Axis Bank Value Plus Debit Card – Benefits, Fees & Eligibility

Introduction

The Axis Bank Value+ Debit Card is designed for existing Axis Bank Savings or Salary Account holders, offering a blend of cashbacks, dining privileges, and complimentary movie tickets. It stands out with a special EDGE REWARD on early activation and provides high transaction limits, making it a comprehensive option for everyday spending and financial management.

Welcome Benefits

• EDGE REWARD worth ₹600 upon completion of 3 transactions in the first 60 days.

Transaction Limits & Usage

• Daily ATM withdrawal limit: ₹1 lakh
• Daily POS/online transaction limit: ₹5 lakh
• International Debit Card: Allows transactions across the world. This service can be easily enabled through the Axis Bank mobile app or by calling customer care.
• Contactless payments: Enjoy the convenience of contactless payments with an increased payment limit up to ₹5,000.
• Spend securely: The card is Chip & Pin enabled for enhanced security of transactions.

Fees and Charges

• Card Platform: Visa/Mastercard
• Issuance Fees (Primary/Joint): ₹750
• Annual Fees (Primary/Joint): ₹750
• Replacement Fee: ₹200
• 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: A 3.5% mark-up 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 Service tax (GST) will be applicable on all the above-mentioned fees & charges.

Rewards & Offers

• Activation Benefit: EDGE REWARD worth ₹600 upon completion of 3 transactions in the first 60 days.
• Complimentary Movie Tickets: Get 1 complimentary movie ticket every month (buy one, get one free) through bookings on BookMyShow.com and BookMyShow app.
• 5% Cashback on Grocery Spends:
  • Enjoy 5% cashback on your grocery spends every month.
  • Applicable only on transactions of ₹2,000 and above.
  • Maximum applicable cashback amount of ₹150 per month.
  • Cashback amount to be credited to your linked Axis Bank savings account within 90 days.
  • Applicable on all Grocery stores across India which are mapped under merchant category code (MCC) 5411.
• EDGE REWARD Points:
  • Earn 1 EDGE REWARD Point for every ₹200 spent on your Value+ Debit Card.
  • Redeem points against 500+ exciting offers spread across categories.
  • The Axis Bank Edge rewards structure on your Debit card is being revised effective June 15, 2022.
  • Terms and conditions on your Axis Bank Debit Card will be updated w.e.f. May 1, 2024.
• Dining Delights with EazyDiner:
  • Get 15% off up to ₹500 at EazyDiner with Value+ Debit Card.
  • Minimum Order Value ₹2500.
  • Valid once per card per month.
• Insurance Coverage:
  • Personal Accident Insurance Cover of ₹5 lakhs.
  • Air Accident cover of ₹1 crore.
  • Purchase Protection Cover up to ₹50,000.
  • Price Protection up to ₹50,000.
  • Insurance on Baggage Loss/Checked in Baggage/Baggage Delay up to 500 USD.

Account & Eligibility Criteria

• Eligibility for Value+ Debit Card: All Axis Bank customers who have a Savings or Salary Account are eligible.
• Exclusions: Burgundy Private, Burgundy, and Priority account holders, NRIs, as well as no-frills and basic Saving Account holders are not eligible.
• Documentation: No extra documents are required for issuing the Value+ Debit Card to existing Axis Bank account holders.
• Application: You can visit your nearest branch to apply, or do it online.

Debit Card Review

The Axis Bank Value+ Debit Card is a compelling choice for existing Axis Bank Savings or Salary Account holders who are looking for a debit card that offers significant rewards on everyday spending, coupled with high transaction limits and comprehensive insurance benefits.

• Overall Verdict: This card is well-suited for individuals who frequently spend on groceries, enjoy dining out, and watch movies, while also needing robust security and insurance coverage for their transactions. The annual fee is justified by the array of benefits for the right user.
• Pros:
  • Attractive welcome bonus with EDGE REWARD points.
  • Consistent 5% cashback on grocery spends, providing tangible savings.
  • Monthly complimentary movie tickets enhance entertainment value.
  • High daily ATM withdrawal limit of ₹1 lakh and purchase limit of ₹5 lakh offer great flexibility.
  • Extensive insurance coverage, including personal accident, air accident, purchase protection, and baggage loss, adds a layer of security.
  • Dining discounts with EazyDiner provide additional savings on meals.
  • International usage capability makes it suitable for global travel.
• Cons:
  • An issuance fee and annual fee of ₹750 each are applicable.
  • Certain Axis Bank account types (e.g., Burgundy, NRI, No-frills, Basic Savings) are explicitly excluded from eligibility.
  • The 5% cashback on groceries has a minimum transaction requirement (₹2,000) and a monthly cap (₹150).
  • International transactions incur a cross-currency mark-up of 3.5% and a DCC mark-up of 1% plus GST.
  • Domestic ATM usage charges apply beyond the free limits.
• Who should apply: This card is ideal for Axis Bank customers who maintain a Savings or Salary Account (excluding specified types) and whose lifestyle includes regular grocery shopping, movie outings, and dining. It's particularly valuable for those who can maximize the cashback and reward points, appreciate high transaction limits, and benefit from the extensive insurance protection.

Important Product Details

• Card Name: Axis Bank Value+ Debit Card
• Card Platform: Visa/Mastercard
• Positive Highlights:
  • ₹600 EDGE REWARD as an activation benefit upon completing 3 transactions in 60 days.
  • 1 complimentary movie ticket every month (buy one, get one free) via BookMyShow.
  • 5% cashback on grocery spends (on transactions ₹2,000+, max ₹150/month).
  • Earn 1 EDGE REWARD Point for every ₹200 spent.
  • 15% off up to ₹500 at EazyDiner (min order ₹2500, once per month).
  • High daily ATM withdrawal limit of ₹1 lakh.
  • High daily POS/online purchase limit of ₹5 lakh.
  • Comprehensive insurance coverage: Personal Accident (₹5 lakhs), Air Accident (₹1 crore), Purchase Protection (₹50,000), Price Protection (₹50,000), Baggage Loss/Delay (up to 500 USD).
  • International usage enabled.
  • Contactless payment limit up to ₹5,000.
  • Chip & Pin enabled for enhanced security.
• Negative Highlights:
  • Issuance Fee: ₹750.
  • Annual Fee: ₹750.
  • Cross-currency mark-up: 3.5% on international transactions.
  • Dynamic Currency Conversion (DCC) mark-up: 1% plus GST.
  • Domestic ATM cash withdrawal charges: ₹23 beyond free limits.
  • Domestic ATM non-financial transaction charges: ₹10 beyond free limits.
  • International ATM cash withdrawal charges: ₹125.
  • International ATM non-financial transaction charges: ₹25.
  • Not eligible for Burgundy Private, Burgundy, Priority, NRI, No-frills, and Basic Saving Account holders.

Other Details

• You can easily generate your Debit Card PIN anytime at your nearest Axis Bank ATM or by calling Axis Bank Phone Banking.
• In case your debit card is lost/stolen, or you suspect misuse, you can immediately block your card via SMS (‘BLOCKCARD ’ to 5676782), emergency helpline (+91-22-67987700 or 1800-103-5577), Internet Banking, or the Axis Bank Mobile App.
• Receive instant SMS alerts each time the debit card is used to withdraw cash, along with other important information such as balance inquiry, debit or credit alerts, and transaction details.
• The bank advises against using the Debit Card or online banking for collecting and effecting/remitting payments directly/indirectly outside India for overseas foreign exchange trading through electronic/internet trading portals, as this may contravene the Foreign Exchange Management Act (FEMA), 1999, and KYC/AML regulations.
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