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Kerala have 14 points from six games and are out of contention for a place in the quarterfinals.
The hosts, who gained a huge first innings lead of 183, declared their second innings on 265/6.
Veteran Saxena has the highest base price (Rs 40 lakh) among Kerala players.
Kerala, who have 24 points from six games, are assured of top spot in Group B.
Sachin (30) and Salman Nizar (24) were at the crease after yet another top-order flop show.
The visitors reached 137/2 in reply to Kerala's 342 at stumps on the second day of their Elite Group C match.
Off-spinner Saxena picked up eight wickets on the final day as Services were bowled out for 136 shortly after lunch.
After Sachin Baby's 159 took them to a first innings total of 327, Kerala reduced Services to 167/6 at stumps on day two.
Kerala, who conceded a first innings lead of 46, are ahead 126 by going into the final day with four wickets in hand.
Jalaj Saxena was declared man of the match for his match haul of 11/123.