Axis Bank Insurance Agent Savings Account

What Is the Axis Bank Insurance Agent Savings Account?

Insurance Agent Savings Account is a uniquely designed Axis Bank savings account for insurance agents. Account holders can enjoy personal accident insurance and a Visa Platinum Debit Card along with a concessional initial deposit rate. Any eligible applicant can open an Insurance Agent Savings Account individually or with one or more joint holders.

Features and Benefits of Axis Bank Insurance Agent Savings Account

The Insurance Agent Savings Account is a dedicated savings account in India with both day-to-day and personalised banking features.

• Interest Earning: Any balance in the account can earn interest daily and interest earned is credited to your account every quarter. The interest rate is currently 2.50%.
• Concessional Opening Deposit: The Bank provides a concessional initial deposit requirement of ₹5000 for the first deposit in the metro and urban areas and ₹2500 in semi-urban and rural areas.
• Visa Platinum Debit Card: Debit cards are issued at a nominal fee of ₹200 and the customer will have to pay an annual fee of ₹200 for the card.
• Insurance Benefit: The account comes with a personal accident insurance cover of ₹2 lakh and ₹50,000 cover for Lost Card Liability and Purchase Protection. Customers must use their card at least once during any 90‑day period to qualify for this benefit.
• Free Chequebook: As an Insurance Agent Savings Account holder, you receive one free pay-at-par chequebook every year.
• Digital Banking: Account holders also have the option to perform an Axis Bank balance check, acquire a mini statement or perform other necessary banking functions online.

Eligibility Criteria and Documents Required

The document required for opening a savings account solely or jointly may differ slightly. General requirements and criteria are listed below.

• Documents that prove your identity and address are required.
• All applicants need to submit KYC documents in case of a joint account.
• One latest passport-size photograph.
• If the permanent and current addresses are different, documents for both addresses are needed.

How to Open the Axis Bank Insurance Agent Savings Account

You can open the account both online through the bank's website or app and offline at a bank’s branch. The process of opening an account usually involves the 5 given steps.

• Application: Fill in your personal details.
• Verifying KYC: Documents like Aadhaar and PAN cards have to be verified.
• Submit: Review your application and submit.
• Initial Deposit: The initial payment of ₹5000 or ₹2500 has to be paid to activate the account.
• Account Activation: The bank activates the account after successful verification and processing.

Fees and Charges for the Axis Bank Insurance Agent Savings Account

The table below outlines some important charges and requirements that customers should be aware of when opening an account.