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Correlation Of Inflation to Savings Account

Saving money is always a good idea, but making sure your savings account is structured, in the right way can help you take advantage of inflation while keeping your money safe. A Savings Account overview will give you a better idea of how to pick the right one for you.

What is an inflation-proof saving account?

A savings account is the best way to save for inflation, as the money you put in will stay relatively stable regardless of inflation rates. When inflation rises, the purchasing power of your money will stay the same, preserving your wealth over time. In addition, savings bank account interest rate can grow over time, providing even more stability and protection against inflation.

A savings account is a type of deposit account that typically requires a higher minimum balance than a checking account and offers the depositor a higher interest rate. Savings accounts are offered by banks, credit unions, and other financial institutions. Most often, the funds in a savings account are insured by the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Association (NCUA).

Opening a savings account is a cakewalk these days. The internet has bought many ways for opening a savings account online in just a few minutes along with digital bank account opening for zero balance. The best part about opening a savings account online is that there are no fees and no minimum balance requirements. So, you can start saving for your future without having to worry about any upfront costs.

Benefits of a high-yield savings account

A high-yield savings account is a great option for people who want to protect their money against inflation. Here are some of the benefits of having a high-yield savings account:

1. You will have more money available to save for future needs.

2. You will be able to get higher rates of interest on your money.

3. You can easily access your money if you need it in a hurry.

4. Your money is safe and secure in a high-yield savings account.

A savings account is the best way to preserve your purchasing power in the event that inflation rises. By depositing money into a savings account, you are locking in current prices and preventing yourself from being overcharged down the road. This means that over time, the total value of your deposited money will grow even if inflation increases.

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Is It Good to Open a Zero-Balance Account?

In today's era of digital banking, opening a zero-balance account has become a popular option among many people. Such an account does not require any minimum balance to be maintained, making it an attractive choice for those who have a limited income or those who want to open an account with no financial burden. However, before making the decision to open digital bank account, it is important to understand its pros and cons.

Benefits of a Zero Balance Accounts

Convenience and accessibility are two of the biggest advantages of opening a zero-balance saving account. With no minimum balance requirement, customers can easily open an account and use it for basic banking transactions, such as depositing or withdrawing money. Many banks also offer free ATM services, which makes it easier for customers to access their money anytime and anywhere. Such zero balance accounts also offer same interest rate on saving account.

Another advantage is that such accounts are low-maintenance. Customers do not have to worry about incurring penalties for not maintaining a minimum balance, and they can close the account whenever they want without having to worry about any charges.

Drawbacks of a Zero Balance Account

While there are several benefits to opening a zero-balance account, it also comes with some drawbacks. For instance, customers may not be able to enjoy the benefits that come with higher-tier accounts, such as rewards, cashback offers, and other financial incentives.

It can also be noted that some banks charge higher transaction fees for zero balance accounts, which could add up over time. Customers may also have limited access to certain features, such as overdraft facilities, which could be inconvenient if they need to borrow money.

Moreover, banks may not be as keen to provide personalised service to customers with zero balance accounts as they are to those who have higher-value accounts, which could be a disadvantage if customers require additional banking services or support.

In the end opening a zero-balance account has its advantages and disadvantages. Customers should weigh the benefits and drawbacks of such accounts before making a decision. While it can be a convenient option for those who do not have a lot of disposable income, it may not be suitable for everyone. In the end, the decision to open a zero-balance account should depend on one's individual needs and financial situation.

Axis Bank provides zero-balance account opening facility.

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Four Genuine Reasons You Should Buy a Home Before Turning 30

Buying a home is a major financial decision that requires careful consideration. While many young adults are hesitant to purchase a home before turning 30, there are several genuine reasons to consider taking this step. In this blog, we will explore four of these reasons and how they can benefit you in the long run.

Building Equity

One of the most significant benefits of buying a home before turning 30 is the opportunity to build equity. Equity refers to the difference between the current value of your home and the amount you owe on your mortgage. As you make your monthly mortgage payments, your equity increases, providing you with a valuable asset that can be used in the future. Building equity can also help you achieve financial stability and provide a sense of security for you and your family.

Potential Tax Benefits

Another reason to consider purchasing a home before turning 30 is the potential tax benefits. As a homeowner, you may be able to deduct your mortgage interest and property taxes from your income taxes, potentially reducing your overall tax liability. This can help you save money in the long run and make homeownership more affordable. Check your home loan EMI calculator. Now, you will be able to deduct the same from total income and claim exemption.

