Axis Bank Liberty Debit Card – Benefits, Fees & Eligibility

Introduction

The Liberty Debit Card, issued by Axis Bank, is designed for customers holding Liberty Savings Accounts or Liberty Salary Accounts. It offers a compelling suite of benefits, including a significant 5% cashback on weekend spends across food, entertainment, shopping, and travel categories, coupled with higher daily transaction limits and extensive insurance coverage. This card aims to provide enhanced convenience and value for its target segment.

Welcome Benefits

• No specific welcome vouchers or one-time issuance perks are mentioned beyond the ongoing benefits.

Transaction Limits & Usage

• Daily ATM Withdrawal Limit: ₹50,000
• Daily Purchase Limit (POS/Online): ₹3,00,000
• Minor Accounts - Daily ATM Withdrawal Limit: ₹5,000
• Minor Accounts - Daily Purchase Limit: ₹10,000
• Contactless Payment Limit: Up to ₹5,000 per transaction.
• International Usage: The card allows transactions across the world. This service can be enabled through a Branch, Axis Bank Mobile App, or Internet Banking.
• International Usage Restriction: International transactions are not allowed for NRO customers.
• PIN Generation: Debit Card PIN can be generated anytime through Axis Bank ATM, Phone Banking, Axis Mobile App, or Axis Internet Banking.
• Instant Alerts: Receive instant SMS alerts for cash withdrawals, balance inquiries, debit/credit alerts, and transaction details.
• Card Blocking: In case of compromise or suspected misuse, the card can be instantly blocked by SMSing ‘BLOCKCARD ’ to 5676782, calling Emergency Helpline Number +91-22-67987700 or toll-free 1800-103-5577, or through Internet Banking/Axis Bank Mobile App.

Fees and Charges

• Debit Card Variant: Liberty Debit Card
• Network: VISA
• Joining/Issuance Fees: ₹200 + GST
  • Nil for Liberty Salary Accounts.
• Joint Holder Joining/Issuance Fees: ₹200 + GST
• Annual Fees: ₹300 + GST
  • Nil for Liberty Salary Accounts.
• Joint Holder Annual Fees: ₹300 + GST
• Replacement Fees: ₹200 + GST
• Virtual Debit Card: Not available.
• Domestic ATM Cash Withdrawal Charges: ₹23 (applicable beyond the set free limit).
• Domestic ATM Non-Financial Transaction Charges: ₹10 (applicable beyond the set free limit).
• International ATM Cash Withdrawal Charges: ₹125
• International ATM Non-Financial Transaction Charges: ₹25
• 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.
• GST: Applicable on all mentioned fees & charges.

Rewards & Offers

• FEST Cashback Benefit:
  • Enjoy 5% weekend cashback on Food, Entertainment, Shopping, and Travel spends.
  • Cashback is applicable on transactions done on Saturday and Sunday.
  • No minimum transaction size required.
  • Maximum total applicable cashback amount is ₹500 per month across all categories.
  • Maximum total applicable cashback amount is ₹1,000 on birthday month.
  • This offer is applicable only for Liberty (SBLBR, SBLSN) or Liberty Salary Account (SALBR, DALBR) customers who have a linked Liberty Debit Card.
• EDGE REWARDS Points:
  • Earn 1 EDGE REWARDS Point for every ₹200 spent on domestic and international transactions.
  • The Axis Bank Edge rewards structure on Debit cards was revised effective 15th June 2022.
• Airport Lounge Access:
  • Enjoy 1 complimentary visit per quarter at specified airport lounges across India.
  • Lounge access is available exclusively for Liberty Salary customers.
  • Access to complimentary domestic airport lounge will be based on a minimum eligible spend of ₹5,000 in the previous 3 calendar months.
  • For newly issued Debit Cards, the minimum spend criteria is waived for the month of issuance as well as for the following 3 months.
• Insurance Cover:
  • Personal Accident Insurance Cover: ₹5 lakh
  • Air Accident Cover: ₹1 crore
  • Purchase Protection Cover: Up to ₹50,000
  • Price Protection Cover: Up to ₹50,000
  • Insurance on baggage loss/checked-in baggage, and baggage delay: Up to 500 USD.

Account & Eligibility Criteria

• Eligibility: Liberty Debit Card is exclusively designed for customers in the Liberty Segment.
• Linked Accounts: The cashback offer is applicable only for Liberty (SBLBR, SBLSN) or Liberty Salary Account (SALBR, DALBR) customers who have a linked Liberty Debit Card.

Debit Card Review

The Liberty Debit Card from Axis Bank is a strong contender for individuals who hold a Liberty Savings or Salary Account and frequently engage in weekend spending on food, entertainment, shopping, and travel. Its standout feature is the 5% cashback, which can amount to a significant saving of up to ₹500 monthly (or ₹1,000 in the birthday month). The card also offers robust insurance coverage, including personal accident, air accident, purchase protection, and baggage loss, providing a sense of security. Higher transaction limits for both ATM withdrawals and purchases add to its convenience. For Liberty Salary Account holders, the complimentary quarterly lounge access is a valuable perk. However, non-salary account holders will incur an annual fee and issuance fee. International transactions come with a cross-currency markup and DCC fee. Overall, it's a highly beneficial card for its target audience, especially those who can maximize the weekend cashback and utilize the insurance and lounge benefits.

Important Product Details

• Card Name: Liberty Debit Card
• Issuing Bank: Axis Bank
• Network: VISA
• Key Highlights (Positive):
  • 5% cashback on weekend spends (Food, Entertainment, Shopping, Travel) up to ₹500/month (₹1,000 in birthday month).
  • High daily purchase limit of ₹3 lakh and ATM withdrawal limit of ₹50,000.
  • Comprehensive insurance coverage including ₹5 lakh personal accident, ₹1 crore air accident, and up to ₹50,000 purchase/price protection.
  • 1 complimentary domestic airport lounge visit per quarter for Liberty Salary customers (with spend criteria).
  • International transaction capability.
  • Contactless payment facility up to ₹5,000.
• Key Highlights (Negative):
  • Joining and Annual Fees (₹200+GST and ₹300+GST respectively) apply for non-salary accounts.
  • Lounge access is exclusive to Liberty Salary customers and requires a minimum spend of ₹5,000 in the previous quarter.
  • Cross-currency mark-up of 3.5% and 1% DCC markup on international transactions.
  • ATM usage charges apply beyond free limits.
  • Virtual Debit Card is not available.

Other Details

• Contactless Payments: Enjoy the convenience of contactless payments with an increased payment limit up to ₹5,000.
• SMS Alerts: The SMS alerts facility sends instant alerts each time the debit card is used to withdraw cash, along with other important information like balance inquiry, debit/credit alerts, and transaction details.
• Terms & Conditions Updates: Terms and conditions on the Axis Bank Debit Card were updated effective 1st May 2024.
• EDGE REWARDS Revision: Axis Bank Edge rewards structure on Debit cards was revised effective 15th June 2022.
• Legal Disclaimer Summary: Users are advised not to use their Debit Card or online banking for collecting/effecting/remitting payments directly/indirectly outside India towards overseas foreign exchange trading through electronic/internet trading portals, as this may contravene FEMA, 1999 and KYC/AML regulations, as per RBI Circular: A.P. (DIR Series) Circular No. 46 dated Sep 17, 2013.