Dormant account: Explore the meaning of Dormant Account

Explore the meaning of Dormant Account is a bank account with no financial activity for 12 to 24 months. Click to learn more with Axis Bank! Dormant account fee or a dormancy fee is often charged by banks if you haven’t made any transaction from that bank account for a certain period of time. This fee or penalty can vary depending on the bank, the type of account , and the period the account has remained dormant for. Struggling with an inactive bank account ? Discover the steps to reactivate it quickly and hassle-free. Get started now! i. Dormant Accounts : Accounts that have not seen any transaction activity for continuous 2 years or more. These accounts are highly susceptible to fraudulent activities, as they tend to be neglected by their holders, making them targets for hacking and other malicious actions.