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Product Details
Bank Name

Axis Bank

Account Name

Defence Salary Account

Account Type

Salary Account

Interest Rate

Less than Rs. 50 Lakh-3.00% p.a. and Rs. 50 Lakh and up to less than Rs. 800 Crs-3.50% p.a.

Free Debit Card

Power Salute Debit Card

Defence Salary Account
Account Opening Fees

0

Annual Maintenance Fees

0

Minimum Account Balance

0

Debit Card Charges

NIL

NEFT Charges

Free online

IMPS Charges

Free online

Fees and Charges

Defence Salary Account

0
Special Features
  • Users will get Rs 1 crore air accident cover.

  • Personal accident death cover of Rs. 30 lakhs.

  • Users will get a Life Insurance worth 5 lakhs.

  • 30 Lakhs in total permanent disability benefit (In case of a personal accident).

  • Up to 30 lakhs for partial disability benefit.

  • Upfront payment of 4 lakhs towards education benefit for children up to 22 years of Defence /Paramilitary and Police personnel (as part of accidental cover) 

  • Lost card liability & purchase protection benefit of minimum ₹ 50,000.

  • Domestic airport lounge access.

Eligibility Criteria
  • This account can only be opened by a defence personnel.

Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
  • Unlimited free ATM transactions on Axis Bank and other bank ATMs.

  • Domestic airport lounge access.

  • ATM withdrawal limit of ₹ 40,000 and purchase limit of ₹ 2,00,000 on Power Salute debit card.

  • 50% waiver of foreclosure charges on Auto loans.

Cons
  • Low interest rates.

  • Eligibility criteria is not specified clearly by the bank.

Application Procedure

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Product Review
Account Opening and Procedure
How to open an Account?
  • Verify your identity using PAN and Aadhaar.

  • Provide your information.

  • Fulfill your KYC requirements through a video call.

  • Deposit funds into your account.

Application Procedure
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