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Axis Bank Revises Savings Account Charges From December 1
Sentiment: NeutralHigh Priority
What Happened?
Axis Bank will implement a revised fee structure for select savings accounts starting December 1, 2026. Changes include reduced free cash transactions and increased penalties for minimum balance shortfalls.
Key points
- Customers will see a reduction in monthly free cash transactions from four to three.
- The maximum penalty for not maintaining the Average Monthly Balance will increase for certain accounts.
- The EDGE REWARD points program will be discontinued for select accounts.
- The Total Relationship Value requirement will increase to 100% for premium accounts.
- Outward cheque return charges will rise to Rs 200 per return.
Key insights
- Customers may need to adjust their banking habits to avoid increased fees.
- The discontinuation of reward points could affect customer loyalty.
- Higher penalties may lead to more customers maintaining minimum balances.
Why it matters
These changes may increase banking costs for customers who frequently use cash services.
Tags
Entities
Axis Bank· OrganizationNRI· Person
Source
Times Now