Locking in Low Interest Rates

Home loan Interest rate on mortgages can fluctuate, but historically, they tend to be lower for younger homebuyers. By purchasing a home before turning 30, you may be able to take advantage of lower interest rates on home loan and lock in a fixed rate mortgage. This can help you save money over the life of your loan and make your monthly payments more affordable.

Flexibility and Freedom

Owning a home before turning 30 can also provide you with flexibility and freedom. When you own your own home, you have the ability to make changes and updates to the property, such as remodelling the kitchen or adding a deck. You also have the freedom to decorate and make the space your own, without worrying about violating a lease agreement.

In the end, buying a home before turning 30 can be a smart financial decision, providing numerous benefits like building equity, potential tax benefits, and establishing roots in a community. However, it is important to carefully evaluate your options and consider your unique circumstances before making any major financial decisions.

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Mistakes that you must avoid while opening a bank account

We all know what we need to open online bank account, especially in terms of the documents that are required over here and the process that has to be followed in this case. However, there are a few common mistakes that we make in these cases and this is something that we need to know more about as well. The thing is that these mistakes happen because most people take this particular process too lightly. These mistakes turn out to be rather harmful in the long run. So, there are a few things that we need to know in this context.

Mistakes to avoid while opening the account 

When you open a bank account you must provide authentic documents that your bank is asking of you. It does not matter if you are opening a zero balance digital accountor a physical savings account. Remember that the bank would conduct due diligence at definite intervals and if it finds that the documents are forged it could freeze the account. This in turn would mean that you would not be able to use the money that you have in the account. Customers also need to make sure that the name of the account holder in the bank and their original name are the same.

Mistakes to avoid while operating the account 

If any bank offers you a high bank interest rate on saving account it would have a substantial minimum balance requirement as well. If you do not maintain that, charges could be deducted from your savings. It is also wrong to think that you can deposit cash only in the branch. These days, you have cash deposit machines at several banks where you can perform this particular function as well. Similarly, it is not as if you can withdraw money only from ATMs (automated teller machines) of your bank. 

One of the biggest mistakes that you can make in this context is to not open an account at a top bank such as Axis Bank. This is because these banks provide you with the best features and facilities – all that you could want from such an account. Apart from these, make sure that you never sign a blank document such as a cheque. Never use the same password for your cards for a long time. It is also unwise to share these details with people you do not know.      

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Things that you must consider when you are opening a savings account

For most people out there a savings account is the primary way of interacting with financial institutions such as a bank. When you open savings account online you have an avenue where you can keep your extra money safe. Having such an account makes sure that you can gradually build a nest egg for the people you care about. The sad thing is despite being so important in their financial portfolios most people do not research much – if not nothing – about them before they open them. However, you would not want to make the same mistake now, would you? So, here are a few things that you need to keep in mind in this context.

The interest rate 

The bank savings account interest rate is always the most important factor for most people when they are opening these accounts and justifiably so, it may be added as well. This is because it is the interest rate that goes a long way in determining how much money you end up saving in such an account. These days, however, savings banks offer the lowest rate of interest among all avenues of investment in the country thus magnifying the importance of this particular factor in this specific context.

The average minimum balance rules and regulations 

If you prefer digital account opening zero balance this is something that you do not have to worry about. Still, this is there in almost all bank accounts nowadays. Please remember that this requirement differs based on the bank where you have opened the account. As far as the public sector banks go this requirement rarely goes up over 2000 rupees a month. In the case of the private sector banks, this can be anywhere between 5000 and 10,000 rupees a month though. This is where you realize the value of a great bank such as Axis Bank that lets you open a basic savings account for a minimum balance.

There are several other factors that you need to keep in mind in this particular context. The bank must be able to provide you with round-the-clock banking every day of the week. It must have a lot of branches and ATMs (automated teller machines) at least in the city where you live. It must offer you commendable credit facilities along with various other offers such as discounts on certain financial transactions such as electricity bill payments. Its fees and charges must be reasonable too.    

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Digital Savings Account Benefits In 2023

In the current digital age, digital banking has revolutionised the way people manage their finances. Digital savings accounts are an essential tool that enables people to manage their savings with ease, security, and convenience. Here are some benefits of digital savings accounts that we can expect to see in 2023.

Ease of Account Management for digital account opening

With digital savings bank account, account opening and management is easy and straightforward. Customers can open and manage their accounts from the comfort of their homes, using their computers or smartphones. Digital banking platforms offer user-friendly interfaces that make it easy for customers to access their accounts, check their balances, and transfer funds. In 2023, we can expect digital banking platforms to be even more user-friendly and convenient.

