Savings Account

To open a Savings Account you can simply:

• Choose your desired variant from the above selection and click the “Apply Now/Get a call back” option
• Reach out to your nearest Axis Bank Branch
• Click here to begin with application for a Digital Savings Account.

When opening a Savings Account it is important to go for a variant that is most in tune with one’s financial behaviour and Savings pattern.

Axis Bank offers various types of Savings Bank accounts today catering to the needs and financial habits of all kinds of customers. A regular savings account, salary account, senior citizen savings account, zero balance savings account etc. Each of these offer features and benefits in tune to the consumers’ lifestyle.

For example: Customers with a Senior Privilege Savings Account may be eligible for discounts/additional services on healthcare services, while those with an Easy Access Digital Savings Account can enjoy offers across E-commerce portals.

So browse through the options of Savings Account and pick one that suits you the best.

The interest you earn on your Savings Account is calculated automatically. Basis the Savings Account interest rate offered by the bank and the monthly balance you maintain, the amount is calculated. I.e. If the balance maintained in your Savings Account 20000/- and the rate offered by the bank is 3% per annum. An interest of 600/- shall be deposit in to your account per annum,

The interest rate is calculated on the balance maintained in the Savings Account on a daily basis, but it is credited to the account on a quarterly basis (on the first day of the next quarter with the exception of the fourth quarter where the interest amount is paid on the last day of the quarter).

The eligibility and documentation required for a Savings Account may vary on the type of Savings Account variant chosen as well as the type of user (Individual or Joint) or the nature of account opening (Physical or Digital Savings Account).

Certain common documents requested include:

• KYC Documents (Proof of Identification, Address and Nationality)
• A Duly Filled Account opening form
• Photographs of the customer
• Transfer of the initial funding amount as and when applicable.

Please remember however that this is not an exhaustive list; do check the Eligibility and Documentation sections of your chosen Savings Account variant as some features are liable to change.

For Example: In order to open an Easy Access Savings Account for HUFs (Hindu Undivided Families) will require additional documents such as a declaration from the “Karta” and the prescribed Joint Hindu Family Letter while, during application for a Digital Savings Account need not be submitted as hard copies and can just be recorded via Video KYC.

Yes. Axis Bank offers a Zero Balance Savings Account also called Basic Savings Account as part of the Pradhan Mantri Jan-Dhan Yojana Scheme. The savings account offers benefits such as free cash deposits, access to over 4000 Axis Bank branches and 14,000+ ATMs across India and Internet and Mobile banking services. You also get e-statements, a passbook, plus SMS alerts which allow you to get regular updates about your transactions. The free RuPay debit card that comes with the account can be used for both offline and online transactions. These features are available without the need to maintain any minimum balance amount in the account. But do note that any balance in the savings account will fetch you an interest of 3-4%, which is calculated daily and credited once in a quarter.