In case of Axis bank they will charge up to 350 Rs if we don’t maintain a minimum balance of 10,000 Rs, and even without any intimation some times they will deduct the amount or convert the balance to negative.
This problem arises mainly for salary accounts. In Axis salary accounts we don’t need to maintain a minimum balance, but when we leave the job then they will convert the Zero balance accounts to the normal savings account and levy the minimum balance charges.
Ad per RBI notification RBI/2014-15/308 DBR.Dir.BC.No.47/13.03.00/2014-15 balance in the savings account does not turn into negative balance solely on account of levy of charges for non-maintenance of minimum balance.
That means banks should not convert the main balance into negative balance when the minimum balance is not maintained, instead of that they can convert the savings account to basic account and limit the services.
Closing Axis Bank Account with Negative Balance
- If your axis bank account shows a negative balance then try to negotiate with the branch manager to waive off the negative balance. If the branch manager doesn’t agree, then show them the above RBI guidelines about minimum balance rules.
- Still, some branch managers don’t agree, in that case, you can complain about that bank in banking ombudsmen. This is the final solution to close your Axis bank account online.
(If you don’t want to do all these things, then you can leave that account and open a new account in any other branch)
Can we close axis bank account without going to the bank
No, it is not possible to close the Axis bank account online, you have to visit your Axis bank’s branch to request closure of your bank account.
Does Axis bank charges for closing account
No, they don’t charge, but they will ask you to clear the negative balance in your account.
What happens if I leave my account with negative balance
Nothing will happen, your Axis bank account will become dormant after few years, and it will be closed automatically by the bank.
Can I open new Axis bank account in another branch, without closing the previous account
No, it is not possible, because your Aadhar and PAN is already linked to your old Axis bank account, so they will not allow you to create new account in another Axis branch.