24/7 Access to Funds

Digital savings accounts offer customers 24/7 access to their funds. This means that customers can withdraw funds, transfer money, or pay bills at any time, from anywhere. With the growing availability of mobile banking apps, we can expect this convenience to become even more ubiquitous in 2023.

Higher Interest Rates

Digital saving account rate of interest typically offers higher saving account rate of interest rates than traditional savings accounts. This is because digital banks have lower overhead costs and can pass on the savings to their customers in the form of higher interest rates. In 2023, we can expect the competition among digital banks to intensify, which will lead to even higher interest rates for digital savings accounts.

Lower Fees

Digital savings accounts often come with lower fees compared to traditional savings accounts. With digital banking, customers can save money on fees such as monthly maintenance fees, ATM fees, and overdraft fees. In 2023, we can expect digital banks to continue offering lower fees to attract more customers.

Enhanced Security

Digital savings accounts offer enhanced security features such as two-factor authentication, biometric identification, and encryption of sensitive data. These security features protect customers' personal and financial information from fraudsters and cybercriminals. In 2023, we can expect digital banks to invest even more in security to ensure that their customers' data remains secure.

To sum up, digital savings accounts provide a user-friendly and secure way for people to manage their finances. The convenience of 24/7 access to funds, higher interest rates, and lower fees, along with enhanced security, makes them an essential tool for customers. As digital banking continues to grow, digital savings accounts will continue to offer benefits to their users.

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Five Facts You Should Read Now to Know About Your Savings Account

Right from your childhood days, most of you would have been brought up with the habit of saving a small amount in your piggy bank. Likewise, you can open a savings account in a bank and deposit your money and earn some interest on it. It would look simple, but there are many aspects to a savings bank account. Let's see them one by one.

Digital savings account

Leading banks in India give you the facility to open an online savings bank account & Digital Savings account in a few minutes if you have the PAN and Aadhar card as your identity and address proof. E-mail id and mobile number are also needed.  As an innovative idea to lure customers, some banks even give the option to customers to choose the bank account number of their choice, which many find lucky and sentimental to them.

Good interest rates in a savings account

Normally the savings account interest rate hovers around 3% to 4% p.a. in nationalized and private banks. But, with the launch of small finance banks, you can get interest of around 6% to 7% for maintaining a balance of about Rs.1, 00,000. Even if it is below Rs.1, 00,000, you can still get around 5%, which is quite good. In banks, the interest rate for FD itself is around 6 to 7%. So, keeping the liquidity factor in mind, opening a savings account in a small finance bank sounds like a good option.

Savings bank account for all

To make banking possible for all in every nook and corner of our country, our government has come up with a BSBA (Basic Savings Bank Account Scheme), under which you can open a savings account with no minimum balance charges and a free ATM card. You can even maintain zero balance.

Auto Sweep-in facility

If you have idle funds in your savings account, why not switch it to an FD and earn high interest and transfer it back to a savings account whenever you need it. By adopting this facility, you earn more interest.

Dormant and OD Accounts

If you don’t have the idea of operating your savings account or in the event of the death of the account holder, it is better to close it, to avoid charges, and from making it become OD (overdraft) in case of a very low balance in it. This is a practical case in all banks. Funds in the dormant account are transferred to IEPF (Investor Education Protection Fund) if it remains unclaimed for 7 years.

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Easy Home Loan Eligibility to Buy Dream House

Buying a dream house is a significant milestone for many people. However, for most people, the biggest hurdle to owning a home is securing the finances needed to make that dream a reality. With the right home loan eligibility, it is possible to secure the financing you need to buy your dream house. In this blog post, we’ll take a look at some tips to help you qualify for a home loan.

Know Your Credit Score for application of home loan

Lenders assess your eligibility for a home loan based on various factors, with your credit score being one of the most crucial ones. A good credit score showcases your track record of timely repayment of debts to lenders. It is crucial to check your credit score regularly and maintain a good score, with a credit score of 700 or above being generally considered favourable for obtaining a home loan. Having a good credit score can significantly enhance your likelihood of approval.

Save for a Down Payment

When you buy a home, the down payment refers to the initial sum of money you pay. Paying a higher down payment reduces the amount you need to borrow from the lender, thus increasing your chances of loan approval. Lenders generally expect a minimum down payment of 20% of the home's value. Therefore, it is crucial to start saving early for a down payment. Check the home loan EMI calculator available online before you think of getting involved.

