Axis Bank Power Salute Debit Card – Benefits, Fees & Eligibility

Introduction

The Axis Bank Power Salute Debit Card is specifically designed for defence personnel, offering a suite of benefits tailored to their needs. Linked to Power Salute accounts, this RuPay variant card provides substantial insurance coverage, including up to ₹1 Crore for air accidents and ₹2 Lakh for personal accidents, alongside high daily transaction limits. A key differentiating benefit is the waiver of issuance and annual charges for eligible Power Salute account holders, making it a cost-effective option for its target audience.

Welcome Benefits

• Issuance and annual charges are waived off for Power Salute accounts.

Transaction Limits & Usage

• Daily Cash Withdrawal Limit: ₹40,000.
• Daily Purchase Limit (POS/Online):
  • Initially ₹1 Lakh.
  • Enhanced to ₹2 Lakh for all new cards issued w.e.f. 7th November 2019 (domestic purchase limit).
• Minor Debit Card Limits:
  • Daily cash withdrawal limit: ₹5,000.
  • Purchase limit: ₹10,000.
• Contactless Payments: Enjoy increased payment limit up to ₹5,000.
• International Usage: The card allows transactions across the world. This service can be enabled through a Branch, Axis Bank Mobile App, or Internet Banking.

Fees and Charges

• Debit Card Variant: Power Salute Debit Card.
• Network: RuPay.
• Joining/Issuance Fees: ₹200 + GST. Nil for EASY Defense Accounts.
• Joint Holder Joining/Issuance Fees: ₹200 + GST.
• Annual Fees: ₹200 + GST. Nil for EASY Defense Accounts.
• Joint Holder Annual Fees: ₹200 + 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.
• Goods and Services Tax (GST): Applicable on all mentioned fees & charges.

Rewards & Offers

• Insurance Coverage:
  • Personal Accident Insurance Cover: Up to ₹2 Lakh.
  • 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.
• Airport Lounge Access:
  • Enjoy lounge access at select airports in India.
  • Complimentary lounge access is based on a spends criterion: Customer is required to spend ₹5,000 in the previous three calendar months.
  • Access is limited to 1 per quarter.

Account & Eligibility Criteria

• Target Audience: Specially crafted for defence personnel of India.
• Linked Account: Benefits are primarily for Power Salute accounts.
• Eligibility: Defence personnel are required to meet specific rank-wise eligibility criteria, typically linked to a defence salary account.
• Documentation: Certain documents are required to avail the benefits of this debit card.

Debit Card Review

The Axis Bank Power Salute Debit Card is an excellent choice for defence personnel who maintain a Power Salute account with Axis Bank. Its primary strength lies in the comprehensive insurance coverage, including high air accident and personal accident covers, along with purchase and price protection. The fee waiver for eligible accounts makes it very economical. While transaction limits are generous, international usage incurs a cross-currency mark-up and DCC fee. Lounge access is a valuable perk, though it requires a minimum spend. Overall, it offers significant value and security features for its intended users.

Important Product Details

• Card Network: RuPay.
• Key Highlights:
  • High insurance coverage: ₹1 Crore Air Accident, ₹2 Lakh Personal Accident, ₹50,000 Purchase/Price Protection.
  • Waiver of issuance and annual charges for Power Salute accounts.
  • High daily purchase limit of ₹2 Lakh (domestic) and cash withdrawal limit of ₹40,000.
  • Complimentary airport lounge access (1 per quarter, subject to spend criteria).
  • International transaction capability.

Other Details

• Debit Card PIN Generation: PIN can be generated anytime at an Axis Bank ATM or by calling Axis Bank phone banking.
• Instant Alerts: SMS alerts are sent for cash withdrawals, balance inquiries, debit/credit alerts, and transaction details.
• Card Blocking: In case of loss, theft, or suspected misuse, the card can be instantly blocked via SMS ('BLOCKCARD' to 5676782), emergency helpline (+91-22-67987700), customer care (1860-419-5555/1860-500-5555), or Internet Banking.
• Disclaimer: Users are advised not to use the Debit Card or online banking for collecting/remitting payments directly/indirectly outside India for overseas foreign exchange trading through electronic/internet trading portals, as this may contravene FEMA, KYC norms, and AML standards.