Private sector Axis Bank has given great news to its crores of customers. Axis Bank has reduced the charges on a range of services and from safe deposit lockers to indigo salary credit fees. The new charges have also been implemented from 1 July 2021. After this change, the requirement for Axis Bank customers to maintain minimum balance in the account, ATM transaction charges, check book issuance charges, SMS alerts, cash transaction fee, duplicate passbook and duplicate statement fee have been reduced.
Axis Bank has also given information about this revision on its official website. The bank wrote here, ‘We are constantly improving our services and striving to provide the best services. We would like to inform that Axis Bank has decided to reduce the charges on many types of services. It has also been implemented from 01 July 2021. Let us know what are the new charges now.
Charges reduced on these selected services
- For not maintaining the average minimum balance in the domestic account, there will be a charge of Rs 5 for every Rs 100 shortfall. Earlier it was Rs 10. A minimum of Rs 75 and a maximum of Rs 500 will be charged for this in metro and urban areas. Earlier these charges were Rs 150 and Rs 600 respectively.
- Quarterly SMS charge has also been revised. Earlier it was Rs 5 per month. But, from this month it has been charged 25 paise per SMS. Its maximum limit cannot exceed Rs 15 per quarter. This charge will not be applicable on SMS containing OTP and promotional offers.
- The charges for depositing cash through the machine in the bank account have also been revised. Till June 30, this charge was Rs 50 per transaction. Now if cash is deposited through the machine anytime between 5 pm to 09:30 am and this amount is more than Rs 5,000, then Rs 50 will be charged for this transaction.
- The charge for issuance of check book has also been revised. Now the charge per leaf of check book will be Rs 2.5. Earlier it was Rs 5 per leaf.
- The ECS/NACH transaction fee offered by NPCI has also been revised. Now it will be Rs 25 per transaction. Its maximum limit cannot exceed Rs 100 in a month.
- Till now, if Axis Bank customers used to withdraw cash from ATM and did not have enough funds in their account, then penalty was collected from them. For each time this charge was Rs 25. If you still do not have enough balance, you will have to pay Rs 25 for withdrawing cash from ATM. But in case of insufficient balance from Axis Bank ATM, no charge will be payable for doing the transaction.
- Till June 30, it used to cost Rs 100 to get the address, photo, signature and balance certificate issued by Axis Bank. But now it has been reduced to Rs 50.
The charge for issue of duplicate passbook has also been reduced to Rs.75. Earlier it was Rs 100. - Duplicate statement fee has also been changed. Till June 30, it was Rs 100, which has now been reduced to Rs 75.
Deposit locker charge
The annual safe deposit charge has also been reduced. In rural banks, Axis Bank customers will now have to pay Rs 1,400 instead of Rs 1,500 annually. Whereas, for semi-urban areas, this charge has been reduced from Rs 1,700 to Rs 1,600. For metro and other cities, this charge was from Rs 2,800 to Rs 4,200, but now it has also been reduced to Rs 2,700 to Rs 4,100.
Nil salary credit charge
If no salary is received in a salary account for 6 months, then earlier Axis Bank did not charge any charge, but now it has been revised. From July 1, 2021, a charge of Rs 100 per month will have to be paid on such salary account.
