What is salary account in axis bank? EXPLAINED
Are You Searching for an Account to Deposit Your Monthly Salary? Private sector lender Axis Bank recently increased several service charges on its savings accounts, such as cash withdrawal fees beyond their free limit and minimum balance requirements. Axis has raised ATM withdrawal charges to Rs5 per Rs1,000 withdrawn over its free limit if customers exceed it; furthermore, Axis increased minimum balance requirements on some savings accounts to Rs5 lakh.
Consider Opening a Salary Bank Account! Having such an account offers several advantages, including zero balance maintenance and interest rates on your money. However, before opening one there are some key considerations you should remember before doing so.
ICICI Bank offers an easy to use salary account that does not charge maintenance fees and comes complete with free debit card. Other features of the account include online statement access, mobile banking capabilities and phone banking service – perfect for anyone wanting to save money but lack time or desire for maintaining savings accounts themselves.
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Axis Bank‘s ULTIMA Prestige Salary Account offers many features that make it ideal for salaried employees. Fully digital, with video KYC verification and instant virtual debit cards as the verification process. Furthermore, multiple benefits including discounts on dining and shopping vouchers as well as insurance coverage and cashback on fuel can be enjoyed from this account as well as special employee delights like priority service and higher interest rates.
When selecting the ideal salary account, several key considerations must be kept in mind. First and foremost should be the rate of interest. Since banks offer various rates, it’s wise to do some comparison before making your choice. In addition to considering rates of interest, it may also be worthwhile selecting an account with multiple branches and ATMs, along with low fees and charges.
For Axis Bank to open a Salary Account on your behalf, the following documents must be provided.The Axis ASAP Salary Savings Account is an innovative zero-balance savings account tailored to salaried employees that requires no minimum balance to operate and offers interest of up to 3.50% annually. In addition, other benefits are available such as personal accident coverage up to Rs2 lakh and lounge access every quarter. To open an Axis ASAP account, you will require proof of identity and address, an approved e-KYC document, two passport-sized photos of yourself as well as registration of Aadhaar and PAN numbers. Once registered, Axis Bank provides you with a one-time password sent directly to your registered mobile number. As one of India’s premier private sector scheduled commercial banks, its products include accounts, deposits, cards, loans, insurance and investments – making them one of the country’s most well-known banking brands with a huge customer base and wide array of financial products that suit their diverse customer base.
You can continue your financial journey with us!