The most common financial resolution for many of our countrymen every year is to ‘save some this year’. This money could be for that dream vacation, to settle the home loan or to secure one’s future. Yet one financial product specially made to help you with it is largely ignored- Savings Account.
Axis Bank offers a wide range of Savings Account Schemes to help you meet all your savings goals. Not every saving account is designed equal, and there are several and diverse aspects such as interest rates, minimum deposit requirement and other fees to think through before picking one. Lakhs of individuals in India work as insurance agents. As the name suggests, this savings account is majorly designed for insurance agents to protect their financial interests and future.
Highlights of Axis Bank Insurance Agent Account
|
Bank |
Axis Bank |
|
Category |
Axis Bank Insurance Agent Account |
|
Average Balance Requirement |
INR 5000 (in Metros) |
|
Interest Rate |
4 percent paid every 3 months |
|
Primary Debit Card |
Visa Classic ATM-Debit Card |
|
Eligibility Criteria |
Licensed insurance agent in India |
Features & Benefits of Axis Bank Insurance Agent Account
- Being the first of its kinds, Axis Bank Insurance Agents Savings Account aims to offer a secure financial future to insurance agents, a job full of ups and downs.
- Enjoy 4 percent of interest on your daily balance in the account, which will be credited quarterly.
- In metros, a concession in minimum requirement of opening deposit is allowed, starting at INR 5000.
- You are permitted a high withdrawal limit of INR 40,000 at ATMs and INR 1 lakh for shopping transactions per day.
- This account grants a rewards program called eDGE Loyalty Rewards Program through which you can earn cash points per transaction. Some of the rewardable funds transfer are credit transactions for INR 50,000 or more through your Pensions Savings Account every month, opening an RD account of INR 2000 and above and starting an AxisDirect Account.
Debit Card with Axis Bank Insurance Agent Account
- Visa Classic Debit Card is issued at a minimal fee of INR 150 and thereafter the same will be charged every year.
- You can get personal accident insurance of up to INR 2 lakhs by using your card at least once in 6 months.
Eligibility & Documentation for Single/ Joint Accounts:
|
Type |
Documents |
Applicant |
|
Copy of any ID proof documents |
PAN Card, Voters ID, Driving License, Rental Agreement, Aadhar, Passport, Job Card by NREGA duly signed by an officer of the State Government, or UIDAI Card |
Both the applicants (if applicable) |
|
Copy of any Residential address proof |
Voters ID, Driving License, Rental Agreement, Aadhar, Passport, Job Card by NREGA duly signed by an officer of the State Government, or UIDAI Card |
Only the primary holder (in case of joint account application) of the account needs to give the same along with a relationship proof between the holders. |
Fees and Charges of Axis Bank Insurance Agent Account
|
Monthly Service Fee in Metro & Urban Axis Branches |
INR 5 per INR 100 of shortfall or INR 350 (whichever is less). This is cancelled if the Average Monthly Balance (AMB) of INR 5000 is retained consistently. |
|
Monthly Service Fee in Semi-urban Axis Branches |
INR 5 per INR 100 of shortfall or INR 250 (whichever is less). This is cancelled if the Average Monthly Balance (AMB) of INR 2500 is retained consistently. |
|
6-Monthly Service Fee in Rural Axis Branches |
INR 5 per INR 100 of shortfall or INR 750 (whichever is less). This is cancelled if the Half-Yearly Balance (AMB) of INR 2500 is retained consistently. |
|
Primary Debit Card Issuance Fee |
INR 150 |
|
Yearly Debit Card Membership Fee |
INR 150 (Metro/ Urban) INR 100 (Rural/ Semi urban) |
|
ATM Withdrawal Limit/ Day |
INR 40,000 |
|
Shopping limit/ Day |
INR 100,000 |
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