Gratuity is a lump-sum benefit paid by an employer to an employee as a gesture of appreciation for long-term service. It is governed under the Payment of Gratuity Act, 1972, and is applicable to employees in the private and public sectors who meet specific eligibility criteria. Whether you are looking to understand the meaning of gratuity, its eligibility rules, Form F requirements, or the difference between gratuity and pension.What is Gratuity?Gratuity is a financial reward paid to employees who have rendered continuous service for at least five years with the same employer. It is a lump sum amount usually given at the time of retirement, resignation, or upon death or disablement. Gratuity is governed by the Payment of Gratuity Act, 1972 and applies to both government and private sector employees who meet the eligibility criteria. It is calculated based on the last drawn salary and the number of years served. In salary terms, gratuity is not deducted monthly like PF. Instead, it is paid by the employer at the time of exit based on a specific formula, making it a significant component of long-term employee benefits.Payment of Gratuity Act, 1972The Payment of Gratuity Act, 1972 mandates that an employee who has rendered continuous service for at least five years is eligible to receive gratuity upon termination of employment.

Axis Bank offers various debit cards, each with different benefits and charges. Knowing the debit card charges you must pay is essential as an existing Axis Bank account holder. You must also know the charges applicable to your Axis Bank savings account to choose the best bundle of benefits. Axis Bank debit card annual charges depend on the type and variant of your ATM/debit card. It is always best to check the Axis Bank debit card charges before applying for a new debit card in your bank.Axis Bank ATM Charges per year in 2025Axis Bank debit card types and charges are co-related. Follow this table to know the Axis Bank types and charges in 2025:ATM/ Debit Card VariantJoining Fees/ Issuance FeesRenewal/ Annual FeesReplacement FeesBurgundy Private Debit CardNILNILNILBurgundy Debit Card₹1500 + GST₹1500 + GSTNILPriority Debit Card₹750 + GST₹750 + GST₹200 + GSTPrestige Debit Card₹500 + GST₹500 + GST₹200 + GSTSampann Debit Card₹500 + GST₹500 + GST₹200 + GSTMastercard Premium Debit Card₹200 + GST₹200 + GST₹200 + GSTLiberty Debit Card₹300 + GST₹200 + GST₹200 + GSTVisa Platinum Debit Card₹200 + GST₹200 + GST₹200 + GSTSecure Plus Debit Card₹300 + GST₹300 + GST₹200 + GSTRupay Platinum Debit Card₹200 + GST₹200 + GST₹200 + GSTRupay Axis Republic Platinum Debit Card₹200 + GST₹200 + GST₹200 + GSTPower Salute Debit Card₹200 + GST₹200 + GST₹200 + GSTRuPay Chip CardNILNILNILRuPay Kisan Card₹150 + GST₹250 + GST₹100 + GSTRuPay Pungrain Arthiya CardNILNIL₹200 + GSTVisa ASAP Virtual Debit CardNILNILNILE-Debit Card₹500 + GST₹500 + GST₹100 + GSTBusiness Classic Debit Card₹250 + GST₹250 + GST₹200 + GSTBusiness Supreme Debit Card₹1000 + GST₹1000 + GST₹500 + GSTBusiness Platinum Debit Card₹500 + GST₹500 + GST₹200 + GSTDelight Debit Card₹999 + GST₹1500 + GST₹200 + GSTValue Plus Debit Card₹750 + GST₹750 + GST₹200 + GSTOnline Rewards Debit Card₹500 + GST₹500 + GST₹200 + GSTATM CardNILNIL₹200 + GSTAxis Bank ATM Withdrawal ChargesAxis Bank allows you to withdraw cash from an ATM for free up to a specific limit every month.

NEFT full form is National Electronic Funds Transfer. It is an RBI-regulated digital payment system that allows secure, bank-to-bank transfers across India. NEFT in banking works on a deferred settlement model where transactions are processed in half-hourly batches, making it suitable for non-urgent transfers. It is widely used for its 24x7 availability, cost-effectiveness, and ease of access through net banking, mobile apps, and bank branches.In the following sections, we will learn more about NEFT, including how it works, its benefits, requirements, and more. NEFT Full Form in BankingNEFT full form is National Electronic Funds Transfer. It is an RBI-regulated digital payment system that enables secure and one-to-one fund transfers between bank accounts across India.What is NEFT?NEFT in banking is a nationwide payment mechanism that processes transactions in half-hourly batches, 24x7x365, through a centralised system managed by the Reserve Bank of India (RBI).

UCO mPassbook is a convenient digital tool that allows users to access their passbooks directly on their smartphones. The app also allows users to easily track their account activities online. The UCO mPassbook helps users view account statements, monitor debit and credit transactions, and stay updated on account details anytime, anywhere.UCO mPassbook FeaturesHere are some key features that you must know while using the mPassbook of UCO Bank:  Digital Passbook Accessibility: It serves as a digital version of a traditional passbook. You can check your account balance, transaction history, and account details directly on your smartphone.Multi-Language Support: UCO Bank mPassbook supports 12 languages, catering to a diverse user base.User-Friendly Interface: It features a simple user interface. It is easy for all customers to use.Email Statements: Customers can send detailed account statements to their registered email addresses using the mPassbook app.Branch and ATM Locator: This app helps users conveniently locate the nearest UCO Bank branches and ATMs.Components of the UCO mPassbookA UCO Bank mPassbook contains the same information as a regular UCO Bank passbook.

