Axis Bank Limited · statement narration
ACCT CLOSURE CHG
A fee for closing your account within a defined period after opening it.
In plain English
A fee for closing your account within a defined period after opening it.
Also printed as CLOSURE CHARGES, AC CLOSE CHG, ACCOUNT CLOSING CHARGES, PREMATURE CLOSURE CHG.
Hinglish mein
Account khulne ke kuch samay ke andar band karne par lagne wala charge.
What it costs, including GST
Savings & Salary Accounts — Service Charge Portfolio · Branch
Time since account opening
| Rate | Bank’s figure | With 18% GST |
|---|---|---|
| Closed within 14 days of account opening | ₹0 | — |
| Closed between 14 days and 1 year of account opening | ₹500 | ₹590 |
| Closed post 1 year of account opening | ₹0 | — |
The bank's figure is before tax, so 18% GST is added on top.
Applies when: Axis savings-account closure timing rule surfaced in the current fees master and independently corroborated by current Digital Savings terms. Product-specific schedules should still be selected where Axis publishes an override.
Why it happened
The account was closed inside the chargeable window after the first transaction.
How to avoid it
Close within the initial free window (commonly 14 days), or wait until the account is over a year old. No charge applies where the account is closed due to the holder's death.