Banking activities you can carry out through the Axis Bank Internet Banking Portal
Axis Bank has been providing financial services for nearly a decade now. It is one of India’s most popular private-sector banks, with a vast network of branches nationwide. It provides savings and current accounts, loan facilities, investment facilities, fixed deposits, recurring deposits, credit cards, and debit card facilities. You can do many banking activities through their digital portals at your convenience. You don’t have to visit the bank for every single task. Let’s see what we can do with Axis Bank’s Internet banking service.
Fund transfer through Axis Bank Internet Banking
Fund transfer has become an essential part of our daily life these days. In big cities and towns, people are going for a cashless society where you no longer use cash to buy things or pay for some services. Almost every payment is done through online platforms. Let’s see three of the most common types of fund transfers that can be carried out through Internet banking.
NEFT
NEFT means national electronic fund transfer. It enables individuals to electronically transfer funds from one bank to another within the country. NEFT operates on a deferred net settlement basis, where transactions are processed in batches and settled at set intervals. This transaction used to be processed hourly, but Axis Bank has no specific NEFT transfer time. You can initiate the transaction anytime. However, if you still want to go offline, NEFT transfer time at Axis Bank is 9:00 am to 3:30 pm on weekdays and 9:30 am to 3:30 pm on the 1st, 3rd, and 5th Saturdays.
NEFT doesn’t have a minimum or maximum transaction limit. However, individual banks may limit the amount transferred in a single transaction. The bank may charge some transaction fees depending on the funds transferred.
RTGS
RTGS fund transfers are real-time, as the term says, “Real Time Gross Settlement.” The amount you transfer will instantly be credited to the recipient’s account. RTGS is typically used for high-value transactions. While there is no upper limit, individual banks may set a minimum transaction limit for RTGS transactions. RTGS operates from 9:00 am to 3:30 on weekdays and 9:30 am to 3:30 pm on the 1st, 3rd, and 5th Saturdays. RTGS transactions are not available on bank holidays.
Some transaction charges may depend on the amount of funds being transferred.
IMPS
This is also a very convenient fund transfer system. In this type of fund transfer, the amount is also credited to the recipient’s account immediately after the transaction. It can be done 24/7 if you begin it online using the Internet or mobile banking. There are some charges imposed depending on the amount of funds. Sometimes, you can make a transaction free of charge if the amount is small. The transaction limit varies depending on the type of account or the banking platform you use.
Steps for fund transfer
If you are already registered for Internet banking, visit the official website of Axis banBank and log into your account using your login credentials.
- On the homepage, you will see some options like “My profile,” “Account Summary,” “Fund transfer,” “Cards,” and “Loans.” Select the “Fund Transfer” option.
- Again, you will see some options of fund transfer type. Select whichever you want, whether NEFT, RTGS, or IMPS.
- Select a beneficiary from your beneficiary list. Beneficiaries are added to the transfer at least 30 minutes ahead.
- Enter the amount you want to transfer; do not add any space while writing the amount.
- Click confirm, and you will get an OTP sent to our registered mobile number. Enter that OTP and click confirm. Then, your money will be transferred to the beneficiary’s account.
Fixed deposits and Recurring deposits
You can open a fixed or recurring deposit anytime through Axis Bank Internet banking. Fixed deposits and recurring deposits are two investment instruments provided by the bank. In a fixed deposit, you invest a certain amount of money for a certain period. At the end of the tenure, you will get your money with the interest earned. In a recurring deposit, you invest a fixed monthly amount for a selected period. The interest rate is variable. At the end of the tenure, you can withdraw the capital and the interest you have earned. Premature withdrawal is also available with some penalty or interest adjustment.
You can use interest calculators to calculate the money you will receive. It’s all available on the Internet. Even other public sector banks like SBI have their rates and calculators. If you have an SBI account and are wondering what the total amount you will get from a fixed deposit is, you can calculate it through the SBI FD interest rate calculator. So, you can plan how much you want to invest and how much you will get in return.
Loan application
You can also apply for a loan through the Internet banking portal. First, you need to know which type of loan you want to apply for and check the eligibility. There will be some criteria to be fulfilled to avail of a loan.
Bill payments
You can pay your bills through Axis Bank’s Internet banking portal. After logging into your Internet banking portal, add billers and verify details like account number and billing information. Choose the payment method, enter the amount, and initiate the payment. When the transaction is completed, you will get a confirmation receipt.
Statement download through Axis Bank Internet banking
You can download an Axis bank statement through Internet banking.
- Go to the official website of Axis Bank Internet banking portal and log into your account using the login credentials.
- Go to the account section and click on the statement option.
- Enter the period of the statement. You can select it from the preset timeframe, like last month, last three months, or last year, or you can also choose the dates manually.
- If you have more than one account, select the account for which you want to download the statement.
- Select the format and click download. Then, you can go through your bank statement, which contains transaction history, current balance, outstanding payments, etc.
