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!

 

[Trust Me]

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.

You already have a zero AMB account with the SBI. Do you have chequebook also? If so, why not just shift the SIP to that ASAP, and close the Axis account? SBI's netbanking is amongst the best. So you can avoid branch visits for the most part.

You can then explore the private banks and their supposed better services and benefits at your leisure.
.

 

[Abdullāh Khān]

Mat karwao bhai, account balance say zyaada kay to mujhe reward points milte hayn

 

[Wealth is my birth right!]

OP or anyone which account variant in Axis Bank is having lower mab and without any additional charges for dc and sms ?

 

[Anshit]

OP or anyone which account variant in Axis Bank is having lower mab and without any additional charges for dc and sms ?

That Would be Axis Basic Savings account:
-Zero Balance Account

- Free Rupay DC

-Should not have an existing Axis Bank account, if you another variant savings account then need to close it and then can apply for the Basic variant

- Once a Basic Account is opened with Axis then you cannot open another Variant account with them

-Axis also converts account to Basic If MAB is not maintained for certain period of time

 

[Wealth is my birth right!]

That Would be Axis Basic Savings account:
-Zero Balance Account

- Free Rupay DC

-Should not have an existing Axis Bank account, if you another variant savings account then need to close it and then can apply for the Basic variant

- Once a Basic Account is opened with Axis then you cannot open another Variant account with them

-Axis also converts account to Basic If MAB is not maintained for certain period of time

Thanks for the info