Axis Bank Prime Salary Account
Overview:
Bank | Axis Bank |
Category | Salary Account (Prime Salary Account) |
Minimum Balance Requirements | Zero |
Initial Deposit Requirements | Zero |
Interest Rate | Four percent interest (paid per quarter) |
Debit Card Offered | MasterCard Titanium Rewards Debit Card |
Features and Benefits of Prime Salary Account of Axis Bank
- By adding prime features to your payroll account, you can access incomparable perks with this savings account.
- With no initial opening and balance maintenance requirements, you are also offered indefinite online NEFT transactions at absolutely no charges.
- You can also claim two multi-city at par cheque book quarterly for free in addition to a couple of free Pay Orders and Demand Drafts (DDs) drawn monthly at any Axis Bank branch.
- You can get free account statements on monthly basis by registering for the same or by texting GREEN to 5676782
- Proudly standing at the third position among the Indian private lenders, Axis Bank has a strong national presence with 2500 branches and around 12,100 ATMs.
- You can also sign up for internet and mobile banking services.
- MasterCard Titanium Rewards Debit Card knocks your door free of joining fees as well yearly charges if you are a primary account holder.
- Get five percent Cash Back every time you buy a film ticket.
- You can avail at least 15 percent of rebate at more than 4000 restaurants associated with the bank with the Dining Delights program offered with the card. Not to mention getting your additional fuel charges waived off (no more than INR 200 monthly).
- A much higher withdrawal and shopping (by card) limit of INR 50,000 and INR 4 lacs respectively is another highlight of this debit card.
- While most other banks offer less number of free transactions, you can enjoy ten free transactions at Axis Bank ATM and five free transactions at other bank ATMs in a month.
- Novelty of a customized cash card has not worn off yet and make heads turn by embossing an image of your choice picked from the site, axisbank.com/mydesign
- Unique perks for premium corporates see endless with one percent money on monthly spend of INR 750, 25 percent money back on film tickets up to INR 1000 annually.
- While most cards offer indemnity of up to two or five lacs, this card offer personal accident cover of up to INR 10 lacs. You are also offered more air accident death cover if up to INR 25 lacs.
- Personal Accident Cover: In the unlucky occurrence of demise in an accident, the client's near and dear ones can avail the benefit of accident cover of INR 5 lacs.
- Axis Bank also insures you against the consequences of card loss. You are to notify the bank immediately after realizing you lost your card, which is easy as they have a round-the-clock customer care centre. And you are insured for any king of swindle related to it.
- Purchase Protection is another attractive benefit as everything you buy with the card is insured for up to three months against hazards like fire, natural disaster, break-in etc. You can claim for a joint lost card accountability plus purchase protection of up to INR 1.50 lacs.
- Please note that to be eligible for insurance your card has to be in your possession for at least six months prior to the date of accident.
- Prime Salary Savings Account offers a special Family Banking Program in which you can register up to three family members, so that all the above benefits can be accessed by your people too.
- Under the Family Banking Program, you also have the option of choosing a Family Name and link a savings account in your name for their use.
- If you are making use of the bank’s locker facility, remember that you are eligible for 10 percent rebate.
- eDGE Loyalty Rewards Program lets all Savings Account users to earn points on certain transactions and by keeping a monthly balance of at least INR 25,000. You can exchange these points against any item listed in the bank’s rewards catalogue.
Eligibility Criteria for Axis Bank Prime Salary Account
To start an Axis Bank Prime Salary Account, you must procure an introductory letter from the corporate you work at as per the format given by the Bank, which must be duly sealed and signed by the official signatory.
Documentation Procedure for Axis Bank Prime Salary Account
The applicant should submit an address and identity proof as specified below.
- Two most recent passport sized photo (less than six months old).
- Address Proof can be a copy of any of your latest utility bill, Ration Card, Gas Connection Book, IT Returns papers or Rental/ lease agreement.
- ID Proof can be a copy of your Driving License, PAN Card, Voter ID Card, Passport, Aadhaar Card, or any photo ID provided by government, defense or any public sector enterprise etc.
