Do you have an Axis Bank account? If yes, then more money will be deducted from your savings account. Charges have been increased for many functions including SMS alerts, including cash withdrawal. The new rates will be effective from 1 May 2021.
New Delhi. Do you have an Axis Bank account? If yes! So there is very important news for you. Now you will have to pay more for withdrawing money from private sector Axis Bank. At the same time, the charges for other facilities including savings account, salary account have been increased. Axis Bank has announced an increase in various service charges for its savings bank account holders from 1 May 2021. These include withdrawing money from ATMs, charging SMS alerts, and from savings accounts to salary accounts. The bank has increased the minimum balance for various types of accounts. These rates will be applicable from 1 May 2021. So let’s know about them in detail – Cash Withdrawal Charges
Withdrawing cash from Axis Bank will be expensive. Axis Bank offers 4 ATM transactions or a transaction of 2 lakh rupees free every month. After this, a charge has to be given on additional transactions. 5 rupees per 1000 rupees. Now from May 1, now customers will have to pay 10 rupees per cash withdrawal of 1000 rupees.
According to the bank’s website, now the bank will charge 25 paise per SMS. Currently charges 5 rupees per month. Explain that it will not include OTP and promotional SMS sent by the bank. This new rate will be applicable from 1 July 2021. Explain that these charges are different for premium accounts, salary accounts and basic accounts. The rule of minimum average balance also changed
Axis Bank has increased the minimum average balance limit from 1 May 2021. The minimum balance requirement has been increased from Rs 10,000 to Rs 15,000 for an account with Easy Savings Schemes of Axis Bank in metro cities. This will be applicable to all domestic and NRI customers.
Axis Bank has also changed the rules of salary account. If your salary account is more than 6 months old and there is no credit in any one month, then a charge of Rs 100 per month will be charged. At the same time, if there is no transaction in your account for 17 months, then in the 18th month, one time charge of Rs 100 will be charged.
