Axis launches no-charge account for Rs 150

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Many times customers don’t open savings accounts in banks to avoid paying service and minimum balance charges. To get over this issue, Axis Bank has launched a new savings account keeping such customers in mind. Axis Bank has introduced a savings account named Infinity Saving Account for its digital-savvy consumers. In Infinity Savings Account, the bank has waived average monthly balance (AMB) requirement, zero domestic charges and complimentary debit cards for Infinity Savings Account holders.

Customers will not be charged for service charge or for not maintaining minimum balance in this savings account. Along with this, customers will not have to pay 47 types of charges in this account. Two subscription based monthly and annual plans have been offered by the bank. Axis Bank’s Infinity Savings Account customers will have to pay a recurring monthly fee of Rs 150 or an annual fee of Rs 1,650. In lieu of this fee, customers will not have to pay any additional charges for 47 types of services.

According to the information given on the bank’s website, a fee of Rs 150 (including GST) will be charged from the customers for the monthly plan and the minimum subscription period will be 6 months. After 6 months, customers can run this plan for a period of 30 days. Customers will have to pay a monthly fee of Rs 150 after 30 days. The annual plan charges Rs 1,650 (including GST) and is for 360 days. This plan will automatically renew after 360 days.