Axis Bank Zero Balance Account Opening Features Eligibility Process

Savings bank accounts in various banks offer numerous benefits. It helps you deposit cash in the form of savings and can be used as needed. These savings will help you earn interest over time. Banks will expect you to maintain a minimum balance, but certain accounts will help you to deposit cash and, at the same time, not require a minimum balance.  An Axis Bank's zero-balance account is one such account. 

What is an Axis Bank Zero Balance Account? 

As the name suggests, an Axis Bank zero balance account is an account where the account holder does not need to maintain a minimum savings account balance. This means the account will stay active. The account will also allow you to deposit and withdraw cash without requiring a minimum balance in your savings account. 

Step-by-Step Axis Bank Zero Balance Account Opening Online Process 

Opening an Axis Bank zero balance account online is quick and fully paperless. You can complete the entire process using your smartphone and basic documents like Aadhaar and PAN. Follow the steps below to open your account instantly: 

Step 1: Go to the official website of the Axis Bank 

Step 2: On the home page, scroll over the Accounts section, Select Savings Account. 

Step 3: On the right-hand side, the list of potential savings accounts that can be opened with Axis Bank is shown. Click the Zero Balance option.  

Step 4: The list of Zero Balance accounts that can be opened with Axis Bank props up. 

Step 5: Click the Open Now button. 

Step 6: A Verification form opens up prompting you to key in your PAN card and Mobile Number.  

Step 7: Check the Terms and Conditions check box, and click Proceed. 

Step 8: Another verification window prompts you to feed in the Aadhar Number to counter verify. Check the PAN Terms and Conditions and click the Proceed button. 

Step 9: An OTP will be prompted. 

Step 10: Some users may be asked to complete a short video KYC call with a bank official. This step helps convert the account into a full KYC-compliant account without visiting a branch. 

Step 10: Your Axis Bank Zero Balance account is opened for you. 

Features and Benefits of Axis Zero Balance Account 

Any bank account is always labeled with exciting features and benefits that attract customers. Axis Bank is not an exception to this rule. The following are some of the exciting features and benefits that come with the Axis Zero Balance account. They are:  

• Axis Bank Zero Balance account comes with no minimum balance requirements.  
• As you do not have any minimum balance requirements, you can do away with the Quarterly Average Balance charges.  
• The account offers a free RuPay debit card, as well as access to the internet and mobile banking.   
• Ideal for students, salaried individuals, and those with basic banking experience.  
• You have the option to earn 3% to 4% on your daily savings.  
• Features such as e-statements, passbooks, and SMS alerts help you monitor your account.  
• The accounts provide a way to save and bank without the pressure of maintaining a minimum balance.  
•  More than 5100 Axis Bank branches and more than 15,000 Axis Bank ATMs worldwide. 

Types of Zero Balance Accounts in Axis Bank

The following are some of the types of Axis Bank Zero accounts. They are:  

Government Scholarship Savings Account  

Features:  

• Zero Balance Facility  
• Free RuPay Debit Card  
• Free Cash Deposit  
• Monthly e-statements, passbooks, and SMS alerts  
• Withdrawal limit of Rs 40,000 on ATMs  
• Online shopping transactions limit of Rs 1,00,000  

 The Axis Bank Government Scholarship savings account offers stress-free banking with no minimum balance requirement. It provides you with the flexibility to earn interest on a daily or quarterly basis. The Account gives you the flexibility to access over 5,100 ATMs and 15,000 branches worldwide. Apart from this, you can access internet, mobile, and phone banking services.   

Eligibility:  

• An individual residing in India  
• Should not have an existing Axis Bank savings account. If you already have an account, it needs to be closed.  

Documentation:  

• Latest passport-size photographs  
• ID proof: Aadhar/Passport/Driving License/Voters ID card/Job card by NREGA/National Population Registry letter    
• Address proof: Aadhar/Passport/Driving License/Voters ID card/Job card by NREGA/National Population Registry letter  
• If your mailing address and permanent address differ, you must provide documentation for both.  
• The account is eligible for direct benefit transfer; therefore, Aadhaar updating is mandatory for basic savings account operations.  

Basic Savings Account  

Features:  

• Free RuPay credit card  
• Earn 2.5% interest on daily balances credited quarterly in your Account  
• Access 14,000 ATMs and 5800 Axis Bank branches  

 The Axis Bank Basic Savings account is a part of the Pradhan Mantri Jan-Dhan Yojana scheme. The Account offers complimentary cash deposits, as well as internet, mobile, and phone banking capabilities. You will receive electronic statements, SMS notifications, and a passbook with your Basic Savings account.  

