The Axis Bank Liberty Savings Account stands out by offering customers the choice to either maintain a monthly average balance or spend a specified amount, coupled with attractive benefits like cashback and gift vouchers.
Key Features & Benefits
1. Flexible Balance or Spend Requirement
Customers can choose to:
- Maintain a Monthly Average Balance (MAB) of ₹25,000, or
- Spend ₹25,000 in a month through the account.
This flexibility ensures that customers can manage their finances according to their preferences.
2. Liberty Debit Card Perks
- 5% Cashback on weekend spends (Saturday and Sunday) across:
- Food
- Entertainment
- Shopping
- Travel
- Cashback Limits:
- Up to ₹500 per month.
- Up to ₹1,000 during the customer’s birthday month.
- Additional Benefits:
- Daily ATM withdrawal limit of ₹50,000.
- Shopping limit of ₹3 lakhs.
- Up to 15% discount at over 10,000 partner restaurants across India.
- Earn 1 EDGE reward point for every ₹200 spent (capped at 1,000 points per month).
3. Quarterly Gift Vouchers
Spend ₹60,000 in a financial quarter to receive a ₹750 gift voucher. Choose from popular brands like Amazon, Ola, Croma, Lifestyle, and Spencers.
4. Annual Savings Worth ₹15,000
By leveraging the account’s benefits, customers can save up to ₹15,000 annually through:
- Weekend cashback: ₹6,000
- Dining discounts: ₹4,800
- Banking privileges: ₹2,820
- Quarterly gift vouchers: ₹1,500
5. Complimentary Banking Privileges
- Free unlimited online NEFT and RTGS transactions.
- Personal Accident Cover up to ₹5 lakhs.
- Air Accident Cover of ₹1 crore.
Fees & Charges
- Non-maintenance Fee: If neither the MAB nor the monthly spend criteria are met, a fee of ₹6 per ₹100 shortfall (maximum ₹600) is applicable.
- Debit Card Fees:
- Issuance: ₹200 + GST.
- Annual: ₹300 + GST.
How to Open an Account
Online:
- Visit the Axis Bank Liberty Savings Account page.
- Click on “Apply Now” and follow the on-screen instructions.
- Complete the Video KYC process.
- Fund the account with the initial deposit.
Offline:
- Visit the nearest Axis Bank branch with the necessary documents and complete the account opening formalities.
Conclusion
The Axis Bank Liberty Savings Account offers a blend of flexibility and rewards, catering to the diverse needs of modern customers. With benefits like cashback, gift vouchers, and comprehensive banking privileges, it’s an ideal choice for those seeking more from their savings account.
Note: For detailed terms and conditions, please refer to the official Axis Bank Liberty Savings Account Terms & Conditions.
