Axis Bank Defense Salary Account

Apart from offering customers savings accounts, investment instruments, and insurance policies, Axis Bank also offers corporates salary accounts for their employees. The bank has 6 types of salary accounts, each of which has features and benefits that are exclusively targeted at the customer base it aims to serve.

One of the salary accounts that Axis Bank offers is the Defense Salary Account. The 'Power Salute' account is aimed at catering to those employed with the armed forces.

Features and Benefits:

1. The Defense Salary Account is a zero balance account. The account holder need not make a deposit at the time of opening the account, nor does he/she have to maintain an average monthly balance.
2. The bank offers Defence Salary Account holders free unlimited at-par cheque books, demand drafts, and pay orders at all Axis Bank branch locations.
3. The account is eligible to earn interest up to 3.5% on the deposits made to the account holder's savings account.
4. Axis Bank offers its internet banking, mobile banking, and SMS alert facilities free of charge to Defence Salary Account holders. Additionally, account holders also have free unlimited access to the bank's ATMs and bank branches.
5. Account holders receive a Power Salute Debit Card when their account is opened. The bank does not levy any charges for the issuance and annual maintenance of the card.
6. The debit card comes with a number of benefits including a 15% discount at all Axis Bank's partner restaurants.
7. Account holders have a daily cash withdrawal limit of Rs.40,000 and a daily purchase limit of Rs.1 lakh. The bank also allows free unlimited cash withdrawals at Axis Bank and other bank ATMs.
8. Axis Bank has a Family Banking Program for family members of Defence Salary Account holders. The bank allows account holders to enrol up to 3 family members in the program which extends all the benefits of the Defence Salary Account to the family members.
9. The family account can be held under a name chosen by the account holder and permits the account holder to choose the type of savings account which would best benefit the family members.
10. The Family Banking Program also give account holders other benefits such as discounts on the bank's Demat and locker services, and the opportunity to earn Axis eDGE rewards collectively.
11. Account holders have added security benefits to themselves and their account under the bank's insurance covers.
12. The bank offers account holders insurance coverage of up to Rs.30 lakh for any personal accidents that result in the death of the account holder.
13. Account holders also have an insurance cover up to Rs.1 crore for air accidents that result in the death of the account holder. This cover is extended when the account holder uses their Axis Bank debit card to purchase air tickets.
14. The bank provides the account holder with purchase protection up to Rs.50,000 for any damage or theft of durable consumer goods purchased with an Axis Bank debit card.
15. The account holder is also insured against any risk due to loss or theft of their debit card.