Axis Bank To Cut Free Cash Transactions, Raise Cheque Return Fees From December

Axis Bank customers may have to rethink how they use their savings accounts as the bank prepares to change charges for cash transactions, cheque returns and minimum balance shortfalls from December 1, 2026. The revisions will impact cash transactions, cheque payments and the minimum balance customers need to maintain to avoid penalties.

The changes cover domestic and non-resident Indian (NRI) savings accounts, including Easy Access, Prime, Prestige, Priority and Burgundy. Some account holders will also lose the benefit of earning EDGE REWARD points under the existing programme.

Free Monthly Cash Transactions Limit To Fall

Customers holding domestic and NRI Easy Access and equivalent accounts, along with Krishi and Sahaj savings accounts, will get fewer free cash transactions every month.

The current allowance is four free transactions or cash transactions worth up to Rs 1 lakh, whichever limit is reached first. From December 1, the number of free transactions will drop to three. The Rs 1 lakh transaction limit will not change.

This means customers who make frequent cash deposits or withdrawals could pay more once they cross the revised transaction limit.

Higher Charges For Not Maintaining Minimum Balance

Customers who fall short of the required Average Monthly Balance (AMB) could face higher monthly penalties at semi-urban and rural branches.

Axis Bank will retain the penalty calculation at 6 per cent of the balance shortfall. However, the maximum monthly charge for domestic Easy Access and equivalent accounts at semi-urban branches will double from Rs 300 to Rs 600. At rural branches, it will rise from Rs 150 to Rs 600.

For NRI Easy Access and equivalent accounts, the maximum charge at semi-urban and rural branches will also go up from Rs 300 to Rs 600. The maximum penalty for metro and urban branches will stay at Rs 600. Salaried customers are exempt from these minimum balance charges.

Select Customers To Lose EDGE REWARD Points

From December 1, customers with Burgundy, Priority, Prestige, Prime NRI and Easy NRI accounts will no longer earn EDGE REWARD points through the existing programme. This may impact those customers who use their debit cards and other banking services to collect points and redeem them for benefits.

TRV Requirement Raised To 100 Per Cent

Axis Bank is also changing the Total Relationship Value (TRV) requirement for select domestic and NRI savings accounts.

The requirement will go up from 75 per cent to the full prescribed level of 100 per cent. The categories include Prime, Prestige, Priority, Sampann, Advantage, Arise Women's and Burgundy accounts. Customers may need to keep more money in deposits or investments linked to the bank to meet the revised requirement.

Cheque Return Fees To Increase

The fee for an outward cheque return will move to a flat Rs 200 per return. At present, customers pay Rs 50 for the first return and Rs 100 for each subsequent return. For NRI Burgundy, Priority, Prestige and Prime account holders, the charge for a deliverable return will jump from Rs 50 to Rs 500 per return.

Customers should check the updated schedule of charges for their account category before December 1. Those who frequently use cash services or issue cheques should review their transaction habits to avoid unexpected fees.

They should also check the minimum balance and TRV requirements applicable to their accounts.