ASAP is the zero balance saving account offered by Axis Bank. The zero balance account allows account holders to deposit and withdraw money without having to worry about the average monthly balance which is required to be maintained by Savings Bank a/c holders in Axis Bank. The Axis Bank ASAP Account can be opened through an Axis ASAP account by downloading the Axis Mobile App or by visiting their website & registering your Aadhaar, PAN & other basic details.
The Axis Bank ASAP zero balance bank account provides the following key benefits:
The Auto Fixed Deposit (FD) feature provides all account holders to gain higher interests on balances above Rs. 1000
On the zero balance account opening, all account holders are able to transfer funds for free using NEFT or IMPS.
Online Rewards debit card
The Online Rewards Debit Card has the following benefits:
Additionally, it provides the following offers to account holders of the zero balance account, Axis Bank ASAP:
In order to promote financial planning, AXIS Bank has created the ASAP Goals. These have been created in order to help the account holders to better plan their savings.
The Bank allows account holders to set goals. The goal amount must always have to be more than the flexi fixed deposit amount. The goal amount must be in multiples of Rs 500.
Monthly contribution= (Goal Amount- Flexi fixed deposit)/no of months left to achieve goal. Interest calculation will be over and above.
Goal amount always has to be more than the flexi fixed deposit amount
For balances up to Rs. 10000, you will earn the prevailing Savings Account interest rate. For balances above Rs. 10,500, a Flexi Fixed Deposit (FFD) will get automatically created in multiples of Rs. 500 and the rate applicable would be of the prevailing 1 year Fixed Deposit Rate.
In a normal fixed deposit, individuals generally deposit a certain sum of money for a particular period of time, with this amount earning fixed interest. Flexi Fixed Deposits overcome this problem by allowing account holders of the zero balance account to withdraw / access money any time anywhere.
Illustration: If the balance in your account is Rs. 10,500 and Rs. 1,000 will be automatically transferred to a flexi deposit for 1 year where you earn the prevailing 1 year FD rate.
This Physical Debit Card will be given to the account holders in addition to the Online Rewards Debit Card given on Axis Bank 0 balance account opening.
For the Physical debit Card, the Bank will charge the following charges:
Customers funding above Rs 5,000 at the time of account opening will receive a complimentary physical debit card.
A Physical debit card fee of Rs 300 + taxes will be levied at a later date. Once the debit card fee has been recovered from your ASAP Account, you will receive a refund of the fees within 60 days.
Therefore, in order to provide a seamless banking experience for the account holders who want to open a 0 balance account online, Axis Bank has given the account holders the following four subsequent key benefits
Axis Bank has extended its venture towards offering the ease of opening & maintaining a zero balance savings account in the form of Axis ASAP. This service lets you enjoy seamless banking experience as it allows the account holders to maintain a zero balance in the respective savings account without any additional charge upon them. Some of its high-end features include:
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