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Axis Insta Easy Credit Card

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Axis Insta Easy Credit Card

Bank Name :

Axis Bank

प्रकार

Rewards Credit Card

ब्याज दर

2.50% per month (APR) of 30%.

पात्रता

The applicant must be above 18 years of age.
The applicant must have a fixed deposit account with Axis Bank with a minimum deposit of Rs. 20,000 and a maximum deposit of Rs. 25 Lakhs.

Axis Insta Easy Credit Card
पेशेवरों

  • Welcome Benefits: Users will get 10,000 EDGE reward points on the first transaction, equivalent to ₹100 worth of rewards or vouchers.

  • Reward System: 1 reward point can range from Rs. 0.25 to Rs. 0.50. Users will earn 6 reward points for every Rs. 200 spent on domestic transactions. Effective cashback rate: 0.75% to 1.5%. Users will earn 12 reward points for every Rs. 200 spent on international transactions. Effective cashback rate: 1.5% to 3%. Users will get 100 bonus points on the first online transaction with the card.

  • Guaranteed approval: Since it's backed by an FD, getting approved is almost certain, even for individuals with limited credit history.

  • No annual fee: This card has no annual fee, making it a potentially cost-effective option for basic use.

  • Flexible credit limit: You can get a credit limit of up to 80% of the principal amount of your FD, providing some spending power.

  • Cash withdrawal facility: Access up to 100% of your credit limit as cash, though with applicable cash advance charges.

दोष

  • Low rewards: The reward program offers only 6 points per Rs. 200 spent, translating to a meagre redemption value compared to other cards.

  • Fixed deposit requirement: You need to hold an FD with Axis Bank to be eligible, potentially limiting your flexibility with funds.

  • Foreign exchange markup: Transactions in foreign currency incur a 3.5% + service tax markup, making it expensive for international use.

  • Limited benefits: Compared to other credit cards, the Insta Easy offers fewer benefits like dining discounts, travel privileges, or airport lounge access.

  • High cash advance charges: Cash withdrawals attract a 2.5% charge (domestic) or 3% (international) on top of applicable interest, making it a costly option.

  • Potential credit score impact: Overspending and not properly managing the card could negatively impact your credit score.

पक्ष विपक्ष
Welcome Benefits

10,000 EDGE reward points on the first transaction, equivalent to ₹100 worth of rewards or vouchers.

पुरस्कार प्रणाली

  • 1 reward point can range from Rs. 0.25 to Rs. 0.50

  • Users will earn 6 reward points for every Rs. 200 spent on domestic transactions. Effective Cashback Rate: 0.75% to 1.5%

  • Users will earn 12 reward points for every Rs. 200 spent on international transactions. Effective cashback rate: 1.5% to 3%

  • Users will get 100 bonus points on the first online transaction with the card.

अंतर्राष्ट्रीय विदेशी मुद्रा मार्कअप

Up To: 3.50%

स्वागत लाभ और पुरस्कार प्रणाली
विशेष लक्षण

Approval is linked to your existing FD with Axis Bank and doesn't rely on your credit score.

Eligibility Criteria

The applicant must be above 18 years of age.
The applicant must have a fixed deposit account with Axis Bank with a minimum deposit of Rs. 20,000 and a maximum deposit of Rs. 25 Lakhs.

फ़ायदे

  • Guaranteed Issuance: This card guarantees approval against a Fixed Deposit (FD) held with Axis Bank. No income proof is needed, making it accessible to individuals with limited credit history.

  • The card also provides a flexible credit limit. 

  • Free Movie Tickets: Receive complimentary movie tickets with specific annual spends (check bank website for details).

  • Up to 4 Add-on Cards: Get additional cards for family members at no extra cost.

विशेष विशेषता, पात्रता और लाभ
क्रेडिट कार्ड के लिए आवेदन कैसे करें?

  1. Eligibility: At least 18 years old with a valid PAN card.

  2. Documents Required:Photo ID proof (Aadhaar card, driving license, etc.)
    Address proof (utility bill, rental agreement, etc.)
    Fixed Deposit details with Axis Bank

  3. Application Methods:Online: Visit the Axis Bank website and fill out the application form.
    Offline: Visit your nearest Axis Bank branch and submit the required documents.

खाता खोलने की प्रक्रिया और प्रक्रिया

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विशेष विशेषता, पात्रता और लाभ

Pros:-

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Cons:-

  • Welcome Benefits: Users will get 10,000 EDGE reward points on the first transaction, equivalent to ₹100 worth of rewards or vouchers.

  • Reward System: 1 reward point can range from Rs. 0.25 to Rs. 0.50. Users will earn 6 reward points for every Rs. 200 spent on domestic transactions. Effective cashback rate: 0.75% to 1.5%. Users will earn 12 reward points for every Rs. 200 spent on international transactions. Effective cashback rate: 1.5% to 3%. Users will get 100 bonus points on the first online transaction with the card.

  • Guaranteed approval: Since it's backed by an FD, getting approved is almost certain, even for individuals with limited credit history.

  • No annual fee: This card has no annual fee, making it a potentially cost-effective option for basic use.

  • Flexible credit limit: You can get a credit limit of up to 80% of the principal amount of your FD, providing some spending power.

  • Cash withdrawal facility: Access up to 100% of your credit limit as cash, though with applicable cash advance charges.

  • Low rewards: The reward program offers only 6 points per Rs. 200 spent, translating to a meagre redemption value compared to other cards.

  • Fixed deposit requirement: You need to hold an FD with Axis Bank to be eligible, potentially limiting your flexibility with funds.

  • Foreign exchange markup: Transactions in foreign currency incur a 3.5% + service tax markup, making it expensive for international use.

  • Limited benefits: Compared to other credit cards, the Insta Easy offers fewer benefits like dining discounts, travel privileges, or airport lounge access.

  • High cash advance charges: Cash withdrawals attract a 2.5% charge (domestic) or 3% (international) on top of applicable interest, making it a costly option.

  • Potential credit score impact: Overspending and not properly managing the card could negatively impact your credit score.

The Axis Insta Easy Credit Card shines for building credit and offering flexibility, especially with its high cash withdrawal limit. However, the interest rate and cash withdrawal charges are significant considerations. Frequent spenders, especially travelers, might benefit more from cards with higher rewards and wider network acceptance.

Axis Insta Credit Card

Abhijeet Saxena

Abhijeet Saxena

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

उत्पाद समीक्षा
फीस एवं प्रभार

  • Joining Fees: INR 3000

  • Finance Charges: 3.6% per month (52.86% p.a.) on purchases and cash advances.

  • Late Payment Charges: Up to Rs. 1,200 based on outstanding amount:Nil for amount less than Rs. 300.
    Rs. 100 for Rs. 301 to Rs. 500.
    Gradual increase up to Rs. 1,200 for amounts exceeding Rs. 50,000.

  • Cash Withdrawal Charges: 2.5% (minimum Rs. 500) of the amount withdrawn.

  • Overlimit Penalty: 2.5% of over the limit amount (minimum Rs. 500).

  • Cash Payment Fee: Rs. 100 for converting outstanding dues to cash.

  • Foreign Currency Transaction Fee: 3.50% of the transaction value.

ईंधन अधिशुक्ल

1% fuel surcharge waiver on fuel transactions in India.

Billing Cycle

30 Days

फीस एवं प्रभार
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