Evaluate Your Debt-to-Income Ratio

Apart from your credit score and down payment, lenders evaluate your debt-to-income ratio to determine your eligibility for a home loan. This ratio represents the percentage of your income allocated to debt payments, including credit cards, car loans, and student loans. Therefore, it is crucial to assess your debt-to-income ratio and take necessary measures to improve it if required. This will help in paying EMIs more than you would have thought of.  Though in any circumstances, home loan interest rate is directly proportional to timely policies issued by government.

Maintain Stable Employment

In addition to credit score, down payment, and debt-to-income ratio, lenders consider your employment history and income to determine your home loan eligibility. Therefore, it is essential to have a stable job and show a consistent income stream to increase your chances of loan approval.

In the end, with these tips in mind, you can increase your chances of securing a loan and move one step closer to owning your dream home.

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Some Easy Ways to Get a High Savings Account Interest from Your Bank

As far as families and individuals in India go one of the best ways to save money is to open a savings account. It provides them with a safe place where they can keep their money and use that to carry out various transactions such as making payments, drawing cheques, and making investments. Savings accounts can also act as a stable source of income for you. However, for that, you need at least decent bank interest rates on savings account. The question that needs to be asked over here is how you can go about getting them. Well, here we would talk about that.

Try to maintain a high average monthly balance 

You may open online bank account that offers you a great interest rate but all that would come pretty close to a cropper if you keep spending money indiscriminately from over there. You have to find ways to curb that spending and maintain a high balance over there. You can also be smart about it though. Just make sure that at the end of each month you have a high monthly balance. If that means depositing back all the money that you took out from the account for shopping into it again at the end of the month then so be it.

Opening specific savings accounts 

You can be sure that starting a zero balance digital account would not be of much help to you in this case as in most instances they do not provide you with any interest, let alone an interest rate to speak of. Instead, you can go for the types of savings accounts where banks offer higher rates of interest on savings compared to normal savings accounts. These are mostly age-based accounts such as accounts for kids, senior citizens, and youths. 

As we have said already, in India, a savings account is one of the best ways to save money. All you have to do is adhere to the tips and tricks that we have mentioned over here and you should be able to make the most of the interest rates being offered to you by your bank. It also helps if you can open the account at a leading bank such as Axis Bank which is well-known for providing high rates of interest on savings accounts along with other such facilities. These days, these banks are also making it so easy to open these accounts – that helps too.    

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How can online savings accounts benefit you?

Once you start your day there are so many challenges that you have to meet both on the personal and the professional fronts. You have to drop your kids to school, meet deadlines at your workplace, visit project sites, meet clients, go grocery shopping while you return home from work, etc. The list of things that you have to complete within a day is endless, and this means that you have very little time to visit your bank branch physically so that you can access your savings account. This is why you should open savings account online – it can make your life so much easier. 

It is easy to open these accounts 

This is the first benefit that you get from digital account opening zero balance. This is just one of the many ways in which they offer you greater convenience in terms of the banking aspect of your life. Previously, when you had to open a bank account you had to visit the branch physically and also deal with paperwork that was as cumbersome as it got. Compared to that era it has become completely effortless now. This has been possible thanks to the ongoing digital transformation of the country.

They provide you with higher rates of interest 

The higher bank savings account interest rate that you get from these accounts is another reason why you should open them as well. In any case, offline savings bank accounts provide you with what can be termed moderate rates of interest on savings at best. This ranges from 2.75% to 4% per annum. The interest rates that you get from online savings accounts are comparatively higher. In these cases, you can earn anywhere between 5% and 7% per year. In certain cases, you could earn even higher than that depending on how much money you have in your account.

An online savings account could become the cornerstone of an effective financial management strategy provided you get it from a leading bank such as Axis Bank. As you have seen above, starting a digital bank account can be extremely helpful for you. Apart from better interest rates you get easy access to funds, banking on the move, automated bill payments, etc. However, as we have iterated already, it is important that you choose a reliable and trusted banking partner as that makes it easier for you to get the best account in these cases.         

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Factors That You Must Consider While Opening a Savings Account

Even now in this digital age, for most people in India, a saving account is their primary mode for interacting with financial institutions such as banks. These accounts play the role of a repository where people put their extra cash and build a nest egg for their families. Despite the importance that these accounts have in our financial portfolios – and our lives by extension – they are the least researched among all the financial instruments in the country. As sad as it sounds, it is true indeed and so, before you choose such an account you must keep a few factors in mind.

