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ASAP Instant Savings Account

Axis ASAP is a new age digital savings account offered by Axis Bank. You can open an Axis ASAP account by downloading the Axis Mobile App or by applying online & registering your Aadhaar, PAN & other basic details. Axis ASAP comes with a host of features like higher interest rates, 10% cash back every month on BookMyShow, unlimited transfers using axis mobile & much more.

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  • Instant Account Opening

  • Higher Interest Rates

  • No Minimum Balance Required

  • Initial Funding as low as Rs.10000

  • ASAP goals is available for customers who have completed their KYC
  • All existing terms & conditions of Axis ASAP will be applicable to ASAP goals
  • All restrictions on half KYC accounts for ASAP customers will be applicable to ASAP goals
  • Monthly contribution= (Goal Amount- Flexi fixed deposit)/no of months left to achieve goal. Interest calculation will be over and above.
  • All rules of Encash 24 will applicable
  • Goal amount always has to be more than the flexi fixed deposit amount
  • Goal amount has to be in multiples of Rs 500
  • Goal target date has to more than 3 months & less than 3 years from date of goal setting
  • Axis Bank is not responsible incase customer is not able to complete/fulfil their goal.

1. I hereby state that I have not used the OTP based Aadhaar (e-KYC) verification to open any other bank account in Axis Bank or any other bank.

Customer understands that he/she has no objection in authenticating themself with Aadhaar based authentication system and voluntarily consent to providing their Aadhaar number, Biometric and/or One Time Pin(OTP) data (and/or any similar authentication mechanism) for the purposes of seeding their new account with NPCI mapper to enable me to receive Direct Benefit Transfer (DBT) including LPG Subsidy from Govt. of India (GOI) their my new account.

2. I hereby state that I have no objection in authenticating myself with Aadhaar based authentication system and consent to providing my Aadhaar Number, Biometric and/or (One Time Pin) OTP data (and/or any similar authentication mechanism) for Aadhaar Based authentication for the purposes of availing of the Banking Service from Axis Bank.

3. I understand that the Biometric and/or (One Time Pin) OTP (and/or any similar authentication mechanism) I may provide for authentication shall be used only for authenticating my identity through Aadhaar Authentication system for that specific transaction and for no other purposes. I understand that Axis Bank shall ensure security and confidentiality of my personal identity data provided for the purpose Aadhaar based authentication.

4. I submit my Aadhaar number and voluntarily give my consent to:

  • Use my Aadhaar Details to authenticate me from UIDAI.
  • Use my Registered Mobile Number in the bank records for sending SMS alerts to me.
  • Link the Aadhaar Number to all my existing/new/future accounts and customer profile (CIF)with your Bank.

I understand that my information submitted to the bank herewith shall not be used for any purpose other than mentioned above.

I hereby declare that all the above information voluntarily furnished by me is true, correct and complete.

5. The bank may disclose information about customer's account, if required or permitted by law, rule or regulations, or at the request of any public or regulatory authority or if such disclosure is required for the purpose of preventing frauds, or in public interest, without specific consent of the account holder/s.

