Easy Access Savings Account brings convenience to all your banking needs. Whether you want to save money, transfer funds, or make withdrawals, you can do it all from the comfort of your home. This account not only helps you manage your savings easily but also ensures that you can... Read More
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View and manage your account on WhatsApp – including booking FD, blocking cards, paying bills.
Entities eligible for Easy Access Savings Account
Advantages of an Easy Access Savings Account
These are some of the benefits you can enjoy when you open Easy Access Savings Account:
Protect your username and password
When you open an easy access
savings account, be sure
to protect your
account password at all
times. The PIN or the
password used for making
digital transactions
should not be shared
with
anyone, especially when
you are out in public.
Set a password that is
easy for you to remember
but cannot be guessed or
hacked by anyone else.
Maintain the
minimum account
balance
You will have to maintain a
minimum savings account
balance at all times.
This minimum account
balance will not only
help you avoid penalty
fees charged on low
balances but will also
enable
you to earn daily
interest on your average
daily balance. While
making
digital payments, ensure
that you are able to
keep the minimum balance
in your account.
Avoid shared
electronic
devices
It is advisable to
not log into
your easy access
savings account
from
anywhere except
for
your personal
devices. And
when using a
public computer
to make
digital
transactions,
always
log out of your
account without
fail and avoid
saving the
password
on the page.
Don’t fall
for fake
messages
If you get messages,
calls or emails
from anyone
other than the
authorised
officials from
your bank, it is
best to avoid
these
communications.
Genuine bank
officials will
never ask you
for sensitive
personal and
financial
information such
as your debit
card number,
account
number, username
or passwords
through any form
of
communication.
When you sign up for the Easy Access Savings Account, certain fees and charges may be applicable. The Easy Access Savings Account charges are nominal and are disclosed upfront, so you know what you are paying or being charged for.
The interest on your Savings Account is calculated on daily balances maintained and credited to your account every quarter.
Go to the Axis Bank homepage and click on Open Digital A/c.
Verify your identity by completing the verification of PAN and Aadhaar card.
Fill in the required fields with accurate information.
Complete the video KYC from the comfort of your home.
Process the initial funding payment.
With an easy access savings account, you can easily make your payments for your utility bills online, access your funds from anywhere and at any time and enjoy a number of value-added benefits, services and discounts on your online purchases. An easy access savings account saves you from the hassle of handling cash payments.
While there is an initial deposit requirement and a monthly average balance limit on your Axis Bank savings account, there is no upper limit on how much you can deposit to your account.
The Axis Bank Easy Access Savings Account allows you to maintain a monthly average balance requirement of ₹ 10,000 if you are carrying out online banking from a semi-urban or rural city. The minimum opening deposit in your account will be ₹ 10,000.
The Average Monthly Balance of an easy access savings account is calculated by taking the daily closing balance in the account for a given month. The average is then divided by the total number of days in the month. The formula for the same is: Average Monthly Balance = (Sum of all daily closing balances) / (No. of days in a month).
The interest rates as per the existing norms and regulations are calculated on the daily account balance, and the cumulative interest earned on balance is paid out to the easy access savings account on a quarterly basis. For latest interest rates, please click here.
The interest on an easy access savings account is earned on the daily account balance and is paid out on a quarterly basis.
The interest earned on your account balance is credited to your easy access savings account on a quarterly basis.
To deposit money into your easy access savings account, you can fill in the deposit slip with details like your name, account number, date, and amount of money to be deposited and submit it to your bank. Once account is opened you can credit your account via Online mode of payments as well.
In a few easy steps, you can complete the video KYC (Know Your Customer) verification of your Axis Bank Easy Access Savings Account:
You can receive your easy access savings account statement on a monthly basis. You can choose to receive the e-statement of your account or opt for the physical statements.
You can easily withdraw funds from your easy access savings account by using your debit card linked to the bank account at an ATM (Automated Teller Machine) or through internet banking while making online payments.
Look through our knowledge section for helpful blogs and articles.
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