Savings Accounts - Terms & Conditions
Savings Accounts - Terms & Conditions
Savings Accounts - Terms & Conditions
As a Savings Account Holder, I am subject to the below Terms and Conditions (T&C).
Any changes to the T&C will be available on the website www.axisbank.com only.
Services: All services will be provided by Axis Bank on a best effort basis. The
complete list of services available to me will be available on www.axisbank.com.
Fees & Charges: Fees and Charges will be applicable on my account and for other
services availed by me, as described in the Most Important Document and on the
website www.axisbank.com. Service Taxes and other statutory imposts as applicable
from time to time will be levied on all fees.
Interest Payment:
W.e.f. 1st July'17, Interest earned on Savings bank account will be credited on
the last business day of each quarter of the financial year.
Change in Fees & Charges and Services: Any change/discontinuation of Fees &
Charges and Services will be intimated to me at least 30 days in advance through
letter/SMS/website/email or other means.
Account Conversion: If salary is not credited for a period of 3 months into my Salary
Account, the account will be automatically converted to a normal savings account
without any notice or intimation (with all applicable charges & fees) and full KYC will
apply, failing which there will be a credit freeze placed on the account.
Channel facilities: All channel facilities provided by Axis Bank including Debit Cards,
ATM Cards, ATMs, Internet Banking etc are subject to specific guidelines that are
provided in the website, through other communication such as MITC, COC etc. Axis
Bank is not liable for fraud in the event that I disclose sensitive information such as
passwords, PINs, or IDs to anybody. I also undertake to inform the bank immediately
in case of loss of cheque leaf(s),
Credit/Debit Card(s) linked to my account.
Personal Information:
a) Any updation of my details including personal information, becoming a non-
resident Indian, change of address etc will be provided by me to the bank,
along with the documents of proof, within 2 weeks. I agree to indemnify Axis
Bank for any fraud, loss or damage, due to my providing the wrong
information or not updating the information that may occur to me and to Axis
Bank and based on which the bank may act as true and correct.
b) All information provided by me of any nature (including personal & sensitive
information) will be used in the provision of services or facilities, facilitation of
transactions, providing information and updates (including value-added
services), research and analytics, credit scoring, verification, participating in
telecommunication or electronic clearing network as may be required by
law/customary practice by the bank.
c) All information provided by me of any nature (including personal & sensitive
information) can be shared with agencies/service providers who have an
agreement with Axis Bank for business purpose and on need to know basis.
Axis Bank shall always strive to comply with the rules and regulations as
applicable from time to time on this context in accordance with the bank’s
Privacy policy. If I intend to revoke my consent to the sharing of the data, the
products/services available to me, pursuant to the consent provided earlier,
shall no longer be available to me, and I shall be required to initiate closure of
such products/services.
The deposits of the bank are insured with DICGC and in case of liquidation of the
bank, DICGC is liable to pay each depositor through the liquidator, the amount of
his deposit upto Rupees One lakh within two months from the date of claim list from
the liquidator.