Axis Bank is rising the cost for not retaining minimal steadiness in financial savings account, withdrawing cash and SMS alerts.
If you’re a buyer of Axis Bank in the private sector, then this information is necessary for you. Axis Bank has increased the charges for its financial savings bank account holders. Axis Bank is rising the cost for not retaining minimal steadiness in financial savings account, withdrawing cash and SMS alerts. If your account is Axis Bank, then know the way a lot the cost has increased.
May 1, the minimal common steadiness restrict has been increased. Charges have additionally increased in the case of non-maintenance month-to-month steadiness charges. From May 1, you want a month-to-month steadiness of Rs 15,000 in your account, at present it’s Rs 10,000. Similarly, the common month-to-month steadiness threshold for Prime and Liberty branded financial savings accounts has been raised to Rs 25,000, which was earlier Rs 15,000.
How a lot will the high quality be
Customers will have to pay penalty for not sustaining these limits. For each Rs 100 discount in minimal common steadiness, a penalty of Rs 10 will be imposed. However, the bank has lowered the minimal payment underneath this to Rs 50, which was earlier Rs 150. But it has increased the present cost of Rs 600 to a most of Rs 800.
Understand this – after taking impact from May 1, in case your common month-to-month steadiness is between Rs 5,000 to Rs 7,500, then the bank will cost 800 rupees and tax.
Cash withdrawal payment
Axis Bank permits up to 4 free transactions or cash withdrawals up to 2 lakh rupees a month, whichever is earlier. After the restrict is over, prospects cost Rs 5 per cash withdrawal of Rs 1,000.
From May 1, the cost will be doubled. You will now have to pay Rs 10 or Rs 150, whichever is greater, for withdrawal of cash withdrawal from the financial savings account for each 1000 rupees.
Currently, the SMS cost in Axis Bank is 5 rupees monthly. 15 rupees are deducted from the bank account of the prospects each three months. By June 30, they will have to pay solely 15 rupees. But from July 1 it prices 25 paise per SMS. But no more than 25 rupees will be charged in anybody month.