A Passbook is a notebook that helps record transactions in the bank account. It includes the details of money credited, money debited, deposits, and withdrawals. Also, it contains details of the transactions like date, amount, and balances. One is required to visit any nearest branch to get the passbook updated. Axis Bank Passbook is a ready reckoner for its customers as it gives them its details on a real-time basis. It is an easy-to-understand and handy document that provides a snapshot of all the transactions made in the bank account. For those who are not tech-savvy, it is of great help.
Though banks nowadays send monthly statements online along with access on the phone, the RBI has made it compulsory for banks to issue passbooks to customers free of cost.
Components of a Passbook
The first page of the passbook contains the below-mentioned particulars:
- Accountholder’s name
- Accountholder’s address
- Accountholder’s contact number
- Accountholder’s account number with the bank
- Accountholder’s customer ID
- Accountholder’s scheme ID (if the account is opened via a government scheme)
- Bank’s name
- Bank’s branch address
- Bank’s IFSC
- Date of opening the account
- Account nominee details (if any)
One may not be able to visit the bank after every transaction to get the passbook updated. In that case, customers can make use of internet banking and mobile banking. While visiting a bank to carry out large amounts of transactions be it via Demand Draft or Cheque Book, one should ideally get the passbook updated after the payment is processed. Also, one should get it encashed within the Demand Draft Validity or Cheque Book validity i.e. 3 months. It will help to keep track of the transaction to refer to it in the future as well. After the initial page, next comes the details of the transactions that are as mentioned below:
- Date (date when the transaction took place)
- Particulars (particulars of transaction such as transaction ID and name of an entity)
- Debit (Money withdrawn from the account)
- Credit (Money deposited in the account)
- Balance (Final Balance on the transaction date)
Benefits of Axis Bank Passbook
Mentioned below are the benefits of the Axis Bank Passbook:
- To Keep a Record of Account Statements:
A Passbook is a record-keeping book that saves the transaction history of the bank account and can be kept forever. It can be referred to check the transactions made in the bank account. It contains details like the date of the transaction, amount credited and debited, particulars of the transaction, and account balance.
- To Track and Monitor Account Transactions:
As we know, a passbook contains the record of the transactions made, it can be used to track and monitor the cash flow of the bank accounts. Tracking and monitoring help in managing funds, especially in the case of many bank accounts. It helps in planning savings and expenses and further helps in planning and strategizing ways to reach financial goals.
- To Present as a Proof of the Transactions:
The passbook is used to record financial transactions for a bank account which can be used as proof. For example, when HR of an organization asks for either pay slips or a copy of account transactions that proves that the salary was credited to the bank account.
Some Additional Benefits:
- There is no need to stand in long queues to get the passbook updated.
- It can be updated at per customer’s convenience.
- It is available 24*7.
- One can get the passbook updated quickly i.e. in a short span of time.
- There are no charges involved.
How to Get Axis Bank Passbook?
Mentioned below are the steps to be followed to get the Axis Bank Passbook:
Step 1: Visit any nearest Axis Bank Branch and ask for a Passbook Form.
Step 2: Submit the form along with the documents like ID Proof and address proof.
Step 3: Customers are required to get it updated regularly by visiting the bank.
Also, customers can download the Passbook online via Mobile Banking and Internet Banking. For this, they have to log into the app or website with the help of login credentials and get the passbook downloaded.
How to Download Axis Bank Passbook via Mobile Banking App
Mentioned below are the steps to download the Axis Bank Passbook via the Mobile Banking App:
Step 1: Download the Axis Bank Mobile on your smartphone.
Step 2: Login using credentials.
Step 3: Select the bank account for which the passbook is to be downloaded in case of multiple bank accounts.
Step 4: Click on “Passbook”.
Step 5: Select the date range for which the passbook is to be downloaded.
Step 6: Enter the mPIN.
Step 7: The passbook will be downloaded in PDF format.
How to Download Axis Bank Passbook via Net Banking
Mentioned below are the steps to download the Axis Bank Passbook via Internet Banking:
Step 1: Go to the official website of Axis Bank and make a login using your credentials.
Step 2: Go to the tab “Account Summary”.
Step 3: Select the bank account for which the passbook is to be downloaded.
Step 4: Click on the option “Download Statement”.
Step 5: Select the date range for which the passbook is to be downloaded.
Step 6: Select the format in which the passbook is to be downloaded – PDF, Excel, or CSV.
Step 7: Enter the OTP received on the registered mobile number and click on “Submit”.
Step 8: The passbook will be downloaded in the format selected.
How to Register for E-Statements via Internet Banking
Mentioned below are the steps to register for the Axis Bank E-Statements via Internet Banking:
Step 1: Go to the official website of Axis Bank and make a login using your credentials.
Step 2: Go to the tab “Account Summary”.
Step 3: Select the bank account for which the E-statement service is to be registered.
Step 4: Click on the “Register for E-Statements” option.
Step 5: Choose the period i.e. when should the statement be received- monthly, quarterly, or half-yearly.
Step 6: Enter the e-mail ID where the email ID is to be sent.
Step 7: Read and accept the terms and conditions for receiving e-statements.
Step 8: Click on “Submit.
Step 9: The account statements will then be received on the registered email ID.
