Axis Bank Future Stars Savings Account

Axis Bank Future Stars Savings Account is available for children below 18 years of age. This Savings Bank (SB) account is operable by the guardian for children below 10 years of age. The child can get his/her image printed on the card if they are over 10 years of age. The average monthly balance requirement is between Rs. 1,000 and Rs. 2,500 depending on the branch location. But there is no such limit if you maintain a Fixed Deposit for 6 months of Rs. 25,000. Or, if you maintain a Recurring Deposit of Rs. 2,000 for a year.

In this post, we will discuss Future Stars Axis Bank Savings Account features, eligibility criteria, interest rates, documents required, fees and charges, and FAQs.

Features of Axis Bank Future Stars Savings Account

Here are the features:

• You will receive one free chequebook per year payable at par. This will be in the guardian’s or child’s name. If the kid is below 10 years of age, then the chequebook is in the name of the guardian.
• Get free internet banking services and SMS alerts. Benefit with the bank at your convenience.
• You will receive a Visa Platinum Debit Card. The issuance charge of this is low – Rs. 100. The annual fee for urban and metro locations is Rs. 150.
• The first 5 transactions are available for free at ATMs of Axis Bank. For non-Axis Bank ATMs, the first 5 and 3 transactions are free for non-metro and metro locations, respectively.
• The ATM Card is issued for free for children below 10 years of age. The daily withdrawal limit is Rs. 1,500.
• For kids over 10 years of age, the image of their choice is printed on the Debit Card.
• You will also get a Personal Accident Insurance cover of up to Rs. 2 lakhs if you swipe the Debit Card at least once every 6 months.
• To protect the card from fraud and cover for loss or damage of articles you buy you will receive Combined Lost Card Liability and Purchase Protection Liability of the value of up to Rs. 50,000.

Eligibility Criteria for Axis Bank Future Stars Savings Account

Here are the eligibility norms for this Axis Bank Savings Account:

• This SB account inculcates the habit of saving from an early age.
• Children below 18 years of age can access this facility.
• The account is operable by the guardian of kids below age 10.
• You have to submit the required documents with the account opening form.

Axis Bank Future Stars Savings Account Interest Rates

Axis Bank Savings Account interest rate is between 3.00% and 3.50%. The Floor Price for all slabs linked to Repo Rate is 3.50% per annum. The calculation of interest is based on incremental account balance slabs. If the SB account balance is over Rs. 2,500 crores then contact the branch office for preferential interest rates.

Documents for Axis Bank Future Stars Savings Account

Here are the required documents to open the Axis Bank Savings Account:

• If the child is below 18 years of age, then certain documents are required to open the savings account.
• The papers for children from a Hindu Undivided Family are proof of date of birth, identity, and address, along with two latest passport size photographs.
• Accepted identity and address proofs are Passport, Driving Licence, Aadhaar Card or proof of its possession, Voter’s ID Card, Letter issued by the National Population Registry with details of name and address, Job Card by NREGA duly signed by a State Government Officer.

Fees and Charges of Axis Bank Future Stars Savings Account

Here are the charges for the Future Stars Axis Bank Savings Account: