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Explore the benefits and exciting offers on your Axis Bank Credit Card. Get rewarded for using your Credit Card with eDGE Loyalty Rewards and redeem them against choicest products and gift vouchers.
Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses.
The Bank has a large footprint of 1947 domestic branches (including extension counters) and 11,245 ATMs spread across the country as on 31st March 2013. The Bank also has overseas offices in Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi.
Axis Bank is one of the first new generation private sector banks to have begun operations in 1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India),Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The shareholding of Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003.
With a balance sheet size of Rs.3,40,561 crores as on 31st March 2013, Axis Bank has achieved consistent growth and stable asset quality with a 5 year CAGR (2009-13) of 26% in Total Assets, 24% in Total Deposits, 27% in Total Advances and 37% in Net Profit.
In fact, BankBazaar.com has association with Axis Bank Credit Cards, wherein the users can choose from many of the bank’s credit card types, compare their features and apply for the chosen credit card online. In fact, the online loan platform of Axis Bank’s official website is powered by technology developed by BankBazaar.com, which means that one can apply for the chosen loan via BankBazaar.com.
This card allows you to personalize your card design and choose your benefits. You can now customize features and benefits according to your spending and saving needs, so that you get the best out of every transaction you make.And it’s not just the looks of the card that are customisable. You can even choose the categories you regularly use the card for, and avail benefits on them.Be the craftsman of your own card.
Read in detail about the My Choice Credit Card.
This card is specially created for those who like to experience life to the fullest.With benefits such as free tickets, cash back on domestic travel, hotel & holiday vouchers, etc.The explorer inside you gives the privilege to travel beyond the flight of imagination. This offers two complimentary air tickets on joining and exciting cash back offers on flight tickets, hotel bookings, bus and rail bookings.
Read in detail about the My Wings Credit Card.
This card offers you benefits that allow you to enjoy your entertainment experiences even more.It provides exciting offers on movie tickets, dining, shopping, etc., an ideal credit card for fun loving people. Its a card that allows you to have unlimited fun while you are out with your friends.
Read in detail about the My Zone Credit Card.
This card offers you to enjoy some of the best-in-class privileges in travel & living, dining and lifestyle.Its a is EMV certified Chip embedded Card, which gives you the highest levels of security and reduces the possibility of counterfeit or skimming as against a normal magnetic stripe credit card.This card offers complimentary insurance cover of Rs. 2.55 crore on air accident, credit shield and lost card liability.
Read in detail about the Signature Credit Card.
Axis Bank Credit Card will soon be a lot more frequent with customers if all goes as planned in the next three years. Jairam Sridharan, President - retail lending and payments, Axis Bank, said that they are expecting that credit card swipes will breach the 1,000 crores mark and will grow two to three times in the near future.
In a chit chat with media persons in Chennai, Jairam further revealed that in terms of the retail lending portfolio, they expect the credit card spends to only go upwards and with 1.5 million credit cards already in the kitty, the company is looking to reach 3 million credit cards in the next three years.
Speaking on the 1,000 crore figure reached by the credit card spends, he said that this is the highest in the industry and is a whopping 84 per cent increase from the usual credit card spending.
Also thanks to the reduce in frauds or default in credit card payments, the credit card industry is finally looking at the bright side and this is also attributed to one of the reasons for the credit cards coming close to the all-time historic levels of 1,000 crores. In fact the data reveals that the frauds, misuse, default in payment or discontinuing the card has come down by half which was at close to 9 percent.
8th December 2014
You have one big swipe and struggling to pay the money, fear not – go for EMIs. So what to do the next time you get a call from the credit card company pushing you for EMIs?
In short like any EMI, you can pay in monthly instalments, the outstanding amount on your credit card, just like a loan along with monthly interest.The Interest rates and charges
In short, it depends from bank to bank. ICICI Bank interest rate for credit card EMI is at 13 per cent which reduces every quarter from three, six, nine and 12-month onwards. For EMIs above 18 to 24-month, the interest rate is at 15 percent on reducing basis. For outstanding balances you have to 3.4 per cent per month and as high as 44 per cent for unpaid balances. You can also convert it into a loan. Axis Bank does the same with a processing fee at 1.5 per cent of the balance amount or Rs.150, whichever is higher. SBI charges processing fee of 2 per cent with a minimum of Rs.199 and a maximum of Rs.1,000. Education cess and service tax also apply.
So how is it beneficial?
For example, you make a purchase of Rs.50,000 on your SBI Gold Credit Card. With the six-month EMI you pay Rs.8,554, with the total amount coming to Rs.51,825 (including Rs.500 processing fee). If you don’t want the EMI and you want to pay Rs.10,000 for five months, the total payment comes to Rs.53,850 as this includes the 20-50 day interest-free period, higher than the EMI amount.
5th December 2014
One of India’s leading private sector banks, Axis Bank is responding to the country’s recently emergent and stable economy by stepping a little way out of its comfort zone and incrementing its unsecured loans portfolio, thereby improving yields on advances. The preferred target segments include credit cards and personal loans that will be backed by its enviable Rs.2.42 lakh crore lending portfolio. At the end of September 2014, the bank boasted of Rs.94,300 crore worth of retail advances, of which a paltry 18% amounted to unsecured lending.
However, in light of recent economic events and The Organization for Economic Cooperation and Development (OECD)’s assessment that India would grow by 6.6% through the 2015-16 fiscal year, Axis Bank sees a golden opportunity to scale up its credit card consumer base numbering about 1 million currently, to a more competitive number. It must be noted that most lenders had abandoned the unsecured lending business post the 2008 global economic crisis- a situation that Axis Bank is just coming out of after reporting over 4.5 times improvement in its lending business to currently stand at Rs.94,300 crore as compared to Rs.20,800 crore in March 2010.
20th November 2014