Eligibility:  

• A resident of India  
• Not having an existing Axis Bank account   

Documentation  

Individuals  

• Two latest passport-size photographs  
• ID proof: Aadhar/Passport/Driving License/Voters ID card/Job card by NREGA/National Population Registry letter  
• Address proof: Aadhar/Passport/Driving License/Voters ID card/Job card by NREGA/National Population Registry letter  
• Only a single copy of the evidence is required if the document is listed in both ID proof and Address proof.  
• Evidence for both mailing address and permanent address if both are different  

Hindu Undivided Family  

• Copy of Aadhar card/Form 60 of HUF  
• Declaration from the Karta  
• ID Proof and Address Proof of Karta as per documentation   
• Prescribed Joint Hindu Family letter  

Small Basic Savings Account  

Features:  

• Free RuPay credit card  
• Zero Balance facility  
• Personal Accident Insurance coverage  
• No foreign inward balances allowed  
• Earn 2.50% interest on daily balances, quarterly  
• Get monthly e-statements, passbooks, and SMS alerts  

The Small Basic Savings account is a part of the PMJDY scheme. All withdrawals and transfers from the Account are limited to a maximum of Rs. 10,000 per month. All credits within the bank account are restricted to a maximum of Rs. 1,00,000 per year. The maximum balance is limited to Rs. 50,000 in the Axis Small Basic Savings Account. There are no foreign inward remittances allowed in the Account.  

Eligibility:  

• Resident of India  
• Not having an existing Axis Bank savings account  

 Documentation:  

• Documents as per the KYC procedure  
• If KYC documents are not available, you need to submit your  
• ID proof: Aadhar/Passport/Driving License/Voters ID card/Job card by NREGA/National Population Registry letter  
• Address proof: Aadhar/Passport/Driving License/Voters ID card/Job card by NREGA/National Population Registry letter  
• Two latest passport-size photographs  

Amaze Savings Account  

Features:  

• Zero balance account @200 p.m. or @2,200 p.a.  
• Debit card benefits and annual rewards worth Rs 11,000  
• No charges on domestic transactions  
• No charges for using Axis Bank ATMs  
• 2000 Edge reward points on spending Rs . 20,000 per month.  

Amaze is a zero-balance savings account designed specifically for customers who want a stress-free banking experience without maintaining a minimum balance. With Amaze, you can enjoy a quick opening process, along with annual benefits and access to over 250 banking services. Although this Account requires a low initial funding of Rs. 10,000, you can avoid fees or penalties for maintaining the minimum balance.   

Eligibility:  

• Must be an Indian Citizen  
• Original PAN and Aadhar card  
• PAN and Aadhar card are linked to each other  

Documentation:  

• A working camera smartphone  
• The bank’s representative can access your camera and location  
• You should do the initial funding through debit card/internet banking. 

 Basic Charges with the Axis Bank Zero Balance Account 

The following table clearly lists out the basic charges that comes with the Axis Bank Zero Balance account. They are: 

 How to Open Axis Bank Zero Balance Account Offline (Step-by-Step)  

Axis Bank offers customers the flexibility to open a Zero Balance account through a simple process. Please follow the list of steps below to open an Axis Bank Zero Balance account.   

Step 1: Make a physical visit to a nearby Axis Bank branch.  

Step 2: Take the Account Opening form from the bank’s representative to open a savings account.  

Step 3: Fill the application form with the requisite details. You need to upload the required documents to the bank’s representative.  

Step 4: After due verification from the bank’s side, the account is opened.  

Conclusion  

Opening an Axis Bank Zero Balance Account is one of the most innovative and convenient ways to manage your banking needs. Whether you are a student, a salaried employee, or a housewife, opening a zero-balance account will help you enjoy all the benefits of banking without the need to maintain a minimum balance. Choose the best Axis Bank Zero Balance account and take your first step towards Axis Bank for a trouble-free banking experience today.  

Frequently Asked Questions  

1. Can I open a 0 balance account in Axis Bank? 

Yes, you can open a zero balance account in Axis Bank. This type of account is offered as a Basic Savings Account or Amaze Zero Balance Savings Account, both of which do not require maintaining any minimum balance or AQB. You can open the account online through a simple Video KYC process or offline by visiting the nearest Axis Bank branch with your Aadhaar and PAN. These accounts also let you enjoy 250+ banking services without any minimum balance fees or charges.

2. Which is the best Axis Bank Zero balance account?  

For a zero-balance account with Axis Bank, the best variant is the AMAZE Zero Balance Savings Account - because it offers zero minimum balance, instant online opening, and 250+ banking services.

3. Is a PAN card mandatory for opening a Zero Balance account with Axis Bank?  

Yes. According to RBI guidelines, a PAN card is mandatory for opening a Zero-Balance account with Axis Bank.  

4. Can students open a Zero Balance account?  

Yes. Students can open an Axis Bank Zero Balance account, as it provides them with the flexibility to enjoy the benefits of banking without the stress of maintaining a minimum balance.  

Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Given that this type of data may change over time, we cannot guarantee the accuracy of the information supplied or included within it. It is anticipated that the user will confirm with the relevant source before making any choices or taking any actions.