Recently we have come across a common confusion among the customers of Axis Bank regarding types of charges deducted from their account. Most of the customers with Savings bank account had this question in their mind as what are these consolidated charges appearing in their Axis bank’s account statement? So here we are again to help you to get rid of this confusion.
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What are Axis Bank Consolidated charges?
To know what kind of charges are included in consolidated charges by Axis Bank, we will first understand consolidated charges.
The bank’s website describes consolidated charges as
Various applicable charges are levied by the Bank depending on the type of Savings Account you hold with the Bank or on account of any additional service /product you have opted from the Bank. These charges are consolidated and levied at the end of the month to your Savings Account under the header ‘Consolidated Charges’.Ref
In simple terms consolidated charges are primarily charges for non maintenance of average balance in accounts. Charges on crossing limit of withdrawals during particular month, cash deposit charges, ATM transaction fees etc.
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Some other banks also charge such consolidated charges under name of miscellaneous charges.
Types of Charges & The amount of fees
|Type of Consolidated Charge||Consolidated Fees Charged (Exclusive of taxes)|
• Debit Card Annual /Issuance fee
• Debit Card Replacement fee
|Non-Maintenance of minimum balance|
|1. Min Rs 150 to Max Rs. 600|
2. Min Rs 150 to Max Rs. 600
3. Min Rs 150 to Max Rs. 300
4. Min Rs. 150
|Charges beyond free transaction limits|
|Cheque book||Min Rs. 150|
|ATM withdrawal||Rs.20 per transaction|
|Value Added Services – SMS Alert||Rs. 5 per month|
|Transaction failure charges|
|Auto Debit Failure||Rs. 500/- per instance|
|Cheque Return /bounce, |
Standing Instruction bounce
|Rs 50 to Rs 500 as per the reason|
|Cash Transaction||Min Rs 150|
|DD Issue Charges/Revalidation||Rs 100|
|Stop Cheque||Rs.100 per cheque, with a maximum of Rs.200|
|Duplicate Passbook/Statement Fees||Rs.100|
|I-connect /Net Secure device charges||Rs.800|
|Annual charges towards DEMAT account||If Demat account is |
linked with your savings account- Rs.750,
not linked with your account- Rs.2500
|Annual locker charges||Rs 1000 for registration|
|Locker visit charges beyond 3 free visit per month||Rs. 100 / visit|
Note that the charges in table are exclusive of any kind of taxes. That means these charges will add up to certain extent as per applicable GST.