Axis BankAxis Bank Business Classic Debit Card – Benefits, Fees & Eligibility
Is the Axis Bank Business Classic Debit Card Right for You?
The Axis Bank Business Classic Debit Card is best suited for users who prioritize Business, Dining, Shopping. With a joining fee of ₹250 + GST and a renewal fee of ₹250 + GST, this card is positioned for cardholders who can maximize its benefits to justify the cost. It offers Not Applicable as its primary reward mechanism.
Key Card Details
₹250 + GST
₹250 + GST
Not Applicable
3.5% on international transactions; 1% + GST DCC markup.
Notable Perks
Insurance Coverage
₹2 Lakhs Personal Accident, ₹50,000 Purchase Protection, ₹1 Crore Air Accident cover.
Dining Benefits
Minimum 15% and up to 20% off at over 5,000 partner restaurants in India.
Things to Consider
The card incurs both issuance and annual charges, adding to the cost.
High cross-currency markup of 3.5% on international transactions.
No free transactions are allowed at other domestic bank ATMs.
Benefits & Features
Reward Type
Not Applicable
Insurance Coverage
₹2 Lakhs Personal Accident, ₹50,000 Purchase Protection, ₹1 Crore Air Accident cover.
Dining Benefits
Minimum 15% and up to 20% off at over 5,000 partner restaurants in India.
What matters, explained clearly
Introduction
The Axis Bank Business Classic Debit Card is designed for self-employed individuals to efficiently manage their business transactions. Positioned as a business-focused debit card, it offers enhanced daily transaction limits, comprehensive insurance coverage of up to ₹2 Lakhs, and attractive dining discounts. A unique feature is the option to personalize the card with a company name, brand logo, or designation.
Fees
- Issuance Charges: ₹250
- Annual Charges: ₹250
- Replacement Charges: ₹200
- Duplicate PIN: ₹100
- Domestic Cash Withdrawal (Axis Bank ATMs): Nil
- Domestic Balance Inquiry (Axis Bank ATMs): Nil
- Free Other ATM Transactions allowed per calendar month: 0
- Domestic Cash Withdrawal Charge at other ATMs: ₹23 per transaction
- Domestic Balance Inquiry Charge at other ATMs: ₹10 per transaction
- International Cash Withdrawal: ₹125 per transaction
- International Balance Inquiry: ₹25 per transaction
- Cross-Currency Mark-up: 3.5% will be levied on all international cash withdrawal and purchase transactions.
- Dynamic Currency Conversion (DCC) Markup Fee: 1% plus GST will be applicable.
- Goods and Services Tax (GST): Applicable on all the above fees.
- Annual Fee Pro-rata: Annual fees will be charged to customers whose cards are closed before the end of the card year on a pro-rata basis.
Rewards
- Dining Delights: Enjoy a minimum discount of 15% and up to 20% off at over 5,000 partner restaurants in India.
- Insurance Cover: Complimentary insurance protection is provided, subject to at least one POS/Ecom transaction in the last 90 days from the date of loss.
- Personal Accident Insurance: Compensation of ₹2 Lakhs for loss of life of the cardholder due to an accident as defined by IRDA (Death only cover, natural deaths or deaths due to disease are excluded).
- Purchase Protection Cover: Covers loss of consumer durable goods purchased through the Business Classic Debit Card for 90 days from the date of purchase, against losses from Fire & Burglary from residential premises, up to ₹50,000. Handheld devices are excluded.
- Air Accident Cover: Compensation of ₹1 Crore in the event of death due to a commercial airplane crash.
- Free Domestic Axis Bank ATM Usage: Unlimited free domestic usage across any Axis Bank ATMs in India.
Card Eligibility Criteria
- Eligibility: The Business Classic Debit Card is issued to all eligible Current Account holders.
- Application Process: Can be applied for online or by visiting the nearest Axis Bank branch.
- Documentation: Proper documentation along with a complete application form is required for a smooth application process.
Important Product Details
- High Transaction Limits:
- Daily cash withdrawal limit: ₹40,000
- Daily purchase limit: ₹1 Lakh (For cards issued w.e.f. 20th Feb 2019, the enhanced domestic purchase limit is ₹2 Lakh).
- Insurance Protection: Complimentary insurance cover including Personal Accident, Purchase Protection, and Air Accident.
- Dining Benefits: Up to 20% off at partner restaurants.
- Card Personalization: Option to personalize the Debit Card with a company name, brand logo, or designation.
- Free ATM Usage: Unlimited free domestic usage at Axis Bank ATMs.
- Instant SMS Alerts: Receive instant alerts for cash withdrawals and other important information.
Other Details
- SMS Alerts Facility: Sends instant alerts each time the debit card is used to withdraw cash and provides other important information via SMS.
- Disclaimer on Foreign Exchange Trading: Cardholders are advised not to use their Debit Card or online banking facility for collecting and effecting/remitting payments directly/indirectly outside India for overseas foreign exchange trading through electronic/internet trading portals, as this may lead to contravention of FEMA, 1999 and KYC/AML regulations.
- Terms & Conditions: Guidelines for responsible Debit Card usage and maximizing benefits are available.
- Important Links: Access to Debit Card Authentication, Debit Card Protection, Debit Card Benefits, and Terms & Conditions.
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