- Please remember to bring all the aforementioned documents for both the parties if you are opening a Joint Account.
How to Apply for Prime Salary Account with Axis Bank
To start a Prime Salary Account, your company must have a Salary Account association with Axis Bank in the first place. If that is taken care of, you can either visit your nearest Axis branch or email your request to salary.power@axisbank.com. You may also send an SMS (‘Salary’) to 5676782. A bank representative will get in touch with in in a day to take it forward.
Fees & Charges Applicable on Axis Bank Prime Salary Account
BASIC CHARGES | ||
SL No | Particulars | Amount |
1 | First Funding | Zero |
2 | Average Balance to be maintained in metro cities | Zero |
3 | Charges for Account Service in metro cities | Not Applicable |
4 | Average Balance to be maintained in urban areas | Zero |
5 | Charges for Account Service in urban areas | Not Applicable |
6 | Average Balance to be maintained in semi urban areas | Zero |
7 | Charges for Account Service in Semi Urban areas | Not Applicable |
8 | Average Balance to be maintained in rural areas | Zero |
9 | Account Service Charges in rural areas | Not Applicable |
10 | Total Relationship Value (for every location) | Not Applicable |
11 | Fee levied to issue Primary Card | Zero |
12 | Yearly fee for Primary Card | Zero |
13 | Fee to issue a Joint Card | INR 150 (Extra INR 50 for CHIP & PIN embedded card)/ INR 500 for Titanium Rewards |
14 | Yearly fee for Joint Card | INR 150/ INR 300 for Titanium Rewards |
15 | To issue customized Debit Card (from My Design) | Original Card Issuance cost + INR 100 |
16 | To issue card with CHIP & PIN | Zero |
17 | DD/ PO Issuance: Number of free DD/ PO | Two in a month |
18 | To close the account | INR 500 |
19 | NetSecure with 1 Touch Issuance fee | INR 800 |
TRANSACTION CHARGES | ||
SL NO | Particulars | Amount |
1 | Limit to withdraw from ATM per day | INR 50,000 |
2 | Shopping limit in a day | INR 4 lacs |
3 | Free monthly transactions in Metro or Urban areas | Initial five transactions or up to INR 10 lacs (whichever is earlier) |
4 | Free monthly money transactions in Semi-Urban and Rural areas | Initial ten transactions or up to INR 10 lacs (whichever is earlier) |
5 | Penalty fee levied on Deposits and Withdrawals above stipulated limit | INR 5 per INR 1000 or INR 150, whichever is more |
6 | Fee levied to collect Outstation Cheque | Up to INR 5000, they charge INR 25 per cheque; For amount between INR 5000 and INR 10,000, INR 50 is levied; For sum between INR 10,000 and INR 1 lakh, INR 100 is charged and for all cheques above INR 1 lakh, they levy INR 200 for each cheque as fee. |
7 | RTGS Charges (from Branch) | INR 25 for INR 2 lacs to INR 5 lacs; And INR 50 for transactions for more than INR 5 lacs. |
8 | RTGS Charges (Online) | Zero |
9 | NEFT Transaction Quarterly Limits | Limitless online transactions allowed |
10 | NEFT Charges (from Branch) | INR 2.5 per transaction for up to INR 10,000; INR 5 is charged for transaction between INR 10,000 and INR 1 lakh; INR 15 is levied for transaction between INR 1 and 2 lacs and any transaction above INR 2 lacs are charged INR 25. |
11 | NEFT Charges (Online) | Zero |
12 | IMPS Fees | Upto Rs.1 Lakh - Rs.5 per transaction, Rs.1 Lakh to Rs.2 Lakh - Rs.15 per transaction |
13 | Fees levied for Speed Clearing | Free up to cheque sum of INR 1 lakh. Charged INR 150 for money above INR 1 lakh |
14 | Axis/ Non-Axis ATM: Cash Withdrawal (Financial transaction) fees after free transactions | INR 20 for each transaction |
15 | Axis/ Non-Axis ATM: Balance Enquiry (Non-Financial transaction) fees once you exhaust the limits | INR 8.5 for each transaction |