Rate of interest on savings 

The savings bank account interest rate that you get is the primary factor that needs to be considered in this particular context. The thing with these accounts is that of all the available modes of investment in India you get the lowest rate of interest on savings from them. RBI (Reserve Bank of India) deregulated interest rates back in 2011 but even then most of the banks offer low rates on these accounts. This is in the range of 4%. You do get higher rates from some private banks in the region of 6% though.

Minimum cash balance needed 

However, in those accounts, you may have to maintain a high minimum balance. So, this is the second point that you need to keep in mind at the time of digital bank account opening. Usually, public sector banks have lower requirements in this context. They do not need you to maintain over 1000 rupees a month in most cases. However, in the case of the majority of the private banks, this amount could be anywhere between 5000 and 10,000 rupees a month. It is always better to take note of this before you open the account.

Apart from these, there are several other factors that you must keep in mind in this context. The bank must have a commendable presence of branches and ATMs (automated teller machines) across the country. Its service charges and ancillary fees must be manageable for you. It must offer you great debit card deals and it should be able to offer you doorstep banking too. You can be sure that if you open the account at a leading banking services provider such as Axis Bank you would tick most of the boxes – there is not much that you would have to complain about in these cases, if not none.        

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What benefits do I get from opening a zero balance account?

These days, a lot of people are switching over to zero balance accounts and with good reason, it must be stated as well. These accounts provide you with the most ideal way to grow your money and store it. The thing is that you can do this in a basic savings bank account that comes sans frills as well. However, there is one major issue over there. You have to maintain a minimum balance in such accounts. Just imagine a scenario where you could take out money from your account without having to bother about maintaining a minimum balance! 

You get attractive rates of interest on savings 

This is just as important a benefit when you open digital bank account with zero balance as the absence of any minimum balance requirement in the same. So, this is a major benefit, especially for people who are in the initial stages of their financial journeys. However, there is also one thing that you must keep in mind in these cases. The rates that you get on these accounts are not universal – they vary from one bank to another. So, always compare these rates before you sign on the dotted line.

You get attractive cash-back rewards and offers 

So, as you can see for yourself, a high interest rate on saving account is not the only benefit that you get from these accounts. When you open these accounts you get a debit card as well only for a nominal fee at that! If you get an account from a top bank such as Axis Bank you can be sure that you would get fantastic cash back and other such deals on the same. This could include deals with some of the biggest e-commerce service providers in the world as well.

So, if you are enthused by what you have read so far and feel compelled to open such a bank account for yourself, head over to a bank where such services are available. You would be amazed at how easy the entire process is. All you have to do is complete a few formalities such as filling out an application form, and choosing a mode of funding, and you are done! You can be sure that opening such an account would never get any easier than this. It is a great way to make your life better and you must grab it with both hands.    

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How does securing and saving money in different accounts with Axis Bank benefit?

Keeping money in a savings account with Axis Bank completely depends on various factors. Firstly, the city you live in. Secondly, the monthly expenses you incur and thirdly, the amount of money you earn and are sure to earn at least for the next six months. Moreover, along with this, you should remember to keep the minimum balance in your savings account to avoid penalty charges. Let us check the benefits of both to understand the difference.

How does keeping money in a savings bank account benefit overall?

Banks ensure their customer's money with insurance companies in case there is any difficulty. Hence, it is best to keep money in an account rather than keeping cash at home which can possibly be stolen.

Helps you to pay during times of emergency as savings account money is liquid cash. You can withdraw 24*7.

Keeps a track of the income and allows you to file taxes as per the rules and regulations of the government of India as every person can find systematic entries in their bank statement.

Helps to earn saving account interest rate. Interest up to Rs 10,000/- can be claimed as a deduction in one financial year while filing income tax returns.

Encourages savings and helps to keep a track of the monthly expenses. A bank statement helps to reflect on unnecessary spending throughout the year. One can also compare monthly expenses and create a cash flow statement for the coming months to cut down on the same.

Benefits of investing money in various corpus-building securities

Helps to earn interest over and above savings interest and thus beats inflation.

Interest earned through investments is usually more than the inflation rate. This helps more to build an appropriate corpus.

Creates a habit to build wealth over a period of time. This habit builds sufficient corpus to live retirement life easily.

Helps during times of emergency and also during retirement even if you do not have a pension credited to your account on monthly basis.

As we see, both have their benefits. Once you have kept the necessary amount considering the factors, you can invest all your money. Saving money and digital account opening should be taught in school times. This helps one understand the value of money and at the same time live life independently. Depending on whether parents or spouses only give the invitation to quarrels and dislike for a longer duration.

