Quick Answer: Is Axis Bank Good For Salary Account?

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…•May 31, 2018.

Can I convert salary account to savings account?

Difference between Salary Account and Savings Account : When the salary has not been credited to your Salary Account for quite some time (usually three months) then the bank will convert your Salary Account into a regular Savings Account which will require maintaining a minimum balance.

What is Benefits of salary account?

However, there are certain common benefits that come with a Salary Account – zero minimum balance, free cheque book / passbook / e-statements, Debit Cards, NetBanking, Phone Banking, online fund transfer, Demat Account/services, loan conveniences, Credit Card offers, utility bill payments, etc.

How much money can be deposited in salary account?

Minimum deposit amount under the Deposit Scheme is Rs. 45,000 and additionally deposits may be made in multiples of Rs. 5,000. There is no restriction on maximum amount of deposits that may be made.

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

2) If customers are unable to maintain the monthly balance limit, the bank will levy a penalty of Rs 10 per Rs 100 of the shortfall. The non-maintenance of monthly minimum balance charges will be in the range of Rs 50 to Rs 800, the lender said.

What are the benefits of salary account in Axis Bank?

Here are the features and benefits of Easy Access Salary Account.Rupay Platinum Debit Card with daily withdrawal limit of Rs. 40,000 and purchase limit of Rs. 2,00,000.Complimentary Hospital Cash Insurance including COVID-19.2 Complimentary Airport Lounge Access per quarter.

Which is better HDFC or Axis?

Some of the key results of the comparison between the two banks are: Lowest Interest rate of HDFC Bank Personal Loan is 10.25%, which is lower than the lowest interest rate of Axis Bank at 10.49%. … HDFC Bank offers Personal Loan upto an amount of ₹ 75 Lakh while Axis Bank offer Personal Loan upto an amount of ₹ 25 Lakh.

Does salary account have interest?

Banks offer interest on both Salary as well as Savings Account. The interest rates depend on the type of Savings/Salary Account you have.

Can I change my salary account?

If you are working in government sector, you can change your salary account by submitting details of your new salary account to concerned department.

Should I keep my money in salary account?

The answer is : YES. Having more than 1 account is always advisable. … If you keep all your money in Salary account, which is having a Debit card and Internet banking facility, there is very high chance of spending more money. So to keep unnecessary expenses in check, you should have more than 1 account.

Who opens a salary account?

Salary Accounts can only be opened when an employer ties up with a bank. With this tie-up, the employer can transfer the monthly salaries in bulk in respective Salary Accounts of the employees.

Which bank is best for salary account?

Top 5 Salary Accounts in India, 2020Kotak Platina Salary Account.SBI Corporate Salary Package.HDFC Bank Classic Salary Account.Citibank Suvidha Salary Account.Axis Bank Prime Salary Account.Jan 10, 2020

Is Kotak better than axis?

Axis Bank scored higher in 3 areas: Career Opportunities, Compensation & Benefits and Culture & Values. Kotak Mahindra scored higher in 5 areas: Work-life balance, Senior Management, CEO Approval, % Recommend to a friend and Positive Business Outlook. Both tied in 1 area: Overall Rating.

Is salary account is a real account?

Salary account is an expense account and is a nominal account.

Where should I save my salary?

So, invest in a Systematic Investment Plan a.k.a SIP that will set aside a small part of your income each month and invest in mutual funds. This is one of the best ways to invest money….Pay Yourself FirstBest Ways To Invest Money.Top 20 Best Mutual Funds.Best Equity Funds To Invest In.Best Debt Funds To Invest In.

What is 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/-.

What is the minimum balance for Axis bank account?

With effect from 1st May 2021, Revision in Average Balance requirement and Fees on non-maintenance of Balance. Click here to view details. Monthly Service Fee (MSF) of Rs.10 for every Rs.100 shortfall in required balance or Rs.600, whichever is lower, with a minimum charge of Rs.150. Waived off if AMB is maintained.

What is the interest rate of salary account?

Savings AccountSalary accountSavings accountMinimum BalanceNo Minimum BalanceMinimum Balance RequiredConvertibilityIf the salary is not credit for 3 consecutive months, it is considered as savings accountOne can convert to salary account , if the bank allowsInterest ratesNo Interest paid4%-6% interest is paid2 more rows•Feb 28, 2020

Does Axis Bank charges for salary account?

And the most favored method is opening a salary account with a reputed bank….Fees and Charges Required on Axis Bank Easy Access Salary Account.SL NoParticularsAmount1Initial FundingZero2Average Balance Required (Metro)Zero3Account Service Fee (Metro)Not Applicable4Average Balance Required (Urban)Zero18 more rows

Can I save my money in salary account?

Salary account There is no minimum balance requirement. It can help you pay utility bills, transfer money, withdraw, and so on. Plus, most banks offer debit and credit cards which can be used while shopping as well as earn reward points, get discounts, cash-backs and much more!

Is Axis 2020 Safe?

Axis Bank is the third-largest bank in the private banking sector in India and hence it is very safe to invest. … The bank offers different loans and fee-based products and services to large and mid-corporate customers.

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