Axis Bank Savings Account Interest Rates 2025: Open Account Online

Incorporated in 1994, Axis Bank has consistently grown to be the 4^th largest private sector bank in India. Customers find great confidence in depositing their earnings in savings accounts offered by the bank, among a plethora of other banking services. 

Axis Bank savings accounts come with attractive interest rates applicable on deposited amounts, providing customers with an incentive to maintain their idle funds within the bank. In this blog, we will walk you through the prevailing Axis Bank savings account interest rates and other associated details that customers find appealing. 

Latest Axis Bank Savings Account Interest Rates 2024-25

The latest Axis Bank savings account interest rates have been in effect from 1st July 2023 and there has been no change in the rates to date. Following are the savings account interest rates offered by Axis Bank, based on the account balance.

For less than ₹2,000 crores, interest calculation is based on incremental balance slabs. However, for balance slabs above the above-mentioned amount, flat interest pay is applicable on the whole amount. 

Axis Bank Savings Account Minimum Balance Required

Axis Bank offers various types of savings accounts, with different minimum balance conditions for different types. Now that you know the current Axis savings account interest rate, let us find out the different types of savings account, and the minimum balance requirement for each.

Notably, the Axis Bank savings account interest rates apply on the average balance maintained by the account holder during a month or across three months. 

Axis Bank Savings Account Charges 2024-25

Applicable charges for different kinds of enquiries, requests and transactions for different types of Axis Bank savings accounts are as follows:

Applicable Axis Bank savings account charges in case of not maintaining the minimum required balance are as follows:

Axis Bank Savings Account Penalty Charges 2024-25

Key Benefits of Axis Bank Savings Account

Other than attractive Axis Bank savings account interest rate and a hassle-free account opening experience, some of the main reasons to open a savings account with Axis Bank are as follows:

• Convenient and efficient internet and mobile banking facility
• Regular SMS alerts to keep you updated with your account status, transactions, debit and credit information 
• Easy tracking of account activity through hassle-free passbook updates and monthly e-statements
• Every year you get one payable-at-par cheque book for free
• Access to over 11,500 Axis Bank ATMs and 2,300 Axis Bank branches 

• A wide range of savings accounts, each catering to different financial requirements
• Standard documentation requirements 

Additional Benefits Associated with Axis Bank Savings Account

Apart from the key benefits, some additional benefits of Axis Bank savings accounts are as follows:

• Funds transfer facility through NEFT and RTGS
• Withdrawal is allowed at any ATM across the country
• Free passbook and cheque book (subject to terms and conditions)
• Multiple zero-balance savings account options 
• Complimentary debit card
• High liquidity, i.e, your savings account does not have any lock-in period for the money deposited in it and is withdrawable anytime via ATM or cheque

How to Open an Online Axis Bank Savings Account?

Follow the steps below to open an account online and avail Axis Bank savings account interest rates: 

• Step 1: Visit Axis Bank’s official website https://www.axisbank.com/, click on ‘Explore Products’, and then click on ‘Savings Account’ under the ‘Accounts’ section. 
• Step 2: Choose a type of savings account from the available options that suit your financial objectives. 
• Step 3: Click on ‘Open Online’.
• Step 4: Click on ‘Apply Now’. 
• Step 5:  Undergo the verification process by providing your PAN Card, Aadhaar Card and mobile number (for KYC through video call), and click on ‘Proceed’.
• Step 6: Fill in all necessary details in the application form.
• Step 7: Get your KYC done through a video call.
• Step 8: Deposit the minimum amount required to open an account.    

Your Axis Bank savings account will be opened and you will receive the passbook, debit card, and cheque book via courier.

How to Open an Axis Bank Savings Account Offline?

Follow the steps below to open an Axis Bank savings account offline. 

• Step 1: Visit the nearest branch of Axis Bank and obtain an account opening application form from the bank counter. You can obtain the same by downloading it from the official website of Axis Bank. 
• Step 2: Fill up the form and attach the supporting documents. 
• Step 3: Submit the form to a bank representative. 

