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Axis Bank Revises Transaction Fee On Savings & Salary Accounts
Axis Bank, the third-largest private sector bank of India is going to revise its financial transaction fee on salary and savings accounts. According to the bank's official website, the new charges will come into force on 1st January 2022. In an official statement, the bank has said that "Effective 1st January 2022, financial transaction fee above the free limit in Axis Bank or other bank ATMs will be INR 21 + GST."
Axis Bank is going to charge a fee of INR.21 per transaction from next month if a customer surpasses the free limit on Axis/Non-Axis ATM: Cash Withdrawal (Financial transactions).
On the other hand, the bank has not made any changes on Axis/Non-Axis ATM: Balance Enquiry (Non-Financial transactions). Hence, the bank would charge an existing fee of INR.10 per transaction for surpassing the free limit from 1st January 2022.
Axis Bank Financial Transaction Fee
| Fee Type | Existing | Revised |
|---|---|---|
| Axis/Non-Axis ATM: Cash Withdrawal (Financial transaction) fees beyond limits | INR.20 per transaction | INR.21 per transaction |
| Axis/Non-Axis ATM: Balance Enquiry (Non-Financial transaction) fees beyond limits | INR.10 per transaction | No change |
| Source: Bank Website |
For Value-Based Current Account holders, Axis bank had also revised its fees and service charges in the previous month and the new charges are in force from 01-11-2021. The new charges are applicable on selected schemes such as Normal (CANOR), Advantage (CAADV), Select (CASEL), Large Retailers & Distributors (CAPHM), Business Classic (CABCA), Business Privilege (CABPL), Channel One (CACH1) and Club50 (CAC50).
For cash handling charges on cash deposited in Low Denomination Notes (LDN), the bank had revised its charges to 1% on the value of cash deposited in Low Denomination Notes, exceeding Rs. 15,000 per month, either in single or multiple transactions. Low Denomination Notes include currency notes and coins of denomination Rs. 50 and below and other fees and charges applicable to your Current Account, not specified above, will remain unchanged, according to the bank.
