Axis Bank Executive Corporate Credit Card – Benefits, Fees & Eligibility

Introduction

The Axis Bank Executive Corporate Credit Card is a premium offering from Axis Bank, specifically designed for businesses to manage their corporate expenses efficiently. It provides a comprehensive suite of benefits tailored for travel, dining, and lifestyle, making it ideal for companies with significant travel and entertainment expenditures. Key differentiating benefits include complimentary domestic and international airport lounge access, VIP airport concierge services, and exclusive golf privileges, alongside a competitive rewards program for both domestic and international transactions.

Fees

• Joining Fee: ₹3,500 + applicable taxes
• Annual Fee: ₹3,500 + applicable taxes (from the 2nd year onwards)
• Spend-Based Waiver: Not applicable
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 2% of the transaction value + applicable GST
• Interest Rates: 3% of the Total Amount Due or a minimum charge of ₹350
• Fuel Surcharge Waiver: 1% of the transaction amount is refunded for fuel transactions between ₹400 and ₹4,000, with a maximum refund of ₹400 per month. No reward points are earned on fuel transactions.
• Cash Advance Charges: 2.5% of the amount withdrawn or ₹250, whichever is higher.
• Late Payment Fee: 3% of the total amount due (minimum ₹350)
• Fee for cash payment: Nil
• Card replacement fee (lost or stolen or reissue): Nil
• Duplicate statement fee: Waived
• Over limit penalty: Not applicable
• Cash limit: 30% of the overall credit limit
• Charge slip retrieval Fee or copy request fee: Waived
• Outstation cheque fee: Waived
• Cheque return or dishonor fee or auto debit reversal bank A/c out of funds: ₹100
• Surcharge on purchase or cancellation of railway tickets: As prescribed by IRCTC/Indian Railways
• Mobile alerts for transactions: Waived
• Hot listing charges: Nil
• Balance enquiry charges: Waived

Rewards

• Rewards Rate
  • Earn 4 Reward points on domestic spends of ₹200.
  • Earn 8 Reward points on international spends of ₹200.
• Movie & Dining
  • Get up to 20% discount at over 4,000 restaurants all over India.
• Travel
  • Airport Meet & Greet Services: Enjoy 3 complimentary VIP assistance services in a calendar year. Services can be booked via Axis Extraordinary Weekends at least 48 hours before the service time and are valid for domestic and international departures/arrivals at 29 airports across India. The primary cardholder can use these services for accompanying guests.
  • International Lounge Access: Enjoy 8 complimentary accesses to over 1,100 airport lounges worldwide in a calendar year for you and your accompanying guests, via LoungeKey. Access beyond the complimentary limit will be charged at USD 32-35 per person per visit. A pre-authorization of $35 per person is done to authenticate the card. Eligibility for complimentary visits is applicable upon payment of annual fees.
  • Domestic Lounge Access: Enjoy 4 complimentary accesses to domestic lounges in India each quarter. Swipe your card at eligible airport lounges. A transaction of ₹25 will be made for authentication, which will be reversed within 24 working hours. Lounge access beyond the mentioned limit will be chargeable for primary cardholders and their accompanying guests.
  • Concierge Services: Enjoy exclusive 24x7 Concierge Services for a wide range of needs including Travel Services, Shopping Services, Golfing Services, and Business Services. Book via Axis Extraordinary Weekends or call 1800 103 4962.
• Golf
  • Book up to 4 complimentary golf rounds and 1 lesson each year. Book your lesson or golf rounds on Axis Extraordinary Weekends or by calling the concierge at 1800 103 4962.
• Insurance Benefits
  • Emergency Hospitalisation: ₹5,000
  • Lost Card Liability: ₹2 Lakh
  • Medical Evacuation: ₹3,000
  • Hijack Distress Allowance: ₹1,000
  • Critical Illness: ₹10 Lakh
  • Baggage Delay (International): ₹30,000
  • Missed Connecting International: ₹30,000
  • Delay in Checking in Baggage: ₹30,000
  • Loss of Checked Baggage: ₹30,000
  • Loss of Documents (Passport/Visa): ₹10,000
  • Corporate Liability Policy: ₹2,00,000
• Other Features
  • Contactless Technology for secure and fast transactions.
  • Manage and control travel and entertainment expenses with detailed transaction information.
  • Convert purchases to EMI.

Rewards Redemption Guide

• Redeem the earned Reward Points for gift cards, stationery, electronic gadgets, lifestyle products, travel, and E-Vouchers from an exclusive reward redemption catalogue.

Card Eligibility Criteria

• Eligibility Rules
  • The minimum eligible age for this credit card is 21 years.
  • The applicant should have a stable source of income.
  • The applicant’s credit score and their business credit score might also be considered important factors.
• Documents Required
  • For credit appraisal: MOA/AOA, Audited annual reports and profit and loss statements for the last two years, Corporate PAN card.
  • Post credit appraisal: Board resolution, Corporate application form.
  • KYC of individual employees: PAN card, photo ID proof, and address proof.

Card Review

The Axis Bank Executive Corporate Credit Card is a robust offering for corporates, providing a high return on spending and a suite of luxurious benefits. It is particularly well-suited for businesses with substantial travel expenses, offering extensive airport lounge access, VIP concierge services, and golf privileges. While the annual fees are noted as slightly higher than some other business cards, the comprehensive benefits across travel, dining, and lifestyle categories, coupled with a competitive forex transaction fee and insurance coverage, generally justify the cost. The card's excellent reward rate on both domestic and international spends further enhances its value proposition for businesses looking to maximize returns on their expenditures.

Important Product Details

• Earn 4 Reward points on domestic spends of ₹200 and 8 Reward points on international spends of ₹200.
• Enjoy 3 complimentary VIP assistance services (Airport Concierge) in a year.
• Book up to 4 complimentary golf rounds or lessons in a year.
• Access 24×7 Concierge Services for various needs.
• Receive 8 complimentary accesses to international lounges (over 1,100 worldwide) in a year.
• Benefit from 4 complimentary accesses to domestic lounges in India per quarter.
• Get a 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000, capped at ₹400 per month.
• A competitive foreign currency markup fee of 2% is applicable.
• Comprehensive travel insurance benefits are included.
• Cash withdrawal facility is available up to 30% of the overall credit limit.

Other Details

• All mentioned fees and charges are subject to applicable taxes as per government norms.
• The card is designed to help provide extraordinary experiences and memories, offering unsurpassed benefits and a collection of fine privileges on travel and entertainment options, along with substantial corporate savings.
• The card allows seamless tracking of every transaction, enabling corporates to manage their travel and entertainment expenses easily.
• For any information or to apply, you can write to corporate.assist@axis.bank.in.
• The currency conversion rate for international lounge access charges is applicable as on the date of settlement and will reflect in your statement.
• Detailed Terms & Conditions for various services like Airport Concierge, Golf Program, Lounge Access, and Insurance benefits are available on the Axis Bank website and associated platforms like extraordinaryweekends.com and LoungeKey.