Axis Bank Basic Savings Bank Deposit Account

Basic Savings Bank Deposit Account is a zero-balance account offered as part of the Pradhan Mantri Jan-Dhan Yojana (PMJDY) scheme of the Government of India. The account aims to provide financial inclusion, so everyone can access basic banking services without maintaining a minimum balance.

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Includes Life Cover
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3 Benefits, 1 Plan
Maximum returns offered by:
7.4%* (Tax-Free)

Guaranteed Plan

(By Insurance companies)
4.6%* (After Tax)

Fixed Deposit

(Offered by Banks)
4.0%*

Savings Account

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6.5%**

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(by SBI bank)

(5-10 Years)

6.9%***

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(other popular options)

(15 Years)
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We are rated++
rating
15.8 Crore
Registered Consumer
53
Insurance Partners
7.16 Crore
Policies Sold

What Is the Axis Bank Basic Savings Bank Deposit Account?

Basic Savings Bank Deposit Account is an Axis Bank Zero Balance Account where maintaining a minimum balance is not necessary. With a free RuPay debit card, free cash deposits, and widespread ATM all around the country, it is one of the best savings accounts for individuals seeking basic banking facilities. Additionally, customers can easily access and maintain this account online through the bank’s mobile application or with internet banking.

Features and Benefits of Axis Bank Basic Savings Bank Deposit Account

Basic Savings Bank Deposit Account is created to make sure everyone has access to a savings account in India with features that make banking easy and convenient.

  • Earning Interest: The money which you keep in your savings account can earn interest at a rate decided by the bank. Currently, Axis Bank offers an interest rate of 2.50% p.a. on savings account balances below ₹2,000 crore.
  • Convenient Banking: Axis Bank has a huge presence with over 14,000 ATMs and 5,800+ branches, which are always available to assist account users with every financial need.
  • Bank Updates: The bank keeps the account holders updated regularly in the form of electronic statements and SMS notifications. The Basic Savings Bank Deposit Account holders also receive a passbook.
  • PMJDY RuPay Debit Card: A RuPay debit card is given to every account holder and the card is issued for free. It does not incur any annual charges.
  • Insurance Benefit:Basic Savings Bank Deposit Account offers Personal Accident Insurance Cover of up to ₹2 lakh. But to enjoy this benefit, customers need to make a POS payment with their card at least once every 90 days.
  • Digital Banking: You can access your Axis Bank savings account online with mobile and internet banking. Customers can pay bills, transfer money and block their cards online.

Eligibility Criteria and Documents Required

Since inclusion is the aim of this savings account, all residents of India can open a Basic Savings Bank Deposit Account under the terms and conditions of the bank.

  • Customers should be Indian residents.
  • Minors can open an account.
  • The applicant cannot hold another basic or small savings bank deposit account.
  • The applicant cannot have another PMJDY account.
  • Documents that can prove your identity and address.
  • Two passport-size photographs.

How to Open the Axis Bank Basic Savings Bank Deposit Account

You can apply for a Basic Savings Bank Deposit Account either online through the Axis Bank website or offline at a bank branch.

  • Fill out the application: Enter your details as per the bank's request.
  • KYC submission: Provide KYC details as per bank instructions.
  • Send the form: Submit the application with the required documents.
  • Account activation: After successful opening of the account, the bank sends a notification on your registered mobile number.

Fees and Charges for the Axis Bank Basic Savings Bank Deposit Account

Since the Basic Savings Bank Deposit Account is a zero-balance account, there are no required fees to maintain the account.

Particulars Details
Initial funding NIL
Average Monthly Balance (AMB) NIL
RuPay Debit Card Issuance Fee Nil

Frequently Asked Questions

  • What is the ATM withdrawal limit of the Axis Bank Basic Savings Deposit Bank Account?

    Account holders can withdraw up to ₹40,000 per day at an ATM with the PMJDY RuPay debit card. For other transactions like POS, the limit is ₹1 lakh.

  • How can I check the balance in my Basic Savings Deposit Bank Account?

    Axis Bank balance check can be easily done online at the bank’s app or through internet banking. Another option is to visit any branch and update your passbook.

  • Is it possible to open a joint Basic Savings Deposit Bank Account?

    Yes, the bank gives the option to either open the account solely or jointly with one or more individuals.

  • Can I check my Axis Bank Mini Statement offline?

    There are usually two ways to check your Axis Bank mini statement offline. You can go to a bank and ask for a mini statement or go to an Axis Bank ATM and acquire the mini statement.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
* Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy male of 18 years old paying Rs. 30,000/- monthly (exclusive of all applicable taxes)
** Fixed deposit rate applicable for 5 year's 1 day to 10 years for investment amount less< 2 Crore ( Not for senior citizens).
*** PPF interest rate applicable for 15 years for investment amount upto 1.5 Lac
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
##The Guaranteed Returns are dependent on the policy term and premium term availed along with other variable factors. 7.4% rate of return is for an 18-year-old, healthy male for a policy term of 20 years and a premium term of 10 years with ₹5,00,000 annually installment premium. All plans listed here are from insurance companies’ funds.
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