Axis Bank Liberty Savings Account

What Is the Axis Bank Liberty Savings Account?

The Axis Bank Liberty Savings Account is a value-added savings account for individuals residing in India and Hindu Undivided Families. It allows customers to meet the account requirement through their Average Monthly Balance (AMB), eligible spending or a fixed deposit.

Customers comparing an Axis Bank Savings Account can review this option if they prefer flexibility in meeting the balance requirement.

Features and Benefits of Axis Bank Liberty Savings Account

The Liberty Savings Account gives customers more than one way to meet the monthly requirement. Customers comparing best savings account options should consider whether they are more likely to maintain the balance, meet the spending condition or hold the required fixed deposit.

The Liberty Savings Account offers the following banking and family benefits:

• Flexible Account Requirement: Customers can maintain an Average Monthly Balance (AMB) of ₹25,000, spend ₹25,000 from the account during the month or hold an active fixed deposit of at least ₹1 lakh for 12 months or longer. Eligible spending covers merchant payments through Internet Banking, Axis Mobile, UPI and debit cards.
• Weekend Cashback: The Liberty Debit Card gives 5% cashback on eligible spending made on Saturdays and Sundays across food, entertainment, shopping and travel. Redeemable cashback is capped at ₹500 per month and ₹1,000 in the customer’s birthday month.
• Debit Card Limits: You can withdraw a maximum of ₹50,000 per day from an ATM. The shopping limit is ₹3 lakh per day.
• Dining Benefit: Customers can get up to 15% off at over 10,000 EazyDiner partner restaurants.
• EDGE REWARD Points: The card earns one EDGE REWARD Point for every ₹200 spent. Monthly earnings are limited to 1,000 points.
• Quarterly Voucher: A voucher worth ₹750 is available after eligible spending of ₹60,000 in a financial quarter.
• Banking Privileges: The eligible Liberty Debit Card includes personal accident cover up to ₹5 lakh and air accident cover up to ₹1 crore.
• Family Banking: Liberty privileges can be extended to three additional family members. The family may maintain the required relationship value collectively and get an additional 10% locker discount.

Customers aged 57 or above may also receive complimentary Silver Linings Programme membership. Those comparing a savings account in India should review the spending limits and eligibility conditions attached to the cashback, voucher and insurance benefits.

Eligibility Criteria and Documents Required

The following applicants can open the savings account:

• An individual residing in India
• A Hindu Undivided Family
• Joint applicants who provide the required documents

Individuals need a recent passport-size photograph and valid identity and address proof. One copy is enough when the same document works as both identity and address proof. Separate proof is needed when the mailing and permanent addresses differ.

For an HUF, the bank asks for PAN or Form 60, a Karta declaration, the Karta’s KYC documents and the prescribed family letter signed by all adult holders.

How to Open the Axis Bank Liberty Savings Account

The savings account can be opened online or at an Axis Bank branch:

Online process

Visit the Liberty Savings Account page, select the application option, enter the requested details and complete verification.

Offline process

Visit your nearest Axis Bank branch, fill out the account-opening form, submit the photograph and KYC documents.

Fees and Charges for Axis Bank Liberty Savings Account

Customers can meet the savings account requirement in any one of the following ways:

Charges for other banking services depend on the transaction or facility used. Customers can check the current Axis Bank schedule before using a chargeable service.