Want to open a savings account at Axis Bank? This post shall help you.
Axis Bank is having a number of different savings account schemes but you can only open a few of them online with Video KYC. The rest of them would need you to visit your bank account and sign a form.
- Easy Access Savings Account (can be opened online)
- Prime Savings Account (can be opened online)
- Liberty Savings Account
- Prestige Savings Account
- Priority Savings Account (can be opened online)
- Burgundy Savings Account (can be opened online)
Easy Access Savings Account:
This is the basic axis bank savings account.
Initial Funding: ₹15000.
MAB: ₹15000.
Get access to all banking services via Axis Mobile App, as well as Phonebanking, and visiting branch.
Debit Card Features:
- Get an Instant Virtual E- Debit Card on Account Opening and Physical Online Rewards Debit Card delivered to your home.
- Debit Card Charges ₹590.
- 3% Cashback on Amazon & Flipkart.
- 5-15% Cashback across apparel & accessories, sports & travel, medicine, gifting & lots more on Grab Deals.
- 1% Cashback & 3x Reward Points on all Online Spends.
- Get 5L Personal Accidental Cover, 1 Cr Air Accident Cover, 500 USD lost baggage cover, and ₹50000 worth of purchases are insured with a physical debit card.
Joining Benefits:
- Free Times Prime Membership for 1 year.
- Times Prime Membership renewed automatically on annual spends of 1.5L on your E-Debit Card.
Prime Savings Account:
This is the basic axis bank savings account.
Initial Funding: ₹25000.
MAB: ₹25000 or 1 Lakh FD.
Get access to all banking services via Axis Mobile App, as well as Phonebanking, and visiting branch.
Debit Card Features:
- Get an Instant Virtual E- Debit Card on Account Opening and Physical Online Rewards Debit Card delivered to your home.
- Debit Card Charges ₹590.
- 3% Cashback on Amazon & Flipkart.
- 5-15% Cashback across apparel & accessories, sports & travel, medicine, gifting & lots more on Grab Deals.
- 20% Discount on BookMyShow.
- 1% Cashback & 3x Reward Points on all Online Spends.
- Get 5L Personal Accidental Cover, 1 Cr Air Accident Cover, 500 USD lost baggage cover, and ₹50000 worth of purchases are insured with a physical debit card.
Joining Benefits:
- Free Times Prime Membership for 1 year.
- Times Prime Membership renewed automatically on annual spends of 1.5L on your E-Debit Card.
Liberty Savings Account:
I have written a dedicated post on this with all features and benefits. Read: Axis Bank Liberty Savings Account: Features & How to Apply?
This is a hybrid savings account with one rule: You either maintain 25k MAB on your account, or you spend 25k per month using your debit card or UPI (for merchant transactions). If you spend 25k per month, you can keep this as a zero balance account.
Initial Funding: ₹25000.
MAB: ₹25000 or ₹0 (if you spend ₹25000 per month)
Get access to all banking services via Axis Mobile App, as well as Phonebanking, and visiting branch.
Debit Card Features:
- Get Liberty Debit Card.
- Earn 5% Cashback on weekend spends across Food, Entertainment, Shopping & Travel.
- ₹500 cashback can be redeemed per month, however, ₹1000 cashback can be redeemed on your birthday month.
- Milestone Rewards: Earn ₹750 Gift Vouchers on spends of ₹60000 in a financial quarter.
- Get 5L Personal Accidental Cover, 1 Cr Air Accident Cover, 500 USD lost baggage cover, and ₹50000 worth of purchases are insured with a physical debit card.
Prestige Savings Account:
Initial Funding: ₹75000.
MAB: ₹75000 OR 3 Lakhs across Savings, Current, FD, and MF investments.
Get access to all banking services via Axis Mobile App, as well as Phonebanking, and visiting branch.
Get a 24x7 Digital Relationship Manager.
Debit Card Features:
- Get Prestige Debit Card.
- Debit Card Charges ₹590.
- Get 1% cashback on fuel, 2% cashback on shopping, 3% cashback on shopping.
- Get 5L Personal Accidental Cover, 1 Cr Air Accident Cover, 500 USD lost baggage cover, and ₹50000 worth of purchases are insured with a physical debit card.
My Zone Credit Card
- Get a complimentary My Zone Credit Card.
Priority Savings Account:
Initial Funding: ₹2 Lakhs.
MAB: ₹2 Lakhs OR 15 Lakhs across Savings, Current, FD, and MF investments.
Get access to all banking services via Axis Mobile App, as well as Phonebanking, and visiting branch.
Also, get a dedicated relationship manager.
Debit Card Features:
- Get an Instant Virtual E- Debit Card on Account Opening and Physical Priority Platinum Debit Card delivered to your home.
- Debit Card Charges: Nil.
- 3% Cashback on Amazon & Flipkart.
- 5-15% Cashback across apparel & accessories, sports & travel, medicine, gifting & lots more on Grab Deals.
- 25% Discount on Movies.
- 1% Cashback & 3x Reward Points on all Online Spends.
- Get 5L Personal Accidental Cover, 1 Cr Air Accident Cover, 500 USD lost baggage cover, and ₹50000 worth of purchases are insured with a physical debit card.
- 8 Complimentary Airport Lounge Access per year.
Privelege Credit Card:
- Get Axis Privilege Credit Card with zero joining fees & travel/shopping vouchers worth Rs 5000* on milestone spends.
Joining Benefits:
- Free Times Prime Membership for 1 year.
- Times Prime Membership renewed automatically on annual spends of 1.5L on your E-Debit Card.
Burgundy Savings Account:
This is the basic axis bank savings account.
Initial Funding: ₹5 Lakhs.
MAB: ₹5 Lakhs.
Get access to all banking services via Axis Mobile App, as well as Phonebanking, and visiting branch.
Also, get a dedicated wealth specialist and relationship manager.
Debit Card Features:
- Get an Instant Virtual E- Debit Card on Account Opening and Physical Priority Platinum Debit Card delivered to your home.
- Debit Card Charges: Nil.
- 3% Cashback on Amazon & Flipkart.
- 5-15% Cashback across apparel & accessories, sports & travel, medicine, gifting & lots more on Grab Deals.
- 25% Discount on Movies.
- 1% Cashback & 3x Reward Points on all Online Spends.
- Get 5L Personal Accidental Cover, 1 Cr Air Accident Cover, 500 USD lost baggage cover, and ₹50000 worth of purchases are insured with a physical debit card.
- 8 Complimentary Airport Lounge Access per year.
- Get concierge services on your Card.
- Get complimentary Golf Round Acess.
Joining Benefits:
- Free Times Prime Membership for 1 year.
- Times Prime Membership renewed automatically on annual spends of 1.5L on your E-Debit Card.
Process to open Axis Bank Account:
The account opening process is now fully online and you don’t need to submit any physical documents. Your account will be verified via VKYC.
Click here to Open an Online Axis Bank Account.
You will need your PAN Card and Aadhar Number. After your VKYC is done, you can top up your account with funds using UPI, Debit Card, or Net Banking.
It takes 2-3 days to activate your account. Your account balance is not reflected instantly. So, don’t worry.
You will get your Account Kit along with Physical Debit Card to your registered address within 2 weeks.
Fees and Charges:
Click here to know the fees and charges.
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