The highlight of an Axis bank NRE account is its ease of use and modern services/features. Compared to other banks, Axis bank has an amazingly useful website and services that are at par with any bank in the USA. Their published interest rates aren’t as great as other banks, say for example IDFC Bank (that offers 7% interest on deposits over Rs.1 Lakh) but they are very aggressive with high-value clients. Some of their products offer high-end custom/personal banking (like in the NRE Burgundy account) that many other banks cannot afford or offer.
Having said that, there are many customer complaints on hidden charges and aggressive behavior from sales representative/bank staff, pitching irrelevant products to customers, which many customers find annoying.
But it is a fact that Axis bank has many attractive products and services for their NRI customers, than compared to other banks.
- 3.5% Interest rate
- Tax free
- Online services
- 24×7 Customer support
- Aggressive sales executives
- Hidden charges
If you’ve used Axis bank’s NRE services, feel free to share your experience below.