Should I Close My Axis Bank Account Due to MAB Issues?

[Alexriser]

Hi everyone,

TF Advisors help me

I'm facing a dilemma regarding my Axis Bank account. I haven't been able to maintain the minimum average balance (MAB) for the past two months. As a result, I'm being charged fees. I'm not sure if I should:

1. Close the account and switch to a bank with lower or no MAB requirements.
2. Apply for a zero-balance account with Axis Bank if they offer one.

I'm on a tight budget and can't afford the MAB fees. What are your suggestions? Have you faced similar situations?Please share your experiences and advice.

I need to decide before end of month Please help me with any possible suggestions ASAP!!

Thank you!

 

[asahi]

Pnb pmjdy can be opened online or by branch visit??

Also, what r debit card charges??

Offline charges ₹150+ Gst

 

[varun__goel_]

Please help some TF seniors give me some advice or guidance and roadmap for starting my credit journey @SSV @Vasuki @Wealth is my birth right! @Abhishek012 @VISHESH_BANSAL

Are you a student?

 

[varun__goel_]

Don’t know yaar I m scared this month is going to end now , my current balance is -300 if I don’t change bank would it become ₹-900 or remain -300

As per RBI guidelines, bank cannot make account balance -ve for non maintenance. Just go and close account. If they ask to pay, quote the rbi guidelines and your work will be done in minutes.

 

[6ix9ine]

Are you a student?

 

[Alexriser]

They will not ask you to deposit the negative amount. There is less than 1% chance they'll ask you to give that negative amount. Even if they ask, just say politely to waive off the charges, they'll instantly do it in few clicks. You'll get SMS confirmation later that account has been closed. So, no worries. Go to branch and sort it out.

Bro thanks for your help
But I have one problem that I came to know now that I can’t close this account until I create a new account with cheque book delivered then to change my SIP portfolio details to that new account then Close this AXIS account !!
So First thing I need to do is finalise the which BANK to go for and start a account, then make a fixed deposit to be eligible for pre approved card, maintenance of the MAB for new account. start a fresh credit journey as I don’t have any single credit record.

Here I need the help of expert and veteran advisors @SSV @Vasuki @Wealth is my birth right! @Abhishek012 @4uziaul @VISHESH_BANSAL what path should I follow and which bank account to go forward with for FD and Credit journey kickstart, as of today.

 

[varun__goel_]

View attachment 66748

Arre hai to usko ek acha acc ka suggestion deta

 

[Alexriser]

Are you a student?

Yes I am student of 2nd yr college

 

[varun__goel_]

Yes I am student of 2nd yr college

Future Savings Account - Zero Balance Account Online | IDFC FIRST Bank

Open Future FIRST Account with IDFC FIRST Bank & get up to 7.25% interest per annum on your zero balance savings account. No charges on IMPS, RTGS and NEFT Transaction.

www.idfcfirstbank.com

Check here if your institute/college is listed or not.

And if it is visit any nearest IDFC branch and open account.
0 balance , 0 charges account.

 

[Alexriser]

Future Savings Account - Zero Balance Account Online | IDFC FIRST Bank

Open Future FIRST Account with IDFC FIRST Bank & get up to 7.25% interest per annum on your zero balance savings account. No charges on IMPS, RTGS and NEFT Transaction.

www.idfcfirstbank.com

Check here if your institute/college is listed or not.

And if it is visit any nearest IDFC branch and open account.
0 balance , 0 charges account.

Bro it’s not listed any other option which bank account to opt for should I go with HDFC digisave

 

[telescope]

Bro it’s not listed any other option which bank account to opt for should I go with HDFC digisave

Hdfc digi save is good. Baroda bro account (zero balance account) also good for your purpose.

For secured credit card, idfc wow credit card is good. You can open this online. It is lifetime free and good for building credit history. You can create this cc online.

Mark as solution by clicking on the tick button beside this post if you like this answer. Thank you.

 

[varun__goel_]

Bro it’s not listed any other option which bank account to opt for should I go with HDFC digisave

AU SFB Digital savings account. 0 MAB. 200+gst DC charges which are easily recoverable.

You can get decent interest rates there on FD as well.

 

[Alexriser]

Hdfc digi save is good. Baroda bro account (zero balance account) also good for your purpose.

For secured credit card, idfc wow credit card is good. You can open this online. It is lifetime free and good for building credit history. You can create this cc online.

Mark as solution by clicking on the tick button beside this post if you like this answer. Thank you.

I already have account in SBI with zero balance as 1 PSU bank and need a private bank for primary account for better banking services and benefits. So should I go with HDFC digisave or any other account with a offline CHEQUE BOOK delivered is necessity.

 

[telescope]

I already have account in SBI with zero balance as 1 PSU bank and need a private bank for primary account for better banking services and benefits. So should I go with HDFC digisave or any other account with a offline CHEQUE BOOK delivered is necessity.

HDFC would be a better choice among pvt banks. Other pvt banks are there with 0 balance facility, but HDFC is way better if you can maintain 5k . Go with digisave account.

 

[Zacobite]

Hi everyone,

TF Advisors help me

I'm facing a dilemma regarding my Axis Bank account. I haven't been able to maintain the minimum average balance (MAB) for the past two months. As a result, I'm being charged fees. I'm not sure if I should:

1. Close the account and switch to a bank with lower or no MAB requirements.
2. Apply for a zero-balance account with Axis Bank if they offer one.

I'm on a tight budget and can't afford the MAB fees. What are your suggestions? Have you faced similar situations?Please share your experiences and advice.

I need to decide before end of month Please help me with any possible suggestions ASAP!!

Thank you!

close it.. open a psu bank account to use till you can manage an MAB acct..

 

[KLB@96]

AU SFB Digital savings account. 0 MAB. 200+gst DC charges which are easily recoverable.

You can get decent interest rates there on FD as well.

can I convert 5k savings account to digital zero balance account ?

 

[Chhota Bheem]

can I convert 5k savings account to digital zero balance account ?

That's not possible

 

[KLB@96]

That's not possible

So close account and open digital account ?

 

[Chhota Bheem]

So close account and open digital account ?

Not sure, even I closed 5k MAB account. On Digital savings they're providing Rupay platinum but with regular account VISA gold (useless plastic card)

There are no additional benefits for regular account, so reactivated my Kotak 811 account.

 

[KLB@96]

Not sure, even I closed 5k MAB account. On Digital savings they're providing Rupay platinum but with regular account VISA gold (useless plastic card)

There are no additional benefits for regular account, so reactivated my Kotak 811 account.

Yea , initially they gave zomato offers and all , now I do not see any use of this account.

 

[varun__goel_]

So close account and open digital account ?

Not possible .