Product Details
Bank Name
Axis Bank
Account Name
Axis 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
Account Opening Fees
Debit Card Charges
NIL
Annual Maintenance Fees
NEFT Charges
Free online
Minimum Account Balance
IMPS Charges
Free online
Fees and Charges of
Axis Defence Salary Account
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 of
Axis Defence Salary Account
Pros & Cons of
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.
Axis Defence Salary Account
The account comes loaded with a number of value add features. However, the account offers low interest rate. It can be considered by individuals who are looking for a good package of value add features.
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Review of
Axis Defence Salary Account
Account Opening and Procedure of
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
Axis Defence Salary Account
About this content
Public source: Original MyRupaya page
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