Axis Bank To Increase Service Charges On Accounts From June 1
Mumbai, 28th May 2022: Axis Bank has announced an increase in service charges on salary and savings accounts from June 1. The bank will increase the minimum balance limit in the savings account from next month. Apart from this, the bank has also increased the monthly service charge for non-maintenance of the minimum balance.
In a notification, the bank said, “The tariff structure for Savings/Salary Account is being revised with effect from June 1, 2022 / July 1, 2022.”
The monthly minimum balance has been increased from Rs 15,000 to Rs 25,000 in towns and rural areas. Not only this, but the charge for auto-debit failure has also been increased. This will come into effect from July 1.
Axis Bank customers will now have to pay more service charges for non-maintenance of the minimum balance in the account. The maximum monthly service charge for metro and urban areas will be Rs 600. For semi-urban areas, it will be Rs 300. For rural areas, it will be Rs 250.
The NACH debit failure fee has been increased to Rs 500. It will cost Rs 375 for the first time, Rs 425 for the second time and Rs 500 for the third time. Similarly, the charge for auto-debit failure has been increased from Rs 200 to Rs 250.
The bank has also increased the price of a cheque book from Rs 2.50 per leaf to Rs 4 now. This charge will be effective from July 1, 2022.
The physical detail and duplicate passbook fee has been increased from 75 to 100 per cent and is applicable on all savings account types with effect from July 1, 2022.
