Axis Bank has also changed the SMS charge. Earlier, every month SMS charges were Rs 5, but now you will have to pay 25 paise on every SMS alert. It can go up to a maximum of 25 rupees in a month.
This is important news for Axis Bank customers. The bank has made changes in many of its rules which are going to come into effect from May 1. There are many things related to withdrawing cash, SMS facility and minimum balance in the account in these rules. There is a provision for penalty for not keeping the minimum amount in the account, which is more than other banks.
The first thing to be maintained in the minimum balance account. The amount that was previously maintained in the account every month, has now been increased. From May 1, you will have to keep at least 15 thousand rupees in the account. Earlier this amount was 10 thousand rupees. Now a minimum balance of 25 thousand rupees has been fixed for Prime and Liberty brand saving account. Earlier this amount was 15 thousand rupees. If this much money is not kept in the account, then a penalty of Rs 10 per 100 rupees will be imposed.
How much will the fine be
For example, from May 1, if you have an average of 5 thousand to 7500 rupees deposited in your account in a month, then the bank will charge you more than 800 rupees. If you look at this charge of Axis Bank, it is more than HDFC Bank and Kotak Mahindra Bank. The non-maintenance charge of minimum balance is Rs 600 in HDFC Bank and the same in the savings account of Kotak Mahindra Bank. But Axis Bank has increased it to Rs 800. HDFC and Kotak Mahindra Bank have to keep a deposit of at least 10 thousand rupees every month.
Cash withdrawal fee
Axis Bank offers 4 free transactions up to 2 lakh rupees every month. When this rule is broken, 5 rupees are charged from the bank for every 1 thousand withdrawals. Now from May 1, this amount is being doubled. If any transaction exceeds the free limit, then you will have to pay 10 rupees per 1 thousand. HDFC and ICICI Bank have so far kept this charge at Rs 5 only. It is being said that the penalty imposed on the transaction has been increased so that people avoid withdrawing money from ATMs and insist on online payment.
Sms fee
Axis Bank has also changed the SMS charge. Earlier, every month SMS charges were Rs 5, but now you will have to pay 25 paise on every SMS alert. It can go up to a maximum of 25 rupees in a month. It is going to come into effect from 1 July. It does not include OTP and promotional messages. Some new rules have been made regarding the SMS by the Telecom Regulatory, which has changed the message rules on behalf of the bank.
Change in salary account
The salary account of Axis Bank has also been changed. If there is no money in the 6-month-old account every month, then a fee of Rs 100 will be charged every month. Experts tell that after leaving the job for this, the salary account should either be closed or it should be converted into a savings account. If the salary does not come in the salary account of Axis Bank for 17 consecutive months, then a penalty of Rs 100 can be charged on the 18th month.
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