Axis Bank Savings Account Review| North Loop Official Blog
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09 Sep 2020

Axis Bank Savings Account Review

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Axis Bank Background and Overview –

Axis Bank is the third-largest private sector bank in India and has a market capitalization of $32 billion. With 4000+ bank branches and nearly 17000 ATMs across the country, it is one of the most popular banks in India offering a wide range of financial services like home loans, insurance, fixed deposit investments and more to individuals, corporates, SMEs, and retail businesses.

Catering to the various requirements of customers, Axis Bank offers a diverse range of savings account to serve your specific needs. All of its different saving account products have distinguishing features that are fundamental to managing your finances such as transferring money, paying utility bills, withdrawals, investing and so on.

Let us take a look at some of the Axis Bank savings account products and their primary features –

1. Easy Access Savings Account: This Axis bank asap account has an ATM withdrawal limit of Rs.40000 daily and offers a RuPay Platinum Debit Card. The Axis bank minimum balance for savings account here is Rs.10,000.

2. Prime Plus Saving Account: The Prime Plus Saving Account provides an ATM withdrawal limit of Rs.50,000 daily and a Free MasterCard Titanium Prime Plus Debit Card. The Axis bank account opening can be done with a minimum balance of Rs.10,000.

3. Women’s Savings Account: This account focuses on offering a simplifying banking experience to women and provides a Visa Classic Debit Card along with a daily ATM withdrawal limit of Rs.40,000. The Axis Bank minimum balance for savings account here is Rs.10,000.

4. Senior Privilege Savings Account: This account is available if you are 57 years or older. It offers a Visa Classic Debit Card and an ATM withdrawal limit of Rs.40,000. The Axis bank minimum balance for savings account for this product is Rs.10,000 in metro cities, Rs.5000 in semi-urban areas and Rs.2500 in rural centres.

5. Future Stars Savings Account: This account is primarily for those who are below the age of 18 years. It provides a personal accident insurance cover of Rs.2 lakh and a Visa Classic Debit Card. This Axis bank account opening can be done with a minimum balance of Rs.2500.

6. Pension Savings Account: You can enjoy the benefits of the account if you have already retired and are a pensioner. The Axis bank minimum balance for savings account for this category is nil. You also get a Visa Classic Debit Card and an ATM withdrawal limit of Rs.40,000 with this account.

7. Trust/NGO Savings Account: If you run an eligible Trust or NGO, you can open this account for free NEFT, RTGS and cash transactions. The ATM withdrawal limit for this account is Rs.40,000, and you also get a Visa Classic Debit Card.

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Axis bank savings account interest rates –

Axis Bank savings account interest rates range between 3.50% and 4%. The interest is calculated on the daily end of balance in your account and is payable quarterly. The interest rates offered on some of its savings account products are as follows –
  • Easy Access Savings Account – 3.50% - 4.00%
  • Prime Plus Saving Account – 3.50% - 4.00%
  • Women’s Saving Account – 3.50% - 4.00%
  • Senior Privilege Savings Account – 3.50% - 4.00%
  • Future Stars Savings Account – 3.50% - 4.00%
  • Pension Savings Account – 3.50% - 4.00%
  • Trust/NGO Savings Account - 3.50% - 4.00%


You can avail a much higher interest rate on savings account with digital banking service provider North Loop. It offers an industry-highest rate on both its savings and fixed deposit account that is 6% and 7.5% respectively. The sign-up and application process on its App is seamless, fast (only 5 minutes) and very user-friendly. You can read more about investing in fixed deposits by clicking here.

Eligibility criteria –

You can open a savings Axis Bank online account by fulfilling the following criteria –

a. You must be a citizen of India.

b. Your age should be 18 years or above (except for a minor savings account)

c. If you are a HUF, you should possess Form 60, Joint HUF letter signed by all adult members and ID as well as address proof of the Karta.

Documents required –

To be eligible to open an Axis bank asap account, you are required to submit the following documents –

For individuals –
  • Passport-sized photographs
  • Proof of identity
  • Proof of address
  • PAN card
  • Form 16


For HUF –
  • Copy of PAN Card
  • Form 16
  • Declaration form (from Karta)
  • Karta’s proof of identity
  • Karta’s proof of address
  • Signed Joint HUF letter


North Loop makes life easier by eliminating the need of all these documents and thereby, accelerating the process.

Axis bank online account opening procedure –

The first step in the Axis Bank online account opening process is visiting the bank’s website. Once you open its homepage, you can browse through the different savings account available on the page and choose the one that suits your needs. You can then apply for the Axis Bank online account by submitting all the documents mentioned above with the filled-in application form. If you face any difficulty while uploading the same, you can contact an Axis bank executive for further direction and help. Post-verification of your application form and KYC documents by the bank officials, you can submit the minimum balance requirement of the savings Axis bank online account chosen by you. The relevant bank documents offered after the Axis bank account opening will be available to you once all the above steps get completed, and your savings Axis bank online account becomes active.

Despite an Axis bank online account application option, the verification time taken to approve the KYC documents can vary with every application and cause undesirable delays in your account opening. Also, the list of documents required to open the savings Axis bank online account is changeable and can often involve additional proofs and validation. To eliminate the possibility of any such holdups or added distress, you can opt for a savings bank account with North Loop with minimal documentation and prompt services. You can sign up on the platform in the shortest time possible and open your account immediately with the utmost ease. Click here to sign up now!

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.