1 / 15Axis Bank has hiked various service charges for its savings bank account holders with effect from 1 May 2021.2 / 15The private sector lender has increased cash withdrawal charges from ATM beyond the free limit. It has increased the minimum balance requirements for various types of savings accounts.3 / 15Axis Bank allows four free transactions or cash withdrawals of up to ₹2 lakh in a month, whichever is earlier. Once the limit is breached, the bank charges ₹5 per ₹1,000 withdrawn, subject to a minimum of ₹150 per transaction.4 / 15From May 1, the charges would double. For every ₹1,000 withdrawn, you will now pay ₹10 or ₹150, whichever is higher, for cash withdrawals from the savings account.5 / 15The average balance requirement threshold for Easy Savings schemes at metro locations is revised from ₹10,000 to ₹15,000.6 / 15For the Prime and Liberty savings accounts in semi-urban/rural areas, the average monthly balance threshold is ₹25,000, up from ₹15,000 earlier.7 / 15Any failure in maintaining these limits would attract a penalty of ₹10 per ₹100 of the shortfall. However, the bank has reduced the minimum charges under this head to ₹50, down from ₹150 before. 8 / 15Salary accounts that are more than 6-months-old and do not receive any credit (by any credit mode via cash, transfer, clearing, digital, etc.) in a calendar month will be levied a fee of ₹100 per month.9 / 15One-time Fee on no transactions for 18-24 months in Savings account. Accounts in which there have been no transactions for a continuous period of 17 months will attract a one-time fee of ₹100 in the 18th month.10 / 15For services like Update PAN/Form 60 details, Update Date of Birth, address change, Update email ID, Transfer accountant others, a fee of ₹100 per instance would be levied for placing the request through Branches.11 / 15Due to a recent change by the telecom regulator, Axis Bank has also recalibrated its SMS charges.12 / 15Instead of charging a flat fee of ₹5 every month, it will now charge 25 paise for every SMS alert, subject to a maximum of ₹25 per month, effective July 113 / 15The revised charges of Axis Bank are now higher compared to what HDFC Bank and Kotak Mahindra Bank levy.14 / 15The maximum charge for non-maintenance of minimum balance is Rs 600 at HDFC Bank and Kotak Mahindra Bank (for pro and ace) savings accounts.15 / 15The average monthly balance required at HDFC Bank and Kotak Mahindra Bank (for edge and classic) savings accounts is Rs 10,000.