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Where To Keep the Money?

When you start to earn money, it is a question of where to keep it safe. The best way to make your money work and get some interest out of it is to open a savings account. These days digital savings accounts can be opened by sitting at home. The money you earn from your profession can be saved by keeping most of it in digital format. Traditionally, people used to have safe lockers at home to securely keep the cash. As thieves used to enter the house and take away cash, the government of India focused on going digital.

Normally, the savings account is considered an account which is handy in terms of emergencies to keep all of your liquid money. So, if you keep your money in your regular account, then it will be wise that you open a savings account first with a private bank. Most quality private banks like Axis Bank have the facility to apply for savings bank accounts online. These accounts can be opened in just a couple of clicks after the completion of a video KYC.

What type of savings account should you choose from?

There are many varieties of savings account options available today with private banks. These accounts are usually user-centric. Once you have read the components and options available as per your needs, you can associate with one type and choose to open the same.

If you need to understand more regarding the process and which account suits your lifestyle the best, it is wise to speak to someone who excels in the same. Banks will always help in such cases. They will understand your background and calculate the future potential need of your account. This way, they will curate the best suitable plan for your needs. Axis Bank executives help in such cases. Their team is professional and readily available to help people understand.

Why prefer a savings account over a regular account?

A savings account will fetch you an interest percentage on the amount kept with the bank. Savings account interest rate differs from account to account. You can check with the bank executive before you open the account.

How does one get interest credited to their savings account?

Banks credit interest to your account as per the daily balance you have maintained in your savings account. This interest will be credited usually half-yearly. You can claim it’s a deduction while you pay your income tax in the month of July.

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How Axis Bank Is Becoming the Finest Solution to All Your Banking Needs

Acceptance of deposits of various categories from the general public, temples, and government institutions and disbursement of the major portion of the same, remaining after meeting the statutory obligations of Cash Reserve Ratio and Statutory Liquidity Ratio are the major functions of any bank. 

Savings account:

Savings bank accounts are further sub-classified into different categories, each category featuring certain aspects relating to several free withdrawals, free funds transfers, average minimum balance, doorstep banking, free cheque books, offers and discounts, standing instructions, etc. For example, besides the normal savings account, Axis Bank has customized bank accounts, which are named Easy Access Digital, Prime Digital, Liberty Digital, Senior Citizens, Kids, Small and Basic, and Salary accounts. The savings account interest rate is comparatively lucrative in the banking industry, especially considering the various facilities.

Current Accounts:

Similarly, there are current accounts customized for various business needs such as Jewellers, Trusts, and Arthiyas, besides Current Account – Normal, Advantage, Select, Classic, Privilege, Channel One. Each category has different facilities and limitations relating to the number of withdrawals/ deposits at the parent branch or other branches, monthly average balance, etc.

Term Deposits:

In the term deposits segments, there are different deposit schemes with different tenors, interest rates, cumulative and fixed deposits with interest monthly/ quarterly/ half-yearly and annual payments, tax saver deposits, auto fixed deposits, sweep-in facilities, auto-renewals and recurring.

Loans:

Loans are categorized as Personal Loans, Home Loan, Jewel Loans, and Business Loans. Agricultural Loans, Mudra Loans, Vehicle Loans, loans against fixed deposit, Working Capital Loans without collateral securities/ guarantors and with securities and guarantee coverage by Credit Guarantee Funds Trust of India. They will be disbursed within the committed TAT (Turn Around Time). Personal loans by Axis Bank are disbursed quickly and can happen online too. Their website provides a personal loan and a home loan EMI calculator to understand money outflow every month.

There are also non-funded facilities like issuing guarantees and letters of credit. Their home loan interest rate is one of the lowest in the country today. They are offering other facilities like Safe Deposit Locker and Safe custody of articles. Besides ATM and Debit cards, they also financially assist their customers with Credit Cards (Atlas, Select, Privilege), Transit cards, etc., and many cards are entitled to rewards and offer schemes.

IT-related:

There are also mobile banking, net banking, SMS banking, remote banking, biometric net banking, and banking through apps

Services:

You may pay locker rent property taxes, income tax, GST, Insurance premium, and invest in SIP (Systematic Investment Plan), credit cards, overdue bills, and loans, eNACH/ eMandate

They are authorized dealers in foreign exchange.

If you approach any officer of the bank, they will be pleased to assist you to a great extent to enjoy all the facilities cited above.