Axis Bank Savings Account Interest Rate
About Axis Bank (UK) Ltd
Founded in 2013, Axis Bank UK Ltd. is a wholly owned subsidiary of AXIS BANK LTD. and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.
Axis Bank Savings Interest Rates (as on 04 Feb 2021), List of Banks for Savings Account 2021 Documents & Eligibility to Open Savings Account. Axis Bank Saving Account Interest Rates. Axis Bank customers can earn an attractive interest of up to 3.75% on their savings accounts and also enjoy a load of privileges and offers when they transact using their accounts. The interest rate is calculated on a daily basis and is paid to account holders after every quarter. However, with the changes in other banking products, savings account has also seen a major shift from being minimum balance account to zero balance savings account. Many banks now offer zero balance savings account with high-interest rate which is more in demand as compared to the age-old pattern of keeping a few thousands in bank account to. Axis Bank makes 50 bps revision in interest rates of savings bank account; Axis Bank offers 3.50% interest rate on savings account balance up to Rs 50 lakh; Axis Bank offers 4% interest rate on savings account balance above Rs 50 lakh; Axis Bank on Tuesday revised the interest rates on savings account with immediate effect.
Deposits made into savings accounts offered by Axis Bank UK Ltd. through the Raisin UK savings marketplace are covered by the Financial Services Compensation Scheme (FSCS).
Bank details
| Headquarters: | London UK |
| Year established: | 2013 |
Security and deposit guarantee
Deposits are eligible for protection by the Financial Services Compensation Scheme (FSCS) http://www.fscs.org.uk/. The FSCS is the United Kingdom’s statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit.
Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.
Who is Raisin?
At Raisin UK, we have one mission; to help you save time and make money. In Europe, Raisin has already helped over 150,000 consumers get competitive rates on their savings and now we're shaking up the UK savings market.
The Raisin UK savings marketplace is designed to provide savers with an easy way to apply, manage and fund savings products - all with attractive rates.
By registering for a Raisin UK Account, you'll only ever need to fill in one application form to enjoy simple one-click funding on a range of savings products from our partner banks.
How to open an account
A Savings Account is very beneficial with multiple advantages as detailed below:
(1) Earns Interest on your Savings
This is the first and foremost benefit of opening a savings account. It starts earning interest on your money as soon as it is deposited. The interest rate is decided solely by the bank and changes from time to time. Regular interest depends upon the balance of the savings account.
Interest rate in savings account ranges from 3.5% to 7%.
(2) Provides Security of Funds
There is no risk involved in your savings account. It is considered as one of the safest investment alternatives. It even offers you the opportunity to put your money into another investment whenever the time comes.
(3) No Lock-in Period
There is no lock-in period under savings account which means that you can withdraw your deposits anytime you need. There is no need to keep your money in this account for any specific period. You have full flexibility in withdrawal of amount from it.
(4) Offers Liquidity
You can withdraw the amount anytime 24X7 with the use of ATM card or debit card from your account during any emergency even when the bank is closed. In fact, being able to access your money when you need it, is one of the biggest benefit of having a savings account.
(5) Availability of Variety of Savings Account
Many banks offer comprehensive range of savings accounts from regular to premium suiting to your personal banking needs. There are different types of savings accounts offered by various banks that differ based on the interest rates and duration of time commitments. You can choose any of them which suits your financial objectives and requirements.
(6) Services of Customer Relation Manager
Now-a-days many of the banks engage a Customer Relation Manager (CRM) who will help not only solve your queries but also assist you in tax saving, investment, mutual fund schemes, insurance, bank procedures, etc. You need to just call your CRM and he/ she will assist you solve your problem.
(7) Online Banking Facilities
If you maintain a savings account, you can make many transactions online also such as payment of bills, fund transfers using RTGS/ NEFT or IMPS, etc. This will save your time and efforts.
(8) Provides ATM/ Debit Card
You will be offered a debit or ATM card with a nominal charge or without any charges, as offered by your bank. With the help of this card, you can withdraw the funds, make transactions in shops, make payments of bills, etc.
(9) Helps you Get Credit or Loan
The relation you maintain with the bank will help you in getting credits from the bank such as home loan, personal loan. You will also be in a position to negotiate with the banker on the interest rates.
Axis Bank Savings Account Interest Rate Monthly
(10) No Cap on Deposits
There is no limit on the amount deposited and number of times it is deposited.
Best Savings Account Interest Rates
(11) Facility to link Loan EMIs, Mutual Fund SIPs or RD deductions
You get a facility to link your monthly loan EMIs, Mutual Fund SIPs or RD deductions through the savings bank account.
(12) Free Mobile App
What Is The Interest Rate Of Axis Bank
Most of the banks provide their mobile app for free. Through this app, you can get to know your account balance, check your statement, make transactions, easy transfer of money, etc.