Paynearby Axis Bank Savings Account Opening

Axis Bank
Paynearby Axis Bank Savings Account Opening
Paynearby Axis CASA

Tangible Benefits to Savings Account Customer

Zero balance account , Zero non maintenance/ monthly service charges.

Interest in the range of 33.5% on daily balances

Free NEFT/RTGS via Digital Channel (Mobile & Internet

Visa Platinum Card at an issuance fee of Rs. 250(+tax)
and annual fee of Rs.100(+tax)

Daily withdrawal limits (ATM+AePS withdrwal) of Rs.
40,000 and
Rs. 3,00,000 for shopping transactions

Personal accident insurance cover of up to Rs. 2 Lakhs, if
( Shopping)once, every 90 days.

24×7 Accessible Axis Bank Customer Care details

Tangible Benefits to Savings Account Customer Intangible Benefits to Savings Account

Convenience of opening a bank account at the
nearby stores and access it beyond Banking


Aspirational benefit of being a bank account
holder of one of the largest
private sector Bank

Instant Bank account opening through eKYC /

Safety in terms of funds stored in digital format

Money lying with the trustworthy and credible

Easy Access to funds at any time of the day via
ATM and Retailer outlets

Benefits to Retailers

Attractive commission to Retailers on each account Opening
Credibility and Trust growth in the market
Consistent income Account opening, Withdrawal, deposit and other new transactions
Up Sell/ Cross sell other products in their shop and thus increase in footfalls

Paynearby Axis

Some Common FAQs
Is Cash Deposit @ Retailer Outlet available ?
Currently this facility is not available
It is expected to come soon.
However customer can use branches, NEFT
IMPS or Cash Deposit Machines to deposit cash in the

2. When can I start using
AePS Withdrawal for this account?
As soon as the account is activated, Customer receives a
sms about the same and thus the AePS
withdrawal can start.

What is AePS withdrawal limit & charges ?
AePS withdrawal has a combined limit of 40,000/ per day.
Charges for ATM and
AePS withdrawal beyond 5 free transactions are 20/ +Taxes .
Customers are requested to use this feature judiciously .

If an retailer has opened a Current account for himself Can he still open the Savings account for

Bank has this program mainly for
“New to Bank” customers So anyone who does not hold any past
relationship with Axis Bank (Savings Account, Current Account, Credit Card, Loan ,
etc ) . In this
scenario, by opening CA
retailer has created a relationship with Bank and thus will not be allowed
to open a Savings account .

Also retailers are requested to open a Retailer Current Account first to avail
TDS Waiver on Cash
( Under Section 194N of Income Tax Act , 1961)
5. Aadhaar Seeding process during account opening ?

There is a section during Savings Account opening for Aadhaar Linking and Seeding . If the customer says Yes

here, Axis Bank will initiate the process with NPCI . (Please refer to screenshot here)


1500/ Subscription Fees
(This is charged one time

to Retailer







For each successful
Customer Current or

Savings Account opening




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