Does Axis Bank Charge For Account Closure?

How can I close my Axis bank account?

Procedure to Close Axis Bank Current Account(1) Fill up the Account Closure Form of Bank.

In order to close your bank account, the first step is to fill up an Account Closure Form.

(2) Attach your KYC Documents.

(3) Surrender Balance Cheque Leaves and Passbook.

(4) Withdraw the Balance Amount in your Bank Account..

What happens if minimum balance is not maintained in Axis Bank?

If customers fail to maintain this balance, they will have to pay a penalty of up to Rs 75 – every month! Source – PTI. Most banks require their customers to maintain a minimum balance in their account. They charge their account holders for the non-maintenance of minimum average balance (MAB).

Does Axis Bank have zero balance account?

Axis Bank’s zero balance account offers a zero balance facility, a free debit card and unlimited free cash deposit. Axis Bank’s zero balance account allows you to access more than 12,000 Axis Bank ATMs, over 2,500 Axis Bank branches as well as internet, mobile and phone banking services.

Does it hurt your credit to close a bank account?

Closing a bank account won’t directly affect your credit. It could, however, cause you difficulties and affect your credit score if it’s been closed with a negative balance.

Should I close a bank account I don’t use?

Closing an account may save you money in annual fees, or reduce the risk of fraud on those accounts, but closing the wrong accounts could actually harm your credit score. … If you still decide to close some accounts to help your credit score, start by looking at inactive accounts that you no longer use.

What is the charge for not maintaining minimum balance in Axis Bank?

Monthly Service Fee (AMB) of Rs.10 for every Rs.100 shortfall in required balance or Rs.250, whichever is lower, with a minimum charge of Rs.150. Waived off if AMB is maintained. * 15 transactions free per month post which charge of Rs.75/transaction would be levied.

Is there a charge to close a bank account?

Is there a fee for closing a bank account? Most banks do not charge a fee to close a bank account. … You can avoid fees like this by ensuring all of your transactions have cleared before closing the account.

Can we close Axis bank account online?

Note: It is not possible to close axis bank account online. Only account closure form can be downloaded online. … After withdrawing all the money, you can visit the branch and obtain an account closure form from the bank. Once you receive the form, you can fill the form.

What is the minimum balance in Axis Bank?

Axis Bank Minimum Balance Requirements The minimum balance amount ranges from as low as Rs. 2,500 to Rs. 1,00,000/-.

Which Axis bank account is best?

Prime Savings AccountUnlimited (free) cheque books, without any charge.Unlimited (free) Demand Draft (DD), without any charge.A Secure Plus Debit Card, at a zero issuance fee.Daily withdrawal limit of Rs 50,000 at ATMs.Daily limit of Rs 75,000 on shopping transactions.Earn Axis eDGE Reward points.More items…•

What happens if you close a bank account with money in it?

Most banks, when closing your account, would like to see the account being at zero before they proceed with the closure. If you have funds in your account, you can either withdraw them, transfer them, or the bank will deduct certain charges from them in order to cover its costs.