What Happens If Minimum Balance Is Not Maintained In Axis Bank?

What is monthly average balance in Axis Bank?

Axis Bank:Monthly Average BalanceRs 10,000If Monthly Average Balance is not maintainedRs.

10 per Rs.100 of the shortfall from Average Monthly Balance Requirement or ₹ 500, (plus GST) whichever is lower with a minimum charge of ₹ 100Dec 9, 2018.

What is the minimum balance in PNB current account?

PARAMETERSFEATURESMinimum Quarterly Average Balance1,00,00010,00,000Initial Deposit (R/SU/U/M)5,000Non Maintenance of QAB Charges (Subject to change from time to time)500400029 more rows•Jun 11, 2020

What is the minimum balance to maintain in Axis Bank?

Axis Bank Minimum Balance Requirements The minimum balance amount ranges from as low as Rs. 2,500 to Rs. 1,00,000/-.

What happens if minimum balance is not maintained in PNB?

BALANCE REQUIREMENT – If the balance falls below the required minimum maintaining balance. 0.100% p.a. * Dormancy fees on a dormant deposit accounts shall be collected when: … – If the balance falls below the required minimum maintaining balance.

Does Axis Bank have zero balance account?

Axis Bank’s zero balance account offers a zero balance facility, a free debit card and unlimited free cash deposit. Axis Bank’s zero balance account allows you to access more than 12,000 Axis Bank ATMs, over 2,500 Axis Bank branches as well as internet, mobile and phone banking services.

What is the minimum balance in bank?

List of All Banks Savings Account Interest Rates and Minimum Balance 2020List of Savings Account BanksMinimum Balance Required(INR)Andhra Bank0/5//100/1000Axis Bank0/10000/25000/100000Bank of Baroda0/5/1000Bank of India500/5000/10000/20000/10000033 more rows

Which bank is better HDFC or Axis?

But, in terms of interest rates, HDFC is a better option as its highest rate is 8%. Whereas, Axis Bank Home Loan Interest rates are can go upto 8.55%….People Also Look For.Home Loan Interest Rates December 2020Axis Bank7.75% – 8.55%Bank of Baroda6.85% – 8.25%Citibank7.13% – 8.03%HDFC6.90% – 7.65%9 more rows

Which bank has lowest minimum balance?

ICICI Basic Savings Account.HDFC BSBDA Small Savings Account.SBI Basic Savings Bank Account.Axis Bank Small Basic Savings Account.Indus Small Savings Account.Standard Chartered Bank’s Basic Banking Account.RBL Bank’s Abacus Digital Savings Account.IDFC Bank Pratham-savings account (BSBDA)

How can I close my Axis Bank account with negative balance?

But if you want to close Axis Bank account with a negative balance then you have to pay the complete negative balance to the bank. Without paying that negative balance you can’t close your bank account.

What happens if I don’t maintain minimum balance in Axis Bank?

If customers fail to maintain this balance, they will have to pay a penalty of up to Rs 75 – every month! Source – PTI. Most banks require their customers to maintain a minimum balance in their account. They charge their account holders for the non-maintenance of minimum average balance (MAB).

How can we avoid minimum balance charges?

To avoid such circumstances, you can opt for a zero balance account. You can open a zero balance account, even if you are a non-salaried account holder of a bank. With this option, account holders will not be required to maintain a monthly average balance.

Can I open zero balance account in PNB?

PNB Basic Saving Bank Deposit Account is a Zero Balance Account from PNB. Individuals without a savings account can open a PNB basic savings account without submitting a lot of documents. This will help individuals to avail other basic facilities as well.