Axis Bank is one of the renowned private sector banks in India that allows individuals to open bank accounts under various categories. Axis Bank student account can be used for various purposes such as depositing scholarship money, usual savings etc and there is no minimum balance requirement. The students will also earn daily and quarterly interest on the deposited account. Read on to understand all the details of this bank’s student account and its features.
Table of contents
Overview of Axis Bank Student Account
Axis Bank allows students to open a zero balance account under the Axis Bank Government Scholarship savings account scheme. One of the major benefits of the Axis Bank student account is that it is a zero-balance savings account without any minimum balance requirement. Check some of the major features of the account below:
- The bank provides the students with services like Internet banking, e-statement, transaction alerts, passbooks, etc.
- All the students will enjoy a free cash deposit and a free Rupay debit card to withdraw cash from the ATM
- The Axis Bank Rupay card can be used for withdrawals up to INR 40,000 per day and up to INR 1 lakh per day can be spent at shopping destinations
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Axis Bank Student Account Eligibility Criteria
Axis Bank Government Scholarship account can be opened by students who are Indian citizens. Also, the student must have received or be supposed to receive a scholarship from the government or the university. Check more details below:
- There shall not be any existing account in Axis Bank with any of its branches
- If any such account exists under any category, it shall be closed before opening another savings account
- Once the Axis Bank Government Savings Account is opened, the student cannot apply for other savings accounts with Axis Bank under any category
Documents Required
There are certain documents that are required to be submitted to the bank in order to open an Axis Bank student account. Please be informed that all the documents shall be authentic and self-attested or attested by any gazetted officer of the central and state government. Check the complete list of documents required for the Axis Bank student account:
- Aadhaar Card
- PAN Card
- Two latest passport-size photographs
- If the mailing address and permanent address are different, then you need to submit separate address proof for both
- Letter of scholarship or any other grants issued by the university or the government
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How to Apply for an Axis Bank Student Account
Applying for an Axis Bank student account is very easy. You can apply for the Axis Bank Government Scholarship account online on the official website of Axis Bank or by visiting the nearest Axis Bank branch in your city. Check the steps to open Axis student bank account below:
- Visit the nearest branch and get an account opening form
- Fill out the application form properly and enter all the details as stated in the application form
- Attach the relevant documents along with the form and paste the passport-size photograph
- Sign the form and submit the same to the bank
- The bank will verify all the documents and the details mentioned in the form
- After successful verification, the account will be opened
FAQs
No, only Indian citizens who have received or are eligible to receive a scholarship from the government or university can open an Axis Bank student account under the Axis Bank Government Scholarship account scheme.
No, there is no minimum balance requirement for the Axis Bank student account. It is a zero-balance savings account.
With the Axis Bank Rupay debit card, students can withdraw up to INR 40,000 per day from ATMs and spend up to INR 1 lakh per day at shopping destinations.
No, once the Axis Bank Government Scholarship account is opened, the student cannot apply for other savings accounts with Axis Bank under any category.
You can apply for an Axis Bank student account either online on the official website of Axis Bank or by visiting the nearest Axis Bank branch. Simply fill out the application form, attach the required documents, submit them to the bank, and upon successful verification, your account will be opened.
This was all the major details on the Axis Bank student account. The bank offers the account opening service under the Axis Bank Government scholarship scheme. Check the entire schedule of charges before applying for the savings account.
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