Axis Bank Zero Balance Account Opening

A Bank savings account comes with a deposit facility, where you can deposit funds and expect a considerable return through the interest earned on it. Banks usually have stipulated criteria of maintaining a minimum amount as your balance to continue your account. However, certain types of bank accounts do not tend to have such mandates of a minimum balance. Axis Bank's zero balance account is one such savings account.

What is an Axis Bank Zero Balance Account?

Axis Bank offers a Basic Savings Account, which has no condition to maintain any minimum balance to continue their account. It is known as a zero-balance account. Banks usually have the QAB or Quarterly Average Balance policy on their savings account, where you would be charged a non-maintenance fee if it does not meet the QAB requirements. Since a zero-balance account does not have any mandate to maintain a minimum balance, there are no such charges applicable to it.

Features and Benefits of Axis Zero Balance Account

Axis Bank offers various exciting features and provides various benefits for its customers opting for a zero balance account. These include the following:

• It does not have any QAB or Quarterly Average Balance charges since these savings accounts do not have the condition to maintain a minimum balance.
• You will receive a free RuPay Debit card.
• There are no cash deposit fees.
• You can avail of net banking and mobile banking services.
• You can have the chance to earn up to 3.0% to 4.0% interest on your daily balances every quarter.
• You can have access to more than 15,000 Axis Bank ATMs and over 5,100 Axis Bank branches in the country.
• You can also efficiently track the details of your account through various e-statements, passbooks and SMS alerts from time to time.

Axis Zero Balance Savings Account Eligibility

There are a few eligibility criteria that you need to fulfill in order to open a zero-balance savings account at Axis Bank. These include the following:

• You must be a citizen of India.
• You must be of or above 18 years of age.
• You must not have another savings account with Axis Bank.

Documents Required for Axis Zero Balance Savings Account

Here is the list of documents required for a zero balance account in Axis Bank:

• Recent passport-size photograph
• Address proof documents (Aadhaar card, passport, driving license, Voter ID, Job card by  NREGA or letter issued by National Population Registry).
• Identity proof documents (Aadhaar card, passport, driving license, Voter ID, Job card by  NREGA or letter issued by National Population Registry).
• A self-declaration duly signed by you that mentions that you have no other savings account with Axis Bank.

How to Open an Axis Bank Zero Balance Account?

Axis Bank offers their customers the option to open a zero balance account with them quickly through a simple and uncomplicated process online. So you can proceed with the following easy steps to open your zero balance account:

• Step 1: Make a physical visit to the nearest Axis bank branch.
• Step 2: From the bank representatives, take the account opening application form for opening a savings account and fill it out with the required details. 
• Step 3: Submit the application form and documents to the bank representatives. 
• Step 4: The bank officials will verify the application and open the account.

An Axis Bank zero balance account is one of the types of savings accounts that does not have any minimum balance requirement. Hence, you can easily opt for it at your nearest Axis Bank branch. However, it is always advisable to proceed with opening bank accounts only after thoroughly reading the bank's terms and conditions.

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