Axis Bank Mastercard Premium Debit Card – Benefits, Fees & Eligibility

Introduction

The Mastercard Premium Debit Card, issued by Axis Bank, is designed for customers holding EASY Salary (SAPPR) or Bharat Banking Sahaj (BBBSA) accounts. It offers a seamless and rewarding payment experience with high transaction limits, a comprehensive insurance package, and the opportunity to earn Edge Rewards points on eligible spends. A key differentiating benefit includes complimentary airport lounge access for EASY Salary customers, making it a valuable choice for both daily transactions and premium usage.

Transaction Limits & Usage

• Daily cash withdrawal limit: ₹40,000.
• Daily purchase limit: ₹3,00,000.
• For minor accounts, the maximum daily cash withdrawal limit is ₹5,000 and the daily purchase limit is ₹10,000.
• Contactless payment limit: up to ₹5,000 per transaction.
• International usage is available and can be enabled through a Branch, Axis Bank Mobile App, or Internet Banking.

Fees and Charges

• Joining/Issuance Fees

  • ₹200 + GST.
  • Nil for EASY Salary (SAPPR) accounts.
  • ₹250 + GST for Bharat Banking Sahaj (BBBSA) accounts.

• Joint Holder Joining/Issuance Fees

  • ₹200 + GST.
  • ₹250 + GST for Bharat Banking Sahaj (BBBSA) accounts.

• Annual Fees

  • ₹200 + GST.
  • ₹100 + GST for Bharat Banking Sahaj (BBBSA) accounts.

• Joint Holder Annual Fees

  • ₹200 + GST.
  • ₹100 + GST for Bharat Banking Sahaj (BBBSA) accounts.

• Replacement Fees

  • ₹200 + GST.

• Domestic ATM Charges

  • Cash withdrawal charges: ₹23 (applicable beyond the set free limit).
  • Non-financial transaction charges: ₹10 (applicable beyond the set free limit).

• International ATM Charges

  • Cash withdrawal charges: ₹125.
  • Non-financial transaction charges: ₹125.

• Foreign Currency Markup

  • A cross currency mark-up of 3.5% will be levied on all international cash withdrawal and purchase transactions.
  • A Dynamic Currency Conversion (DCC) markup fee of 1% plus GST will be applicable.

Rewards & Offers

• eDGE Loyalty Rewards

  • Earn 1 point for every ₹200 spent through the card at merchant outlets.
  • Points can be redeemed from the eDGE Loyalty Rewards Catalogue.
  • Exclusions (effective November 1, 2017): Reward Points will not be earned on certain merchant categories including Charities, Mutual Funds, Telecom, Education, Utilities, Government/Insurance, Public Sector Life Insurance, Purchase of foreign currency, Post Office, Fuel, and Transportation.

• Complimentary Airport Lounge Access

  • Enjoy 1 complimentary lounge access per quarter at select airports.
  • This offer is valid only for EASY Salary (SAPPR) customers.

• Insurance Coverage

  • Personal accident insurance cover up to ₹3,00,000.
  • Air Accident insurance cover up to ₹1 Crore.
  • Price Protection up to ₹50,000.
  • Purchase Protection up to ₹50,000.
  • Insurance on Baggage Loss/Checked in baggage, and Baggage Delay up to 500 USD.
• Mastercard Offers: Cardholders can enjoy attractive offers from Mastercard.
• Instant Alerts: Receive SMS alerts for cash withdrawals, balance inquiries, debit or credit alerts, and transaction details.

Account & Eligibility Criteria

• The Mastercard Premium Debit Card is the default debit card for customers opening EASY Salary (SAPPR) or Bharat Banking Sahaj (BBBSA) accounts.
• Customers automatically receive this card as part of the onboarding process upon account opening.

Debit Card Review

The Mastercard Premium Debit Card from Axis Bank is a robust offering, particularly beneficial for customers with EASY Salary (SAPPR) or Bharat Banking Sahaj (BBBSA) accounts. Its high transaction limits for both ATM withdrawals and purchases cater to users requiring flexibility in their daily spending. The comprehensive insurance package, including personal accident, air accident, price, and purchase protection, adds significant value and security. For EASY Salary customers, the added perk of complimentary airport lounge access enhances its appeal for frequent travelers. While it offers eDGE Loyalty Rewards, users should be aware of the specific merchant categories excluded from earning points. The card's fees are waived or reduced for specific account types, making it a cost-effective choice for eligible customers. Overall, it is a strong contender for individuals seeking high limits, extensive insurance, and targeted lifestyle benefits.

Important Product Details

• Network: Mastercard.
• Personalised Card: Features a contactless payment option for secure tap-and-pay transactions up to ₹5,000.
• International Debit Card: Allows transactions across the world.
• PIN Generation: Easily generate your Debit Card PIN anytime at an Axis Bank ATM or by calling Axis Bank phone banking.
• Instant Card Blocking: In case of loss, theft, or suspected misuse, the card can be immediately blocked via SMS (‘BLOCKCARD ’ to 5676782 or +919717000002 for NRI customers), Emergency Helpline Number (+91-22-67987700), Customer Care Number (1860-419-5555/1860-500-5555), or by logging into Internet Banking.

Other Details

• The Axis Bank Edge rewards structure on Debit cards was revised effective June 15, 2022.
• Terms and conditions on Axis Bank Debit Cards will be updated effective May 1, 2024.
• A disclaimer advises against using the Debit Card or online banking for collecting/remitting payments directly/indirectly outside India for overseas foreign exchange trading through electronic/internet trading portals, citing potential contravention of the Foreign Exchange Management Act (FEMA), 1999, and Know Your Customer (KYC)/Anti Money Laundering (AML) regulations.
• General terms and conditions apply to all benefits and features.