Whether you want to save for the future or manage daily expenses, Citibank provides options like essential savings, salary, expatriate, senior citizen, and junior accounts. Each account type comes with unique features to suit different financial needs. Understanding the interest rates and minimum balance requirements is essential when opening a Citibank savings account. What is Citibank Savings Account?A Citibank savings account is an interest-bearing deposit account with certain restrictions on the number and amount of withdrawals permitted within a specified period. It is intended for personal transactions that are non-business and non-commercial. An individual can open a Citibank savings account as a single account holder or jointly with another individual.

Bandhan Bank offers various savings accounts to cater to customers’ diverse needs. Their savings account plans provide convenience, flexibility, and attractive interest rates. Bandhan Bank offers multiple savings account options with interest rates up to 8.15% p.a. and flexible minimum balance requirements starting from zero. This guide covers updated interest rates, minimum balance, benefits, and penalties to help you choose the right savings account.What is Bandhan Bank Savings Account?A Bandhan Bank savings account is a deposit account where customers can safely store their money while earning interest. This type of account aims to help customers build up savings and benefit from the growth of their account balance through interest accumulation. Types Of Savings Account in Bandhan BankEach of the savings accounts have distinct features and benefits:Savings Account TypeFeaturesNeo+ Digital Savings AccountA fully digital, paperless account with video KYC for easy online opening.Elite Plus Savings AccountPremium account offering exclusive lifestyle benefits and personalized services.Elite Savings AccountAccount with preferential banking privileges and lifestyle perks.Premium Savings AccountOffers attractive interest rates and premium banking services.Avni (Savings Account for Women)Tailored for women, providing financial and lifestyle benefits.Inspire ProgrammeDesigned for senior citizens, offering health and banking benefits.Advantage Savings AccountAccount with higher transaction limits and additional offers.Classic Savings AccountProvides superior banking services with a low balance requirement.Standard Savings AccountIdeal for individuals starting their savings journey.Sanchay Savings AccountLow maintenance account with easy access to banking services.Pension Savings AccountZero balance account for pensioners with attractive interest rates.Special Savings AccountDesigned for differently-abled customers with convenient facilities.Pradhan Mantri Jan-Dhan Yojana (PMJDY) Savings AccountZero balance account offering benefits like insurance and direct fund transfer.BSBDA Savings AccountBasic account with no minimum balance requirement.BSBDA-Small Savings AccountBasic account with minimal documentation and no minimum balance.Bandhan Super SaverAccount where funds beyond a threshold are transferred to fixed deposits.How Much Minimum Balance is Required in Bandhan Bank?The Bandhan Bank savings account minimum balance differs based on the exact type of savings plan that you choose.

Bank of India offers a variety of savings accounts with competitive interest rates and flexible minimum balance requirements. You can choose from multiple account types tailored to your financial needs. Understanding the current interest rates and balance criteria can help you select the most suitable Bank of India savings account and maximize your financial benefits.​What is a Bank of India Savings Account?A Bank of India savings account is a deposit account that enables individuals to store funds securely while earning interest from the balance. Their range of savings account plans provides customers easy access to funds through online banking, ATM withdrawals, and cheque books. These accounts are also easy to maintain and require a minimum balance.

The Bank of Maharashtra savings accounts provides several categories of savings accounts, from regular to premium categories. Bank of Maharashtra savings accounts are tailored for youth, pensioners, women, and low-income groups. The bank offers secure banking with interest rates up to 2.75% per annum. Continue reading this blog to gain detailed insights about the Bank of Maharashtra savings account interest rate, its features, benefits, and more. What is a Bank of Maharashtra Savings Account?A Bank of Maharashtra savings account enables you to manage finances and earn interest on savings. You can deposit and withdraw money from this account anytime you want. Individuals who save regularly can choose to open this account. A Bank of Maharashtra savings account comes with ATM cards, passbooks, and internet banking services.

The DCB Bank savings account interest rates go up to 6.00% p.a., making it one of the most competitive options in India. DCB Bank offers multiple account types with flexible minimum balance requirements—whether you're managing personal savings or seeking digital-first features. These accounts come with benefits like cashback, free ATM transactions, and digital banking access. Keep reading to explore the DCB Bank interest rates on saving account types, features, and how to choose the best one for your needs.What is a DCB Bank Savings Account?The DCB Bank savings account is a secure and convenient money-saving method. It enables an individual account holder’s savings to grow at competitive interest rates. The funds can also be accessed through online banking, mobile banking, and ATMs. The account also offers other distinguishing features such as bill payment, debit card issuance, free fund transfer, etc.

Federal Bank offers a range of savings accounts with interest rates starting from 3% per annum and flexible minimum balance requirements. Whether you're looking for a zero-balance account or one that rewards higher balances with better rates, Federal Bank caters to diverse financial needs. Federal Bank savings accounts provide you with digital banking access, debit card benefits, and customised options for women, youth, and senior citizens.What is a Federal Bank Savings Account?A Federal Bank savings account is a secure deposit account that helps individuals grow their money while maintaining easy access to funds. It allows you to earn interest on your deposits and comes with features like ATM withdrawals, debit cards, internet and mobile banking, UPI services, and fund transfers.Federal Bank offers multiple types of savings accounts tailored to specific needs—whether you are a student, salaried individual, homemaker, or senior citizen. Some accounts require a minimum balance, while others, like the BSBDA and Yuvamitra accounts, offer zero-balance facilities.