Paynearby Axis Bank Savings Account Opening
Tangible Benefits to Savings Account Customer
• Zero balance account , Zero non maintenance/ monthly service charges.
• Interest in the range of 3–3.5% 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
swiped ( 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
Some Common FAQs
1. 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.
3. What is AePS withdrawal limit & charges ?
ATM & 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 .
4. 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
Withdrawals” ( 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
For each successful
Customer Current or
Savings Account opening