Type of Bank Accounts

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Survey of Various types of Bank Accounts, rate of interest offered

Mr. Pinto (name changed on request) of Axis Bank Limited of Nerul Branch was very co-operative when I visited their branch and introduced myself as a 10th Std. student of Ryan International School, Nerul and inform my purpose of visit of carrying out a survey on various types of bank accounts available and commonly used in India.

He offered me a place to sit and called for water and request to give him some time to complete his urgent in-hand work. Since the day was Saturday hence visibly the no. of public was less. After half an hour, he turned up, excuse for keep me waiting and then first go thru the paper containing Project Topics. After going thru the entire paper he
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The account has an average quarterly balance of Rs. 2500/- for branches in Urban / Metro / Semi Urban areas and average quarterly balance will be Rs. 1000/- for branches in Rural areas.
The Average Quarterly Balance shall be NIL if a Fixed Deposit of Rs 25,000/- or Recurring Deposit of Rs. 2000/- per month is maintained. The fixed deposit should be for a minimum period of 6 months and the recurring deposit should be for a minimum period of 12 months.
Free personalized cheque book.
For Children below the age of 12 years, the account is to be operated by the guardian on behalf of the minor. Free ATM Card with a daily withdrawal limit of Rs 1500/- will be issued in the name of the guardian.
Visa Classic Debit Card for children above the age of 12 years will be offered at Issuance Fee of Rs. 95/- and with annual fee of Rs. 100/-.
The child of age 12 years and above can also opt for an Image debit card with his / her own attractive picture or any other photo they choose.
Automated Facility for transferring funds to the child?s account from the parent?s account on a monthly basis.
Free Internet banking facility : The idea is to make the child internet savvy and expose them to the online banking environment.
Online forums with interactive tutorials and games about money.
Free SMS Banking.
Free monthly e-statements / Quarterly
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