Bank Issued New Rules: Big update for this Bank customers. Actually Bank has changed nine rules from today including service charge for salary and savings account holders.
Axis Bank has revised the service charge for salary and savings account holders. Apart from this, the bank has also changed the fees on various services. According to the bank, the service charge applicable on many 9 banking services including average balance, minimum balance maintenance, free cash transaction limit, DD issuance fee has been revised. According to Axis Bank, the new tariff structure for savings, salary and trust accounts is being implemented with effect from 1 April 2023.
Changes in charges for non-maintenance of minimum average balance-
The non-maintenance fee is waived off for accounts with a shortfall of up to Rs 500 from the required minimum average balance, according to the Axis Bank website. Non-maintenance fee is not applicable for premium accounts if 25% of the required TRV is maintained.
Zero balance accounts like Small and Basic Accounts, Salary Accounts, Defense Accounts, Mahila Pratham Card Accounts, Yuva Savings Accounts, Sahaj Accounts, Pension Accounts, Trust and FCRA Accounts have been excluded from the app.
Average balance amount for Prestige Savings Accounts-
According to the website of Axis Bank, the minimum balance for Prestige Savings Accounts has changed from Average Quarterly Amount of Rs 75,000 to Average Monthly Balance (AMB) of Rs 75,000.
These changes will be applicable for Axis Bank account holders from April 1-
- The service charge for the savings account has been changed for senior citizens.
- Delivery return charges have been introduced.
- Charges applicable in case of NACH debit failure has been changed.
- There has been a change in the inward check return charges.
- DD issue fee has been revised.
- The limit on free cash transactions has been rationalised.
