Axis Bank Introduces 'Infinity Savings Account' With No Domestic Transaction Fees
Axis Bank has unveiled a savings account variant called the 'Infinity Savings Account'. This offering is specifically tailored for digitally astute customers who frequently embrace subscription-based models.
The 'Infinity Savings Account' brings exclusive privileges to Axis Bank's customers. It abolishes the requirement for an Average Monthly Balance (AMB), offers complimentary debit cards, and eliminates all domestic charges. To access these benefits, customers simply need to subscribe to the account and pay a modest monthly recurring fee of Rs 150 or an annual fee of Rs 1650.
Ravi Narayanan, Group Executive & Head of Branch Banking, Retail Liabilities, and Products at Axis Bank, emphasised the bank's commitment to redefining customer engagement by integrating innovation-led models. The subscription-based approach aligns with the evolving expectations of today's digitally-inclined consumers, providing them with an effortless and flexible banking experience.
Opening the 'Infinity Savings Account' is entirely digital, facilitated by the Video KYC process. This account introduces two subscription-based plans - Monthly and Annual. The Monthly plan, priced at Rs 150 (inclusive of GST), comes with a minimum subscription period of 6 months. After the initial 6 months, the subscription continues on a 30-day cycle, deducting Rs 150 every 30 days. The Annual plan, costing Rs 1650 (inclusive of GST), extends Infinity benefits for 360 days and automatically renews afterward.
This product aims to offer a worry-free experience, eradicating domestic charges, and ensuring utmost transparency.
Features of Axis Bank's 'Infinity Savings Account':
