‘Infinity Savings Account’ – Launched by Axis Bank

Current Context: The ‘Infinity Savings Account’ is a new savings account variant launched by Axis Bank, one of the leading private sector banks in India. It is a first-of-its-kind fixed fee-based savings account that offers zero domestic transaction fees and no minimum balance requirement.

• Free debit cards with no annual charges,Unlimited free transactions at any bank’s ATM,No charges on cheque book usage or transactions/withdrawals above limits,Free NEFT, RTGS, IMPS, UPI and bill payments
• The ‘Infinity Savings Account’ comes at a fixed monthly fee of 250 (plus GST), which can be waived off if the customer maintains an average monthly balance of 2.5 lakh or more.
• The account is aimed at digitally savvy customers who prefer convenience and transparency over hidden charges and balance requirements.
• The ‘Infinity Savings Account’ is a part of Axis Bank’s strategy to offer innovative and customer-centric products and services that cater to the evolving needs and preferences of the customers.
• The bank claims that the account will provide customers with a hassle-free banking experience and help them save on transaction costs.

Question:

Q.1 What is the fixed monthly fee of the ‘Infinity Savings Account’?
a. 100
b. 150
c. 200
d. 250