Indian Banks usually don’t charge to open new accounts but they do charge a small amount while closing an account. Axis Bank is not so different than others when it comes to these account closing charges. Below is the list of charges for closing a basic current account in Axis Bank.
|If the account is active for less than a year||INR 250|
|If the account is active for over a year||INR 500|
Axis Bank charges Rs 500 to close a basic savings account.
This charge is only applied when the savings account is active between 14 days and 6 months after opening. If the basic savings account is closed before 14 days or after 6 months of opening it, then no charges will be applied.
When you close an Axis Bank account, an additional service tax will be applied. You can check the details of various charges and fees applied by Axis Bank on their different services by clicking here.