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Axis Bank Slashes Free Transactions, Hikes Fees
29 Oct
Summary
- Free cash transactions reduced from four to three per month.
- Minimum balance penalties increase significantly for rural/semi-urban accounts.
- EDGE REWARD program and outward cheque return charges will be discontinued/increased.
Effective December 1, 2026, Axis Bank will introduce a revised fee structure impacting numerous domestic and NRI savings accounts. The bank is reducing the free cash transaction limit for select accounts from four to three transactions or Rs 1 lakh monthly.
Furthermore, minimum balance penalties will see a notable increase. While the calculation remains 6% of the shortfall, the maximum charges for semi-urban and rural accounts will rise to Rs 600, aligning with metro and urban charges. NRI accounts will also see their maximum semi-urban and rural charges double to Rs 600.
Customers of Burgundy, PRIORITY, PRESTIGE, PRIME NRI, and EASY NRI accounts will no longer benefit from the EDGE REWARD program. Higher Total Relationship Value (TRV) requirements will also be implemented for several premium domestic and NRI accounts.
Other changes include a significant rise in outward cheque return charges to Rs 200 per return for most accounts. Select NRI accounts will experience a tenfold increase in deliverable return charges, rising from Rs 50 to Rs 500.