General Terms and Conditions

  • Any Resident Indian who is 18 years and above who provides his/her details in the Digital Savings Account application for opening AXIS ASAP account offered by Axis Bank Limited is a Customer
  • By logging into and providing his/her details, customer agrees to the terms and conditions of the Bank as listed in https://www.axisbank.com/docs/default-source/default-document-library/savings-accounts-tnc.pdf
  • By visiting the Axis ASAP – Apply Now link and sharing all information, customer consents to provide his/her name, contact details and other information on an at will basis with Bank.
  • Customer can complete their KYC at any Axis Bank branch using biometric authentication or by providing physical KYC documents.
  • Customer authorize Axis Bank to call on the given number to explain the features of the product and marketing
  • Bank shall not be liable for any connectivity/ signal/ data issues leading to non-completion or wrong/false/incomplete information being provided by the customer leading to the incompletion of his/her application.
  • The customer herewith agrees to provide his/ her valid Aadhaar number and valid PAN Card details. He/she understands that opening an account is subject to correct, complete and accurate information is provided.
  • Customer agrees that upon successful OTP validation of Aadhaar, the name of the customer in the account will be the same name as appearing in his/her Aadhaar Card
  • Application once submitted cannot be withdrawn by the customer. Bank shall not be liable to pay for any costs (technical/ data plan related or otherwise) incurred by the customer in the course of the downloading or sharing of his/her details on the application.
  • The customer herewith agrees to provide the accurate documentation and information as listed in the app for the purpose of account opening. Customer understands and agrees that failure to provide requisite documentation and information shall result in rejection of application by the Bank. The customer agrees that Bank has every right to reject the account opening application, if there is any erroneous, incomplete or misleading information provided by the customer or for any other reason whatsoever with/without assigning any reason or if KYC documents submitted do not comply with the KYC norms of the Bank.
  • This account opening process is not available for existing Axis Bank customers who have a relationship with the bank under AXIS ASAP scheme (OTP based Aadhaar account opening)
  • This account opening process is also not available for customers who are FATCA reportable. Such customers are requested to approach the branch and to comply with requirement of opening an account.
  • Bank reserves the right to take necessary action, legal or otherwise, if it finds any wilful modification/ withholding of information or misrepresentation by the customer.
  • Customers, who would like to deposit funds using the funding facility available in the Axis ASAP app, can do so only from their own full kyc bank account and not from a Third Party Bank account. Bank shall be at liberty to refuse to open the accounts funded from a Third Party Bank account at its sole discretion.
  • Customer understands and agrees that interest on the amount funded online will be paid subject to activation of the account and only from the date when the funds has been credited into the account.
  • The customer shall not enjoy the services provided by the bank unless the customer on-boarding process is complete.
  • Customers will have restricted access on this account till KYC is completed
  • Customer declares and confirms that the Bank shall be entitled to rely on all/any communication, information and details provided on the electronic form and all such communications, information and details shall be final and legally binding on the Customer.
  • Customer understands and confirms that the Bank has every right to close or debit freeze the account, if the details provided by him/her are found to be inaccurate, incorrect or false by the Bank or for any other reason whatsoever without assigning any reason thereof. In such an event, the bank shall not be liable to pay any interest on the amount of deposit & the refund of amount deposited in the account will be refunded to the source account/or issue a Demand Draft to the Customer. In such an event, bank will retain the documents / Photographs (if any) and any other signed document submitted.
  • This application is available for opening a savings account by Resident Indian Individuals only.
  • Customer gives consent to the Bank to fetch his/her demographic details from Unique Identification Authority of India (UIDAI), using biometric authentication which will be used for KYC purposes. The demographic details include name, DOB, Father’s Name, gender, address and photograph. Customer further consents to the Bank to fetch his/her contact details from UIDAI which includes the contact number and email ID.
  • Customer authorises Bank to link the Aadhar number provided by them with the savings account opened by them under this process. Customer herewith understands and agrees that this data will be shared with government department and customer might receive direct transfer of subsidies/benefits, subject to this being the primary account number seeded with Aadhaar.
  • The Bank reserves the right to cancel the Customer ID and Account Number (A/C) allotted to the customer, if the customer does not complete the verification process within the allotted time.
  • The Bank reserves the right to hold the accounts in Debit Freeze or close the Account even after account activation in case of any discrepancy found as part of regular monitoring and document verification activities.
  • The customer agrees to provide the necessary details (Mobile, Email etc.,) as per his/her requirement at the time of submission of details through the app. Bank shall not bear any liability for any loss arising out of customer’s failure to do so.
  • The customer herewith agrees to be contacted by the bank to receive information in respect of account maintenance, alerts, payments due, updates on existing and new products, servicing of account for sales, marketing or servicing their relationship with Axis Bank Limited and its group companies / associates or agents through Telephone / Mobile / SMS / Email etc. Further he/she understands that the consent to receive calls / communications shall be valid and shall prevail over their current or any subsequent registration of their mobile number for NDNC and shall continue to be treated as customer consent / acceptance.
  • The customer herewith agrees that if the application is rejected, Bank will retain the documents / Photographs and any other signed document submitted by the customer on the Web app or otherwise.
  • Customer confirms to have read, understood and will be bound to/ abide by the Terms and Conditions of account opening and the general terms applicable to account as available on Axis Bank’s website
  • Customer is requested to submit their KYC documents and Customer should also ensure that his/her signature is duly updated in the Bank's records in order to issue ECS/NACH/Direct debit mandate on ASAP account.
  • Customers can update their signature through the Mobile Application or by visiting any of the nearest Axis Bank branch. Accounts with signature enables you to issue NACH/ECS/Direct Debit mandate

The customer herewith confirms that he/she has not used the OTP based Aadhaar (e-KYC) verification to open any other bank account.

AXIS ASAP account opened with UIDAI based OTP, with credit balance of not more than 1 Lakh. The overall cumulative deposit in such an account cannot exceed 2 Lakhs, unless you complete full KYC process is completed

The customer herewith agrees to complete his full KYC by visiting his nearest Axis Bank branch/ by requesting a visit from the bank representative and providing his biometric details within 12 months of opening such account.

The customer agrees that failure to complete full KYC within 12 months will lead to his account being closed by the bank.

The customer agrees that if her/ his balance in the limited KYC account exceeds 1 Lakh in a given day, bank reserves the right to put the account on a total freeze, till such time that customer completes the full KYC process.

In case of account being put under total freeze, the customer agrees that principal amount on such deposits kept along with the interest accrued (if any) will be payable to him only upon completing his full KYC.

The customer will not be eligible to get a Cheque book for this account till the time full KYC is completed & signature gets updated in the account.

The customer agrees that such an account will be subject to regular scrutiny and monitoring from the bank and bank shall reserve the right to completely freeze/debit freeze/ close the account at its sole discretion.

