Axis Bank Amends Fee for Exceeding Minimum Free ATM Transaction Limit, Effective From July 1

Axis Bank Amends Fee for Exceeding Minimum Free ATM Transaction Limit, Effective From July 1

Axis Bank has introduced changes to its tax rates on savings and trust accounts, which are scheduled to come into effect on July 01, 2025. The bank is updating the fee charged on ATM transactions when the minimum free limit is exceeded. These rates will be valid for both Axis and non-Axis ATMs. These revised tax rates will be valid for widespread account holders having savings, NRI, and trust accounts in Axis Bank and also priority and burgundy segment customers.

In accordance with the official notification issued by the RBI on March 28, 2025, “The ATM interchange fee will be as decided by the ATM network.” The notification further states, “Beyond the free transactions, a customer may be charged a maximum fee of Rs 23 per transaction. This shall be effective from May 1, 2025. Applicable taxes, if any, shall be additionally payable. These instructions will also apply, subject to modification, to transactions conducted at Cash Recycler Machines (excluding cash deposit transactions).”