Once you go through the above steps, the bank will process your application form and verify your documents. Upon successful verification, you will be notified about the account activation via your registered mobile number. Thereon, you can avail the attractive Axis Bank savings account interest rates as applicable.

Eligibility Criteria to Avail Axis Bank Savings Account Interest Rates

To be eligible to open a savings account and start reaping benefits from Axis Bank savings account interest rates, you need to fulfil the following criteria:

• A citizen of India as well as an NRI can avail Axis Bank savings account interest rates.
• As an applicant, you need to be 18 years or above except in the case of a minor savings account which is opened under guardianship.
• You must submit all the KYC documents, including ID and address proof, along with the account opening form.

Documents Required to Avail Axis Bank Savings Account Interest Rates 

To avail Axis Bank savings account interest rates, the following documents are necessary:

Individuals

• Identity proof (Aadhaar Card, Driving License, Passport)
• PAN Card
• Form 16 (in case PAN card is not available)   
• Address proof (Voter ID, Utility Bills)
• Latest passport-size photographs 

Hindu Undivided Families (HUFs)

• Identity and address proof of the Karta
• Karta’s declaration form
• Prescribed Joint Hindu Family letter that is signed by all the adult holders
• PAN card copy
• Form 16 (in case PAN card is not available)

Joint Applicants

• Latest passport-size photographs
• Identity and address proof of all the individuals.

Types of Axis Bank Savings Account and Its Features

Different types of savings accounts offered by Axis Bank are as follows:

Note: All the accounts mentioned above offer the standard Axis Bank Savings account interest rates.

Steps to Open Axis Bank Video KYC Savings Account

Video KYC (vKYC) is the process of verifying ‘Know Your Customer (KYC)’ documents through video calls. It is a feature that banks offer as a convenience to their customers. Follow the below-mentioned steps to perform vKYC for the Axis Bank savings account:

• Step 1: Enter your PAN, Aadhaar or Voter ID and mobile number on the verification page, after clicking on ‘Apply Online’ for your chosen savings account.
• Step 2: Show yourself on the screen and display all the required details to complete your profile information to set up your account.
• Step 3: The vKYC page opens after completing your profile information. On the video call, a bank representative will ask you a few questions to verify your identity.

You can avail attractive Axis Bank savings account interest rates on successful account activation.

Axis Bank Savings Account Transaction Limit

Based on the account type and customer profile, the bank reserves the right to cap the daily ATM withdrawal limit. For instance, Axis Bank Easy Access Savings account offers a debit card with ₹40,000 cash withdrawal and ₹1 lakh shopping limit. Likewise, the bank may impose daily withdrawal limits at its branches, which can vary between home and non-home branches. Visit your nearest Axis Bank branch or contact a representative to learn more about the transaction limits for your account type.

How to Close an Axis Bank Savings Account?

You can close your Axis Bank savings account by following these simple steps:

• Step 1: Download and fill in the Axis Bank Savings Account Closure Form from the ‘Download Forms‘ page. 
• Step 2: Fill it out and submit it to the nearest Axis Bank branch along with your debit card cut into four pieces, and your unused cheque leaves.

Notably, you will not be eligible for attractive Axis Bank savings account interest rates and earnings if you close the account without opening an alternate account. 

Axis Bank Savings Account Onboarding Kit

The Axis Bank Savings Account Onboarding Kit that provides you with access to Axis Bank savings account interest rates, contain the following:

• Welcome letter 
• Cheque Book (wherever applicable) 
• Debit Card (wherever applicable) 
• Code of Bank’s Commitment to Customers
• Passbook 
• Most Important Terms and Conditions of Debit Cards

Final Word

Axis Bank’s wide range of savings accounts along with their unique features allow you to plan and choose the scheme as per your financial goal. Now that you know the Axis Bank savings account interest rates and all the benefits and features offered by each kind of savings account, you will be able to make informed decisions in selecting a suitable savings account for yourself.

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Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.