Axis Bank Priority Banking Program

Types of Savings Accounts Offered Under Priority Banking Program

Priority Digital Savings Account and Priority Salary Account are two savings accounts that customers can open under the Priority Banking Program.

Axis Bank Priority Digital Savings Account

Priority Digital Savings Account is a premium savings account which can be opened and managed entirely online, making it convenient to have a savings account in India.

Features

• Discounts: Some benefits include 25% discount on movie tickets purchased from BookMyShow, 1% cashback on purchases with your e-Debit card and cashback via Grab Deals.
• Insurance Benefit: Aditya Birla Health Insurance Co. Limited offers health insurance to the Priority Digital Savings Account holders of Axis Bank.
• Benefit for Senior Citizens: Higher FD rates, 20% discount at diagnostic centres around the country and 15% off at Apollo pharmacies for people over the age of 60.

Eligibility Criteria and Documents Required

• The customer should be a resident Indian citizen.
• A linked and valid PAN card and Aadhaar card.
• A laptop or smartphone, with a working camera and access enabled.
• The initial deposit has to be made with a debit card, UPI, or internet banking. A credit card cannot be used for the first deposit.

Axis Bank Priority Salary Account

Priority Salary Account is an Axis Bank savings account with various banking privileges tailored for salaried individuals.

Features

• Discounts: Account holders can enjoy discounts on movies, meals, locker rent, complimentary access to airport lounge and more.
• One Glance E-Statement: You receive a monthly e-statement, which gives you a summary of your relationship with the bank.
• Priority Platinum Debit Card: Customers get a debit card with no issuance charge. Customers are also not required to pay an annual fee for the card.

Eligibility Criteria and Documents Required

• Company introduction letter on the company letterhead with proper signatures.
• Applicants should have a minimum monthly salary of ₹1 lakh.
• Documents that can prove your identity and address.
• Two passport-sized photographs.

Features and Benefits of Axis Bank Priority Banking Program

The Axis Bank Priority Banking Program offers some of the best savings accounts with various features to support a personalised experience.

• EDGE Reward Points: Customers can earn up to ₹2000 worth of EDGE Reward points every three months that they can use against purchases on more than 500 brands.
• Cashback Via Grab Deals: You can get up to 20% cashback or 40X reward points when shopping with 50+ brands, including Amazon and Flipkart.
• Family Privilege: The benefits of the Priority Banking Program can be enjoyed by a maximum of five qualified family members. You can also get a 10% discount on locker rent.
• Priority Debit Card: Through this card, customers can enjoy complimentary domestic airport lounge access and two complimentary international airport lounge accesses. Benefits like a 25% discount on movie ticket purchases with BookMyShow are also included.
• Privilege Credit Card: With a complimentary joining fee for this credit card, you can earn EDGE Reward points, get access to airport lounges, along with various discounts on purchases.
• Business Solution: Priority customers can access a range of Current Account variants and business banking products such as Swipe Machines, Cash Management Solutions, Cash Credit, and Loan Against Card Receivables to support their business needs.
• Digital Banking: From Axis Bank balance check, paying bills, to blocking cards, everything can be done online via the bank's app or through the internet.

Applicable Eligibility Criteria for the Priority Banking Program

If you fulfil any one of the six given criteria, you can open an account under the Priority Banking Program.

• Customers have to maintain an Average Monthly Balance (AMB) of ₹2 lakhs in their Priority Savings Account.
• Customers can maintain ₹4 lakhs in their linked Priority Savings Account and Current Account.
• Maintain a Total Relationship Value(TRV) of ₹15 lakhs across a priority savings account, current account, fixed deposit, and mutual fund investment.
• Maintain a ₹50 lakhs TRV across a priority savings account, current account, fixed deposit, mutual fund investment and demat account holding value.
• Non-Resident Indian(NRI) receiving ₹20 lakh or more in foreign inward remittance with Remit Money or wire transfer in the last 12 months.
• Priority Salary Account holders should have a minimum salary of ₹1 lakh per month.

How to Open the Axis Bank Priority Accounts

You can open the Priority Digital Savings Account online as it is a digital account. However, for the Priority Salary Account, it can be opened both online and offline.

Online Process

Priority Digital Savings Account

The Priority Digital Savings Account opening process can only be done online through these 5 steps:

• Visit Website: Apply online through the Axis Bank Priority Banking Program page.
• Verification: Start by verifying your PAN and Aadhaar card.
• Fill Form: Enter your personal details as per the request.
• Video KYC: Make a video call to complete KYC verification.
• Initial Funding: Make the first payment to activate the account.

Priority Salary Account
The Priority Salary Account can also be opened online through these steps:

• Visit Website: Apply online for the Priority Salary Account through the Axis Bank website.
• Verification: Verify your PAN and Aadhaar details.
• Fill Form: Enter your personal and employment details.
• Video KYC: Complete the Video KYC process.
• Submit Documents: Upload any additional documents required by the bank.
• Account Opening: After verification, the bank activates the account.

Offline Process

To open a Priority Salary Account offline, follow the given steps:

• Visit Branch: Ask for a form in the branch.
• Application: Fill in the form.
• KYC Document: Submit all the requested documents.
• Verification: The bank verifies the details submitted.
• Account Opening: After verification, the bank activates the account.