Axis Bank Infinity Savings Account removes all hidden charges but comes at a price. Fee details here

financialexpress.com:

Axis Bank Infinity Savings Account Fees and Details: Axis Bank has launched a first-of-its-kind new savings account – ‘Infinity Savings Account’ – with an aim to cater to digitally savvy customers, who are frequent adopters of subscription-based models.

In a statement, Axis Bank said this innovative savings account offers customers with exclusive privileges, such as waived Average Monthly Balance (AMB) requirement, complimentary debit cards and waiver of all domestic charges. However, to avail these benefits, there is a catch. The bank will charge a fixed monthly or annual fee.

The monthly fee for ‘Infinity Savings Account’ is Rs 150 and the annual fee is Rs 1650, as per the statement.

Axis Bank further said that the new savings account variant has been introduced with the aim of revolutionizing the banking experience.

Customers can open Infinity Savings Account in a completely digital manner through Video KYC process. The bank offers two subscription-based flexible plans – Monthly and Annual. The monthly plan is charged at Rs 150 (inclusive of GST) and has a minimum subscription period of 6 months. After the initial 6 months, the plan continues on a 30-day cycle, with Rs 150 deducted every 30 days.

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The annual plan is charged at Rs 1650 (inclusive of GST) and offers Infinity benefits for 360 days. The plan is automatically renewed after this period.

This savings account may benefit customers seeking a worry-free banking experience by eliminating all domestic charges, ensuring transparent banking at its finest.

The bank said this savings produc redefines transparency in banking by providing customers with unlimited access to any ATM across the