How to Appeal Axis Bank Savings Account Charges Effortlessly

Fight Bank Fees How to Appeal Axis Bank Savings Account Charges Effortlessly

How to Fight and Waive Axis Bank Savings Account Charges

Axis bank offers a wide variety of savings accounts. The money in the accounts earns interest annually, bringing you extra money and helping you save money. However, a savings account in Axis bank also incurs some charges.

To fight these extra charges, there is a set of requirements you need to meet, which might be financially limiting, especially for people of limited means. To successfully fight and waive Axis Bank Savings Account charges, use DoNotPay.

Types of Axis Bank Savings Account Charges

The different types of savings accounts offered by Axis Bank are designed to accommodate people from all walks of life. Each account offers unique features that work to their best to meet your needs.

The most common types of Axis savings accounts are:

  • Burgundy Digital Savings Account
  • Priority Digital Savings Account
  • Easy Access Digital Savings Account
  • Small Basic Savings Account
  • Future Stars Savings Account
  • Government Scholarship Savings Account
  • Easy Access Savings Account
  • Liberty Savings Account

The different types of Axis Bank Savings Account incur different types of charges. These fees include:

1. Monthly Maintenance Fee

Each account holder at Axis Bank has to pay a monthly service price. The amount you pay is dictated by the location of the bank branch you use.

The monthly service fees are shown in the table below:

Type of AccountMonthly Service Fee
Metro AccountRs.5 for every Rs.100 shortfall plus Rs. 75 in required balance or Rs. 500, whichever is lower, with a minimum charge of Rs. 75.
Urban AccountRs.5 for every Rs.100 shortfall plus Rs. 75 in required balance or Rs. 500, whichever is lower, with a minimum charge of Rs. 75.
Semi-urban AccountRs.5 for every Rs.100 shortfall plus Rs. 75 in required balance or Rs.300, whichever is lower, with a minimum charge of Rs. 75.
Rural AccountRs.5 for every Rs.100 shortfall plus Rs. 75 in required balance or Rs.250, whichever is lower, with a minimum charge of Rs. 75.

2. Excessive Withdrawal Fee

Excessive withdrawal fees are fees imposed to limit the number of times and amount of money you take out of your Axis Bank savings account. The fees are Rs. 5 per Rs.1000 or Rs.150, whichever is higher for transactions above 15 free transactions, or Rs.20 lakhs, whichever is breached earlier.

3. ATM Transaction Fees

Axis Bank charges extra ATM withdrawal charges on withdrawals above the daily free withdrawal limit. Here is a representation of the fees:

Axis/Non-Axis ATM
Cash Withdrawal (Financial transaction) fees beyond limitsINR.20 per transaction
Balance Inquiry (Non-Financial transaction) fees beyond limitsINR.10 per transaction

4. Safe Deposit Locker Annual Rent

Axis Bank offers safe boxes for customers to save their valuable items. If you get a safe box from Axis Bank, you will pay an annual rent fee as follows, depending on the location of your savings bank branch of choice and the size of the locker room:

LocationCharges (in Rs.)/Locker Size
SmallMediumLargeX-Large
Rural1,4002,2005,00010,000
Semi-Urban1,6002,5005,50011,000
Metro/Urban2,7006,00010,80012,960

How to Avoid or Waiver Axis Bank Savings Account Charges by Yourself

Axis Bank offers various platforms to waiver and reduce your extra charges on the Axis savings account. Below are ways to avoid or waive Axis Bank savings account charges:

1. Maintain the Minimum Average Monthly Balance

Axis Bank offers waivers on monthly service fees on the various accounts, provided that the average monthly balance is maintained. Here is a breakdown of each account and the average monthly balance required to secure a waiver:

Type of AccountAverage Balance Required (in Rs.)
Urban10,000
Metro10,000
Semi-Urban5,000
Rural2,500

2. Upgrade Your Subscription

Locker room rental fees are standard; you cannot get a discount. However, if you upgrade your saving account status to a Priority account, you will automatically gain a 50% discount off on your locker rent. 

A Priority account will not only give you a discount on locker rent but also on other services such as dining and movie discounts.

3. Transact Within the Provided Limits

To avoid fees such as excessive withdrawal fees, transact within the set limits. Below are the transactional limits you should operate within:

TransactionLimit
Daily ATM WithdrawalRs.50,000
Daily POS Shopping TransactionRs.1,25,000
Metro/Urban Monthly Cash Transaction FeeFirst 4 Transactions or Rs 2 lakhs
Axis Bank ATM: No. of Free TransactionsFirst 5 Financial transactions Free and Unlimited Non-financial transactions
Maximum Transaction Count Limit on ATM TransactionMaximum 30 transactions allowed in a month

How to Get Axis Bank Savings Account Charges Waived with DoNotPay

Axis Bank's platforms for lobbying for your savings account charges are difficult to maneuver and do not guarantee successful fee waivers. To successfully fight and waive Axis Bank Savings Account Charges, use DoNotPay. If you want to get Axis Bank savings to account charges waived but don't know where to start, DoNotPay has you covered in 4 easy steps:

  1. Open the DoNotPay Fight Bank Fees product.

     

  2. Enter the name of your bank.

     

  3. Verify the last 4 digits of your bank account.

     

  4. Choose which fees you want to waive, including overdraft, ATM, and transaction fees.

What Else Can DoNotPay Do for You?

DoNotPay is the perfect avenue to fight and waive Axis Bank Savings Account Charges because DoNotPay is

  • Efficient
  • Fast
  • Easy
  • Saves your resources

DoNotPay works with government entities and private companies to help you sue anyone, fight bureaucracy, fight corporations, among other services. Sign up to our website to enjoy these services and more:

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