounts that can be opened online or through visiting a branch. This blog focuses on providing information about opening and managing a zero balance account with Axis Bank which includes types of accounts, eligibility, documents required, interest rates and other key details.
Types of Axis Bank zero balance account
Axis Bank offers different types of zero balance accounts to suit various customer needs. The key types are:
1.Savings Account
- Minimum deposit – Rs.500
- Unlimited free ATM withdrawals
- Two free cheque books in a year
- Debit card with unlimited transactions
- No minimum balance required
2. Salary Account
- Specifically for salaried individuals
- Free of cost
- Unlimited ATM transactions
- Interest on balances above Rs.10,000
- Access to internet and mobile banking
3. Student Account
- Attractive offers for students above 16 years
- Free debit card and cheque book
- No minimum balance
- Easy funds transfer to parents
How to Open Axis Bank zero balance account Online?
Opening a zero balance account with Axis Bank online is simple and convenient. Here are the quick steps:
- Visit Axis Bank website and click on ‘Open an Account’
- Fill the online application form with basic details
- Upload scanned documents like address proof, ID proof
- Verify your mobile number and email ID
- consent to required terms and conditions
- Account will be instantly opened upon verification
- Login credentials will be sent via email/SMS
- You can start using internet banking instantly
- Debit card will be delivered to registered address shortly
How to Open Axis Bank zero balance account Offline?
For customers preferring an offline process, Axis Bank provides the paper application route. Here are the basic steps:
- Pick an Axis Bank account opening form from the nearest branch
- Fill details like name, address, identity proof details
- Submit required documents like address proof, ID proof
- After verification of documents, signatures will be taken
- Account will be opened on the spot in front of you
- Debit card and initial cheque book given instantly
- Activate internet banking later by visiting branch
- Access your account through branch representatives
Axis Bank zero balance account Interest rates
Axis Bank offers competitive interest rates on zero balance savings accounts for balances maintained above certain thresholds:
- Balance up to ₹1 lakh – 3% p.a.
- Balance above ₹1 lakh up to ₹5 lakh – 3.5% p.a.
- Balance above ₹5 lakh up to ₹10 lakh – 4% p.a.
- Balance above ₹10 lakh – 4.5% p.a.
Fees and charges of Axis Bank zero balance account
Axis Bank keeps most of its zero balance accounts free from maintenance charges to attract more customers. Some of the major fees and charges are:
- No minimum balance requirement
- First 10 transactions free per month, ₹20 for each additional local transaction
- ₹100 plus GST for new ATM cum debit card
- ₹50 plus GST for reissue of lost/damaged debit card
- ₹25 for every leaf of every missed EMI/payment in loan accounts
- ₹100 plus GST for stop-payment and reissuance of demand drafts, pay orders
Eligibility criteria to open Axis Bank zero balance account
There are some basic eligibility terms to be eligible for opening a zero balance account with Axis Bank:
- Minimum age of 18 years (16 years for students with parent account)
- Resident Indian citizen or NRI fulfilling RBI norms
- Required documents – address and identity proof
- No scrutiny of credit history or minimum balance
- Photo and signature to be submitted digitally or in hard copy
- Bank reserves the right to reject an application without reason
Documents required to open Axis Bank zero balance account
To fulfill Know Your Customer norms and ensure hassle-free account opening, Axis Bank requires a few basic documents to be submitted:
- Address proof – Voters ID, passport, rent agreement, utility bill
- Identity proof – Aadhaar, PAN, passport
- One passport size photograph
- For minors/students – ID & address proof of parent or guardian
Axis Bank zero balance account Welcome Kit
Once the account is opened successfully, Axis Bank provides a welcome kit to new customers:
- Debit card issued instantly if account opened at branch
- Internet banking login credentials via SMS/email
- Passbook or account statement for first transaction
- User manual for using ATM, debit card, netbanking
- Reference guide on phone and branch banking
- Safety guidelines to protect against fraud
- Helpline numbers of Axis customer care center
Axis Bank zero balance account Helpline
Axis Bank has a strong customer support system to address queries or help its account holders. For any assistance regarding their zero balance account, Axis Bank customers can use the following helpline:
Axis Bank has its registered office at ‘Axis House’ C-2, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai 400013.
The toll free telephone banking number for Axis Bank is 1800–103–5577. This helpline number is available 24×7 for all banking services including account balance checks, recent transactions, online payment issues and more.
The email id to write to Axis Bank customer support is: [email protected]. Online forms are also available on the website to lodge any service requests from the ease of digital banking.
Final Word
Axis Bank has made banking more accessible for all through its zero balance account options. With minimal paperwork and no minimum balance pressure, anyone can walk into an Axis Bank branch or access their digital platforms to easily open an account. The several account benefits and perks ensure cost-effective banking services for customers.
FAQs
Axis Bank does not mandate any minimum balance to be maintained in its regular savings accounts. You can operate the account without maintaining any prescribed minimum daily, weekly or monthly balance. Certain limits may apply on free transactions in zero balance account.
Yes, you can open an account with Axis Bank without maintaining any minimum balance. Axis Bank offers zero balance saving accounts which do not require you to maintain any prescribed minimum balance.
Axis Bank zero balance account is a basic saving bank account which allows account opening and operation without requirement of minimum balance. This account has limitations on number of free transactions per month.
Axis Bank does not mandate any minimum balance to be maintained in its regular savings accounts. You can operate the account without maintaining any prescribed minimum daily, weekly or monthly balance. Certain limits may apply on free transactions in zero balance account.
Axis Bank is one of the largest private sector banks in India. It is not a government or state owned bank, but is a publicly traded company listed on Bombay Stock Exchange and National Stock Exchange.
Axis Bank is considered to be one of the safer private sector banks in India. It is under regulation and supervision of Reserve Bank of India. With strong financials, network across country and globally recognized parent Axis Group, Axis Bank can be deemed a relatively secure option for banking and financial transactions.
Disclaimer
This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.
