Savings Account

Savings Account is a type of bank account where you can keep your money safely and earn a nominal interest. It can be used to keep funds required for your regular expenses and transactions, plus make some gains on the balance amount.

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Axis Bank provides a wide range of Savings Account variants with unique features and benefits, aiming to enhance your banking experience. You can seamlessly open an account digitally without any paperwork or branch visits. Alternatively, you can also visit any of our branches to start your banking journey.

There are several advantages of opening an account online. Open an account digitally in just 4 simple steps with the seamless & easy video-KYC process which does not require any paperwork or branch visits.

When you open a Savings Account you get:

  • Fixed and safe returns as Savings Account offers nominal interest rates and your funds are insured
  • Easy liquidity as you can deposit and withdraw money any time you choose
  • Access to credit products such as loans and credit cards and value-added services such as online banking, mobile apps
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Why Axis Bank Savings Account?

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Special Features


Savings Account customised for individual needs


Rewards associated with Axis Bank Savings Account

Our range of Savings Account options offers complementary services such as a high transaction limit, free cheque books, video-based KYC, and more. But that's not all! You can enjoy an an array of lifestyle benefits, from amazing cashbacks and discounts on online spending to gift vouchers, Axis Edge rewards, and various other privileges.

Open Digital Savings Accounts in 4 easy steps

  • Choose the right type or variant of Savings Account that suits your financial needs.
  • Keep your necessary documents readily available.
  • Provide accurate communication details.

If opting for Video KYC, ensure you have a device capable of supporting video calls and a reliable internet connection

Video KYC Account in just 4 steps

Eligibility & Documentations

Eligibility for a Savings Account can differ based on the chosen variant, user type (individual or joint), and the method of account opening (Physical or Digital Savings Account). Please review the eligibility criteria for your selected Savings Account variant, as certain features may be subject to change.

Documents required: KYC documents (proof of identification, address and nationality), a duly filled account opening form, customer photo. Please refer to the documentation section of your chosen Savings Account variant, as certain features may be subject to change.

Fees & Charges

Understand the fees and charges associated with our Savings Accounts. Note that applicable fees and charges may vary based on the specific variant of the Savings Account you choose. Learn More

Interest Rate on Axis Bank Savings Account

Currently the interest rate on a Savings Account ranges between 3% and 3.5%.

Interest on your savings account is automatically computed based on the bank's offered interest rate and your maintained monthly balance. For instance, if your savings account holds a balance of Rs 20,000 and the bank provides an annual interest rate of 3%, you would earn Rs 600 in interest annually.

The interest rate is calculated daily on the maintained balance but credited to your account quarterly. Specifically, interest is credited on the first day of the next quarter, except for the fourth quarter, where it is deposited on the last day of the quarter.

View Savings Account Interest Rate

Things to keep in mind while opening a Savings Account

Reputation of the bank – Opt for a bank with a strong reputation in terms of safety and customer service since a Savings Account will serve as your primary relationship with the bank for the long term

Services and facilities – Consider the additional services offered such as online banking, mobile app, branch network, customer support and how easily and conveniently you are able to do your transactions

Fees and charges – Know the fees and charges associated with the Savings Account such as ATM charges, debit card fees, minimum balance penalty, cheque book charges, etc. These may also vary depending on the variant of the Savings Account you choose

Most banks offer a nominal interest rate on Savings Account. But some do offer higher interest rate for some types of accounts. Hence, you could also consider interest rate if you plan to keep a large amount of funds in your Savings Account

Frequently Asked Questions (FAQs)

A Savings Account is a crucial financial tool offered by banks, enabling you to securely save money and earn interest. Its easy accessibility provides the convenience of depositing and withdrawing funds at your discretion, making it a highly flexible and liquid savings tool. Savings Account promotes financial discipline by offering a secure place to save and earn steady interest, with 24/7 access to your funds. Today, a savings account has become a one-stop solution for all your money management needs like transferring money, paying bills, shopping, addressing contingencies, and investing. Additionally, the cherry on top is the array of extra benefits, such as discounts and reward points on spending, coupled with a range of digital banking services. If you haven't opened a Savings Account yet, explore the various options available at Axis Bank and select the one that suits your specific needs.

To open a Savings Account, you can simply:

  • Select your preferred variant and click the "Apply Now/Get a call back" option.
  • Commence the application for a Digital Savings Account by clicking here
  • Alternatively, you can visit your nearest Axis Bank branch.

When considering opening a savings account, it's crucial to opt for a variant that aligns with your financial behavior and savings habits. Axis Bank offers a diverse range of savings accounts designed to meet various needs and financial preferences. These include regular savings accounts, salary accounts, senior citizen savings accounts, zero balance savings accounts, and more. Each account comes with distinct features and benefits tailored to fit particular lifestyles.

For instance, customers with a Senior Privilege Savings Account may be eligible for discounts or additional services on healthcare, while those with an Easy Access Digital Savings Account can enjoy special offers on various e-commerce platforms. Take the time to explore the available options and select the savings account that best suits your needs.

The minimum balance or average monthly balance (AMB) criteria differ based on the chosen Savings Account type and the account holder's location. For example, the minimum balance for an Axis Bank Easy Access Savings Account is Rs 12,000 for metro and urban locations, Rs 5,000 for semi-urban, and Rs 2,500 for rural areas.

Transferring money from your savings bank account is a simple process with just a click if you opt for the digital mode. Online fund transfer options, including UPI, IMPS, NEFT, or RTGS, provide a seamless way to transfer money from your Savings Account for payments and other requirements. Use Axis Bank's mobile banking app 'open' or internet banking facility for instant money transfers. Alternatively, you can also visit the nearest Axis Bank branch to transfer funds to your bank account.

Please click here to know the fees and charges for your desired savings bank account variant.

Upon opening an Axis ASAP account, you instantly receive a virtual debit card. The physical debit card is dispatched to your Aadhaar address within 7 working days.

Easy Access Digital Savings Account
Initial Funding: As Stated BelowAverage Balance Requirement
Metro: ₹16000/-Metro: ₹12000/-
Urban: ₹15000/-Urban: ₹12000/-
Semi Urban: ₹6000/-Semi Urban: ₹5000/-
Rural: ₹3000/-Rural: ₹2500/-
Liberty Digital Savings Account
Initial Funding: ₹25,000/-Average Monthly Balance - ₹25,000 OR monthly spends* of ₹25,000
*spends include merchant payments made through your account (internet banking, Axis Mobile, UPI) and through debit card of Primary Account Holder (offline or online payments)
Virtual Debit Card fees : Nil
Physical Debit Card :1. Joining fees : ₹200 + GST
2. Annual fees : ₹300 + GST