New Delhi: Axis financial institution clients may have to brace themselves, because the non-public lender has revised its varied charges that can come into impact from May 1, 2021. From average balance requirement to SMS charges to increased cash withdrawal, right here’s the whole lot that Axis Bank has revised for its clients.
Average balance requirement increased
Axis Bank clients will now have to preserve a month-to-month average balance of Rs 15000, up from Rs 10,000. Meanwhile, Prime and Liberty branded financial savings account holders will now have to preserve a month-to-month balance of Rs 25,000, up from Rs 15,000 earlier.
If you fail to preserve the boundaries set by the financial institution then prepare to pay Rs 10 per Rs 100 of the shortfall. However, Axis Bank has decreased the minimal charges that it could possibly cost as a wonderful to Rs 50, whereas it has increased the utmost penalty to Rs 800 from Rs 600.
Withdrawal charges increased
Axis Bank at the moment charges Rs 5 per Rs 1,000 per withdrawal after the free 4 transitions or cash withdrawals of up to Rs 2 lakh in a month. Customer will now have to pay Rs 10 for cash withdrawals after exhausting their free restrict from May 1 onwards.
HDFC Bank and ICICI Bank haven’t revised their charges but and their charges nonetheless stand at Rs 5 per withdrawal after a buyer exhausts the month-to-month free restrict.
Change in SMS charges
Axis Bank clients will now have to pay extra as SMS charges. The financial institution will cost 25 paise per SMS alert, up to a most of Rs 25 per thirty days, as a substitute of the present Rs 5 each month. The rule can be efficient from July 1. However, the financial institution gained’t cost for one-time passwords and transactional OTPs.
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