Things to know about Axis Bank Liberty Savings Account | Fusion - WeRIndia

Axis Bank launched a new savings account, Axis Liberty Savings account. It allows the customers to maintain a monthly average balance of ₹25,000 or spend ₹25,000 from their Savings Account in a month.

That means if you spend ₹25,000 in a month from an account, then there is no need to maintain a minimum balance in that account.

You can spend online and offline. Merchant payments also include in this. You can receive flat 5% or up to ₹500 cashback in a month on weekend spends. It is up to ₹1,000 in customer’s birthday month.

It offers a complimentary hospital cash insurance cover of up to ₹20,000 per year. It covers hospital expenses incurred under COVID-19 as well.

It offers annual savings worth ₹15,000. It also provides four complimentary airport lounge access in a year.

Daily ATM withdrawal limit is ₹50,000 and shopping limit is ₹3 lakhs.

It offers up to 20 per cent discount in over 4000 restaurants across the country. It also provides quarterly gift voucher worth ₹750 on your spends of ₹60,000 in stores including Amazon, Big Bazaar, Ola etc.

An individual residing in India or a Hindu Undivided Family (HUF) is eligible to open a Liberty Savings Account. Joint applicants can also apply for this account.

The documents vary for each of the above. All the applicants shall have to provide proof of identity. However, for joint applications, address proof of the first account holder is enough, if the relationship proof between both holders is shown.

Certain charges may apply for this account. However, they are disclosed upfront, so you know how much are you paying and why is the amount charged.

Image Credit: Axisbank Website Screenshot

Image Reference: https://www.axisbank.com/retail/accounts/savings-account/liberty-savings-account/