Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Axis Bank Commercial Credit Card

    Axis Bank is one of the leading banks in India that offers great financial solutions to its customers. The credit cards offered by Axis bank come with a lot of innovation and flexibility. They are designed to meet the changing needs and requirements of the customers. The Axis Bank Commercial Card is a unique credit card that comes with several benefits and perks that can definitely prove to be useful for you.

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    Axis Bank Commercial Credit Card Highlights:

    • Manage your travel policies and negotiate terms with your suppliers.
    • Employees can easily keep their official expenses and personal spends separate.
    • Reimbursement process is simplified using this credit card.

    Benefits of Axis Bank Commercial Card:

    The Axis Bank Commercial Card comes with a myriad of benefits. These are as follows:

    • Lounge benefits: Use your Corporate Credit Card to access International and Domestic airport lounges.
    • Streamlining all payments: The organisation that you work for will be tracking all your expenses on travel and entertainment. If you are a corporate, you can assign spending limits to individual employees so that you have better control over expense management.
    • Better deal: Avail access to detailed information about transactions. This information can be used for negotiating discounts with the key vendors. Your employee compliance can also be managed with the travel policies supported with the merchant level organisational spends.
    • Rewards program: You can earn a lot of points using this particular credit card and redeem the points for gift vouchers and exciting offers. You can check out the list of things that you can choose from on the official website of the bank, when you redeem the accumulated points.
    • Insurance protection: Avail insurance coverage with the Axis Bank Corporate Card.
    Coverage Cost
    Liability for lost card including counterfeit Rs.3,00,000
    Checked baggage loss Rs.30,000
    Credit Shield Rs.5,00,000
    Baggage loss Rs.30,000
    Baggage delay Rs.30,000
    Personal Accident Rs.4,50,00,000

    Features of Axis Bank Corporate Card:

    The Corporate Credit Card offered by Axis Bank comes with several attractive features. These are as follows:

    Corporate Liability: These credit cards help you to manage all your travel policies. Along with that, these cards help in negotiating the preferential terms with the major suppliers. After the corporateā€™s credit assessment is done, these credit cards can be issued. The corporates then assign the limit on the individual credit cards. The liability for the total outstanding balance on the card is borne by the corporate. Payment for the card is directly made to Axis Bank once every month instead of making multiple payments to the suppliers or the employees.

    Individual Liability: These credit cards work on the same lines as any other regular credit card. These cards help the employees to keep their personal expenses and corporate spends separate. They also simplify the process of reimbursement. The credit limit is assigned to the employee after proper individual assessment.

    Other features of the card are as follows:

    • You can check all the details of your card using Internet Banking. These include viewing the credit limit, outstanding balance, available limit and total due amount.
    • You can easily pay all your utility bills using the Corporate Card. These include telephone bills, electricity bills, internet bills, etc.
    • Keep a track of all the unbilled transactions with information such as history of the transactions, name of merchants and amount of these unbilled transactions.
    • Avail the credit statement for the past 13 months.
    • When you use the Axis Bank Corporate Card, you can get the name of your organisation embossed on the card. This will provide recognition and association to the employees.
    • The organisation that you work for can avail substantial discounts on the all the hotel booking and flight ticket purchase when they do it online.
    • Avail fuel surcharge waiver across all the petrol pumps in India. The minimum transaction must be Rs.400 and the maximum transaction can be Rs.4,000 to avail the waiver.
    • Enjoy easy online access to all your transactions and manage your data better. You can avail more than 100 interactive reports and schedules every day. This particular facility has the capability to extract flexible data. You can also restrict access at all the user levels.

    Eligibility:

    • You must fill up the CIB application form and register the user who will be using the commercial card.
    • Choose the option that says Commercial Cards.
    • When the on-boarding is successful, then the user will be able to access the commercial corporate cards.

    Documentation:

    Documents required for Corporate Liability are as follows:

    • AOA/MOA.
    • Corporate PAN card.
    • Board Resolution.
    • Corporate Application Form.
    • Post Credit Appraisal.

    Documents required for Individual Liability are as follows:

    • Form 60 or PAN card.
    • Salary slip, Form 16, offer letter.
    • Address proof including driving licence, ration card, electricity bill, etc.

    Fees and Charges:

    Corporate Liability:

    Types Fees and charges for Corporate Liability
    Fee for joining As per agreement with the company
    Annual fee As per agreement with the company
    Fee for add-on card (joining) Not Applicable
    Fee for add-on card (annual) Not Applicable
    Replacement of card (stolen or lost) Nil
    Fee for cash payment Nil
    Fee for duplicate statement Waived
    Fee for copy request Rs.200
    Fee for outstation Cheque Waived
    Transaction alerts on mobile Waived
    Charges for hotlisting Nil
    Chargers for balance enquiry Waived
    Finance charges Not Applicable
    Late payment fee 3% of the due amount subject to a minimum amount of Rs.350
    Penalty for over limit 3% of over limit amount, subject to a minimum amount of Rs.300
    Dishonor fee Rs.300
    Cancellation or purchase surcharge on train tickets As per Indian Railways or IRCTC
    Fee for foreign currency transactions 3.50%
    Service tax As per the Government norms
    Card replacement emergency fee As per VISA GCAS (Global Customer Assistance Service)

    Individual Liability

    Types Fees and charges for Individual Liability
    Fee for joining As per agreement with the company
    Annual fee As per agreement with the company
    Fee for add-on card (joining) Not Applicable
    Fee for add-on card (annual) Not Applicable
    Replacement of card (stolen or lost) Nil
    Fee for cash payment Rs.100
    Fee for duplicate statement Waived
    Fee for copy request Rs.200
    Fee for outstation Cheque Waived
    Transaction alerts on mobile Waived
    Charges for hotlisting Nil
    Chargers for balance enquiry Waived
    Finance charges 2.95% each month (41.75% each year)
    Late payment fee If outstanding is up to Rs.2,000 then you have to pay Rs.300; If outstanding is between Rs.2,001 and Rs.5,000, you have to pay Rs.400; If outstanding is Rs.5,001 or above, you must pay Rs.600
    Penalty for over limit 3% of over limit amount, subject to a minimum of Rs.300
    Dishonor fee Rs.300
    Cancellation or purchase surcharge on train tickets As per Indian Railways or IRCTC
    Fee for foreign currency transactions 3.50%
    Service tax As per the Government norms
    Card replacement emergency fee As per VISA GCAS (Global Customer Assistance Service)

    FAQs

    1. What is the cost that is covered for baggage loss?

      The cost that is covered for baggage loss is Rs.30,000.

    2. Do I get any airport lounge benefits with the Axis Bank Commercial Credit Card?

      Yes, you can get domestic airport lounge benefits with the credit card.

    3. What is the mark up for foreign currencies?

      You will get a markup of 3.50%.

    4. What is the penalty I have to pay for over limit?

      You have to pay 3% of over limit amount, subject to a minimum amount of Rs.300.

    5. Do I need to pay any fee to get a duplicate credit card statement?

      No, you do not have to pay any fee.

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