Axis Bank — negative balance in savings account due to non-maintenance of balance. | |
I had a salary account in axis bank which was converted to savings account since the salary was not being credited for a long time. I tried to transfer some amount in this account through NEFT. This amount was returned back. Reason stated was credit freeze and I need to visit the branch for that. Since the balance in the account was less than 10000, they started deducting 500Rs. every month. Now, when I contacted the branch to resume my account credit facility, I came to know that the balance in my account is -5800Rs. Since, the account is 9 years old, I do not want to close it but operate it normally. But they say that as soon as you deposit the amount, it will deduct the negative balance first. As per RBI guidelines, no bank can create a negative balance in a savings account, then how can Axis bank violate their guidelines. Refer link https://economictimes.indiatimes.com/news/economy/finance/no-negative-balances-in-savings-accounts-rbi/articleshow/5...⇄ Further, I tried to deposit money in my account 4-5 times and everytime it was returned, what is my fault in this matter. I request Axis bank to waive of the negative balance so that I can continue using the services of my savings account. Was this information helpful? | |
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