Axis Bank Infinity Savings Account Fees and Details: Axis Bank has launched a first-of-its-kind new savings account – ‘Infinity Savings Account. Check details
Axis Bank Infinity Savings Account Fees and Details: Axis Bank has launched a first-of-its-kind new savings account – ‘Infinity Savings Account’ – with an aim to cater to digitally savvy customers, who are frequent adopters of subscription-based models.
In a statement, Axis Bank said this innovative savings account offers customers with exclusive privileges, such as waived Average Monthly Balance (AMB) requirement, complimentary debit cards and waiver of all domestic charges. However, to avail these benefits, there is a catch. The bank will charge a fixed monthly or annual fee.
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The monthly fee for ‘Infinity Savings Account’ is Rs 150 and the annual fee is Rs 1650, as per the statement.
Axis Bank further said that the new savings account variant has been introduced with the aim of revolutionizing the banking experience.
Customers can open Infinity Savings Account in a completely digital manner through Video KYC process. The bank offers two subscription-based flexible plans – Monthly and Annual. The monthly plan is charged at Rs 150 (inclusive of GST) and has a minimum subscription period of 6 months. After the initial 6 months, the plan continues on a 30-day cycle, with Rs 150 deducted every 30 days.
The annual plan is charged at Rs 1650 (inclusive of GST) and offers Infinity benefits for 360 days. The plan is automatically renewed after this period.
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This savings account may benefit customers seeking a worry-free banking experience by eliminating all domestic charges, ensuring transparent banking at its finest.
The bank said this savings produc redefines transparency in banking by providing customers with unlimited access to any ATM across the country and the flexibility to maintain any balance, free from concerns about additional charges.
It will further offer a host of additional benefits such as cashback on Axis Bank Grab Deals platform, which has 30+ partners such as Amazon, Flipkart and Myntra among others. Moreover, customers will also get 1% cashback on all transactions made using the E Debit Card, along with all other Debit card linked benefits, such as Rs 500 Grab Deals voucher on Debit Card usage within 30 days, 15% Off upto Rs 500 at Easy Diner with Online Rewards Card and much more.
“We have been continuously working on innovation-led models to re-define the role we can play in the life of our customers, by elevating digital banking to new domains of customer engagement. By incorporating the principles of subscription-based models, we aim to provide our customers with a transformative banking experience, aligning with the evolving preferences and expectations of today’s consumers,” said Ravi Narayanan, Group Executive and Head, Branch Banking, Retail Liabilities and Products, Axis Bank.
“Customers can choose to subscribe to the savings account and not worry about fees charged for services or maintaining minimum balances. This unique offering echoes our belief that banking should be effortless, flexible, and address the evolving needs of the customers,” he added.
The above content is based on a press release shared by Axis Bank. Please contact the bank for any queries releated to Infinity Savings Account.
