Axis bank has sent an email to its clients informing the change in the schedule of the charges. However they have written complicated codes for the accounts which an average retail user will not be aware and thus it may not serve the purpose. This is a good initiative by the bank and they must give full forms of the abbreviated account types.
We periodically review our charges and fee structures so as to stay in line with market practices and related changes. As part of the review, the Average Quarterly Balance (AQB) requirements of various accounts have been revised with effect from next quarter cycle i.e. 15th June – 14th September, 2012.The revised AQB requirements are as below:-
#The AQB charge waiver on the mentioned product codes basis the fixed deposit relationship value will be discontinued from next quarter cycle i.e. 15th June – 14th September, 2012 onwards. *The requirement is on the Half Yearly Average Balance.
There is no change in AQB balance requirement for the products not mentioned in the above table. Your product/scheme code is given on the front page of the account statement. For any clarification please contact your branch. Non-maintenance of AQB balances attracts charges as per extant guidelines.
Also, we have revised our Cash Transaction Limits and Charges for Anywhere Banking services, which allow you to deposit or withdraw cash at any Axis Bank branch pan India. These charges will be calculated on a monthly basis and will come into effect from 15th May 2012 to 14th June 2012 (monthly charge cycle).
*In addition to the above-mentioned charges, service tax/other applicable taxes shall be charged and payable by the customer as per government rules and regulations. Charges shall not be applicable on Cash transactions at Axis Bank ATMs.
Following products are excluded from the above changes - Wealth (All schemes), Privee (All schemes), Retail Trust, Government Trust (All schemes) and the following schemes are excluded from cash charges:
SBNRE, NREPM, NREPI, NROPI, NREZR, NRISL, SBMIA, PBNRE, SBSDF, SBSTF.
For any clarification, please visit your nearest Axis Bank branch or log on to www.axisbankcom or call us at 1-800-233-5577 /1-800-209-5577 /1-800-103-5577.
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