Query on Axis Bank Basic Savings Account. Kindly Help with relevant information!

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DhoniManiac

Hi friends, I was holding two Savings Account with Axis Bank for more than 7 years. But due to the annoying Relationship Manager and poor services I had shifted my Primary Banking to ICICI. So I had closed the Priority Savings Account recently and as of now I chose to keep the Easy Access Savings Account Active just to make credit card payments through Axis Bank Account itself .

Last couple of months I stopped maintaining any balance in the Easy Access Account since they have started restricting my fund transfers after I closed my Priority Account. So I managed to transfer all my funds through GPay and now maintaining Zero Balance. And would transfer the required money to this Axis Bank Account as and when required while paying my Credit Card Bills directly from Axis Mobile App which is the only purpose of using this Savings Account from Axis Bank.

But last week I received a message stating that "I had not maintained the Minimum Account Balance (MAB) of Rs. 12,000 for Easy Access Savings Account last month and incase of non maintainance of required balance for 2 consecutive months I would be charged non maintainance fees and my account will be converted into a BASIC SAVINGS ACCOUNT."

So when I tried to find more about the Basic Savings Account, the features were Zero Balance Account with Free Rupay Debit Card and No other charges. The charges were almost NIL for everything which is quite amazing.

So my query is will I be able to untilise all the features of Normal Savings Account like Easy Access or other Normal accounts like the money transfer through UPI, IMPS, booking fixed deposits, paying credit card bills and other basic needs? Is there any limit or restrictions like maximum upto 1 Lakh Balance like in all the Payment Banks and Amazon Pay Wallet or this Basic Savings Account is just like a normal full fledged Bank account where I can perform all the basic transactions without any restrictions.

When I enquired about this to the Axis Bank Phone Banking Officer, they said Easy Access Account with MAB of Rs. 12,000 is the basic account in Axis Bank and they don't have any Zero Balance Savings Account as such.

So anyone who had used this Basic Savings Account kindly let me know if I could let my account to get converted automatically into Basic Savings Account by not maintaining the MAB. But the things is I want a full fledged account since there is a condition that a customer cannot open any other savings account if incase they are holding a Basic Savings Account from Axis Bank. And incase of any existing accounts, it will be closed with immediate effect.

So kindly help me with some relevant information so that I could let my account get converted into Basic Savings Account automatically. Thank u for patiently reading this long post.

Official Link:
https://www.axisbank.com/retail/accounts/saving...

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AXIS BASIC SAVING ACCOUNT HIGHLIGHTS:

Daily withdrawal limit and Shopping limit
Daily ATM Withdrawal Limit of Rs.40,000, Daily POS transaction Limit of Rs.100,000
Monthly Cash Transaction Free Limits (Metro/Urban)
Free unlimited Cash deposits (across any Axis bank branch) and 4 free withdrawal transactions (Includes Branch Cash, Axis/Other ATM cash withdrawal, POS, Micro ATM, NEFT/RTGS, DD/PO, ECS/SI & IMPS debit transactions)
Monthly Cash Transaction Free Limits (Semi-Urban/Rural)
Free unlimited Cash deposits (across any Axis bank branch) and 4 free withdrawal transactions (Includes Branch Cash, Axis/Other ATM cash withdrawal, POS, Micro ATM, NEFT/RTGS, DD/PO, ECS/SI & IMPS debit transactions)
Fees on Cash Deposits and Withdrawals above limits
Rs.5 per Rs.1000 or Rs.150, whichever is higher (withdrawal)

For more information on Fees and Limits  CLICK HERE and select Basic Saving Account in desktop mode.
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I think the fees structure is same as Easy Access Account. The only difference being the Basic Savings Account having a Zero Balance Maintainance. Am I right. And thanks for response 🙂

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