16 | For money withdrawals from overseas ATMs | INR 125 |
17 | Global Balance Enquiry charges at ATMs | INR 25 |
18 | Surcharge on Train Tickets bought with your Debit Card | 2.5 percent of the sale amount (at least INR 10) + INR 30 for each transaction |
19 | Additional charges at fuel stations | 2.5 percent of the sale sum (at least INR 10) (This is waived off if you have a Titanium Rewards card) |
20 | Cross Currency Mark-up on Overseas Debit Card Transactions | 3.50 percent |
TRANSACTION FAILURE CHARGES | ||
SL NO | Particulars | Amount |
1 | Return of Outward Cheque | INR 150 for each cheque |
2 | Return of Inward Cheque | INR 350 for first Cheque and INR 750 per instance starting from 2nd Cheque |
3 | Return of Outstation Cheque | INR 150 for each cheque |
4 | If ECS Debit Fails | INR 350 for first ECS Debit return and INR 750 for each instance starting from 2nd transaction |
CONVENIENCE CHARGES | ||
SL NO | Particulars | Amount |
1 | Fee to replace the debit card | INR 150 |
2 | For an extra MyDesign Card (Replacement Charges) | Original Replacement Fee +INR 100 |
3 | Replacement Fee for additional CHIP & PIN embedded card | Zero |
4 | Fee for extra Cheque book | INR 50 per cheque book (20 leaves) |
5 | To issue Duplicate PIN (only for branch mode) | INR 100 |
6 | To issue Duplicate Passbook | INR 100 |
7 | Fee to obtain Physical Statement at bank branch, for previous quarters | INR 100 |
8 | Charges for Stop Payment Instructions via Cheque | INR 100 per cheque, with a maximum of INR 200 for Series (>2) |
9 | Charges for Stop Payment Instructions via ECS | INR 100 |
10 | To cancel DD/ PO | INR 100 |
11 | To issue duplicate DD/PO | INR 100 |
12 | To revalidate DD/ PO | INR 100 |
13 | Fee for Additional DD/ PO | INR 50 |
14 | To get Value Added SMS Alerts | INR 5 monthly |
15 | Charges for Address Confirmation | INR 100 |
16 | To get the photo attested | INR 100 |
17 | Charges to verify signature | INR 100 |
18 | Fee for Balance Certificate | INR 100 |
19 | Locker charges | Varies by Size and branch category (Metro/urban/semiurban/rural) |
20 | NetSecure with 1 Touch Replacement fee | Rs.500 |
OTHER ADDED CHARGES | ||
SL NO | Particulars | Amount |
1 | Demat A/C yearly fees where pertinent | If the Demat account is connected with your savings account- INR 650; If Demat account is not connected to your savings account- INR 2500 |
2 | Other Free Services & Discounts | Demat Account AMC (1st Yr) |
OVERSEAS CURRENCY CHARGES | ||
SL NO | Particulars | Amount |
1 | International Currency Outward Remit by Wire/ TT/ Swift | INR 1000 |
2 | Overseas Currency Outward Remit by Demand Draft | INR 250 or 0.3 percent (whichever is more) |
3 | Overseas Currency Inward Remit Fee for each remittance | INR 250 |
4 | Overseas Currency Inward Remit: FIRC Fees Levied | INR 100 |
5 | To deposit overseas currency at branches | INR 100 |
6 | For traveler cheques & currency notes | INR 100 |
7 | Base Charges for Overseas Currency Cheque | 0.25 percent of INR Value + Service Tax (at least INR 111) |
8 | IRM Commission for Overseas Currency Cheque | INR 250 |
9 | Courier charges for Overseas Currency Cheque | INR 50 |
10 | Foreign Currency Cheque: Additional Charge -FCS only | Charged as per the correspondent bank |
11 | Extra charges levied for Overseas Currency Cheque (Only Direct Collection) | Drawee Bank Charges - On Receipt |
12 | Extra charges levied for Overseas Currency Cheque (Only Reimbursement Collection) | Drawee Bank Charges - On Receipt & Correspondent Bank Charge is 13 USD |
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