Axis Bank Senior Privilege Savings Account

Axis Bank Senior Privilege Savings Account scheme focuses on the senior citizens of India, giving them a chance to open a savings account after retirement. It is only applicable for Indian citizens of age 57 years and above. It requires a quarterly balance of Rs 10,000 as the minimum balance for opening an account in this scheme. Also, it offers Axis Bank Classic Debit Card powered by VISA.

Axis Bank Senior Privilege Savings Account services:

  • The cash withdrawal facility is available with this type of account.
  • The passbook facility is provided, but only on request.
  • The subscriber is provided with one multi-city cheque-book in every three months.

Axis Bank Senior Privilege Savings Account features:

  • The account holder can withdraw Rs 50,000 daily.
  • It benefits with the easement of functions like paying bills. By registering, the account holder gets the privilege of paying the utility bills like water, electricity and gas along all the Axis Bank branches.
  • One can get up to 20% to 60% off on regular check-ups at the hospitals. Also, buying medicines has also become cheaper with it providing 15% off on purchase made at Apollo Pharmacies.
  • Axis Bank has partnered with some of the healthcare centers where this scheme holder gets a special ID card for emergencies to avail discount on medical expenses.
  • Purchases made on shopping and other purposes will earn the subscriber reward points.
  • The account holder can be benefitted with Rs 2 Lakhs as an insurance cover. It only requires swiping the card every six months.
  • The account holder can transact the maximum amount of Rs 100,000 daily for shopping.
  • There are over 2300 Axis Bank branches all over the country coupled with 11,500 Axis Bank ATMs.

Fees and Additional Charges:

  • For issuing an Axis Bank VISA Classic Debit Card, one has to pay Rs 150.
  • Axis Bank VISA Classic Debit Card annual fee is Rs 150 in urban area and Rs 100 in rural areas.
  • Issuing PIN and CHIP card, it costs the original card issuance fee with an additional Rs 50.
  • The outstation cheque collection charges vary amount to amount;
    • If the cheque value is Rs 5000, Rs 25 per cheque is charged.
    • If the cheque values between Rs 5001 to Rs 10,000, Rs 50 per cheque is charged.
    • If the cheque values between Rs 10,000 to Rs 1 Lakhs, Rs 100 per cheque is charged.
  • The cash transaction charges vary beyond the free limit. As Rs 5 is charged per Rs 1000 or Rs 150, depending on whichever is higher.
  • Transacting from Axis or Non-Axis ATMs beyond limits will cost Rs 20 per transaction.