ENA Sectors 2022-04-13 07:30:42 <p><strong>Mumbai, April 13 (KNN)</strong> Private sector lender Axis Bank has reduced free cash transaction limit from Rs 2 lakh to Rs 1.5 lakh and increased limit for easy savings and similar account minimum balance in metro, urban areas from Rs 10,000 to Rs 12,000.</p> <p>Earlier the free limit for the first monthly cash transaction was the first four transactions or Rs 2 lakh, whichever comes first.</p> <p>Now with the new rule, the free cash transaction limit will be for the first four transactions or Rs 1.5 lakh, whichever is earlier.</p> <p>The private lender made this changes on April 1, the first day of the new fiscal year.</p> <p>In order to avoid fine, Axis Bank customers that earlier required an average balance of Rs 10,000 will now have to maintain a minimum amount of Rs 12,000.</p> <p>The changes announced are applicable for both domestic and NRI customers, said the commercial bank.</p> <p>These changes will also be applicable to other schemes including Digital and Savings SBEZY Equivalent, Smart Privilege under Easy and Equivalent.</p> <p>Monthly Service Fee (MSF) will be charged from the customers for every difference of Rs 100 in the prescribed minimum amount plus Rs 5 plus Rs 75 or Rs 500 whichever is less. For urban customers the minimum fee is Rs 75.</p> <p>The bank has made no changes in the non-home and third party cash transaction limits. <em><strong>(KNN Bureau)</strong></em></p> 28896 https://knnindia.co.in/news/newsdetails/sectors/axis-bank-reduces-free-cash-transactions-limit-to-rs-15-lakh 2022-04-13 07:30:42 knnindia.co.in