If Customer fails to provide full KYC for any reason, customer understands and agrees that the bank reserves right to close the account post which the bank will issue a Demand Draft and dispatch the same in the customer communication address available in bank records

I hereby declare that the details furnished above are true and correct to the best of my/our knowledge and belief and I undertake to inform you of any changes therein, immediately. In case any of the above information is found to be false or untrue or misleading or misrepresenting, I/We am/are aware that I/we may be held liable for it.

My personal / KYC details may be shared with Central KYC Registry

I hereby consent to receiving information from Central KYC Registry through SMS/Email on the above registered number/email address

Customer will be offered a Virtual Visa Classic Debit Card free of Charge, which will have an e-commerce transaction limit of Rs. 100,000/- per day.

Customer will also receive an ‘Online Rewards’ physical debit card with a discounted issuance fee of Rs 300 + taxes & annual fee of Rs 500 + taxes.

The virtual debit card will become inactive once the customer makes any transaction using the physical debit card.

Complimentary Physical Debit Card offer

  • Customers funding above or equal to Rs 10,000 at the time of account opening will recieve a complimentary physical debit card subject to successful Debit Card fee recovery.
  • Physical debit card fee of Rs 300 + taxes will be levied at a later date
  • Once the debit card fee has been recovered from your ASAP Account, you will recieve a refund of the fees within 60 days
  • The reversal will only be applicable to customers from whom the entire debit card fee has been recovered.
  • Customer needs to keep atleast Rs 354 after initial funding to ensure recovery of debit card issuance fees and relevant taxes.The fees is received within 5 days of card allocation.
Axis bank Ltd., will open an Encash 24 Deposit Account which is linked to Axis ASAP Digital Savings Account as part of regular product offering. I undertake to abide by the rules and regulations as mentioned below
  • 1. The Encash 24 Deposit Account shall be in units of Rs. 500/- each. The term deposit accounts shall be created once a day every day.
  • The linked Term Deposit shall be issued by the Bank for a period of 1 year, or such periods as may be decided by the Bank.
  • I understand that in the eventuality of number of units in the Encash term deposits falling below 1 unit of Rs. 500/- , the amount lying in Encash 24 term deposits will be automatically paid or closed or uplifted before maturity and transferred to my/our Savings Account as per extant rules and regulations.
  • These deposits will earn interest at rates decided by the Bank from time to time.
  • Withdrawal of units will be automatic in the multiples of Rs. 500/- to meet the withdrawals/overdraft/minimum balance requirement in Savings Account on account of payment through ATM, cheque received in clearing/collection or by any other means across the counter or at my/our specific request for transfer of funds from Savings Account. The units so withdrawn shall cease to earn interest from the date of withdrawal and the interest upto the date of withdrawal, if payable shall be paid as per extant RBI's directives/Bank's policy.
  • I/We hereby authorize the Bank that on maturity of Linked Term Deposits to transfer Principal and Interest amount of Term Deposit to the linked Savings account
  • I/We understand that delinking of Encash 24 Deposit Account is permissible upon my/ specific request and such delinking shall automatically apply to all the Linked Term Deposits from the Linked Savings Account. These TDs would act as normal TDs. Simultaneously, the Linked Savings Account shall cease to be a Linked account and the extant stipulations governing the minimum balances to be maintained shall apply failing which applicable service charges will be levied.
  • I understand that balances in savings account beyond which money is transferred to fixed/term deposits at a minimum of Rs. 20,000/- or as specified below. All fixed/term deposits will be made in units of Rs. 500 thereon.
  • I understand that the Bank may alter/change/modify the minimum balance requirements in SB/TD accounts, the amount of fresh TDs that can be linked, the charges or any of the terms of the scheme by displaying the same at the notice board of the bank or may be available with the branches. l/We agree that the Bank is not obligated to specifically notify me/us in this regard.
  • I authorize you to effect part withdrawal/pre-mature encashment of the deposit on the instructions of any one of us subject to extant RBI directives/Banks policy which l/We understand would entail total/partial loss of interest
  • Bank reserves the right to charge OD interest on overdrafts created for the period of existence of such overdrafts at the rates as the Bank may deem fit.
  • Premature Encashment:
    • For Rupee Term Deposits of a contracted amount less than Rs 5 Crores opened/renewed on or after May 1, 2014 (including Flexi deposits), interest rate shall be 1.00% below the card rate, prevailing as on the date of deposit, as applicable for the period the deposit has remained with the bank or 1.00% below the contracted rate, whichever is lower. However, for Rupee Term Deposits closed within 14 days from the date of booking of the deposit interest rate shall be rate applicable for the period the deposit has remained with the bank or the contracted rate, whichever is lower.
    • For Rupee Term Deposits of a contracted amount of Rs 5 Crores and above, interest rate shall be 1% below the card rate prevailing as on the date of deposit, as applicable for the period the deposit has remained with the bank or 1% below the contracted rate, whichever is lower. This would also be applicable on Rupee Term Deposits closed within 14 days from the date of booking of the deposit. There would be no premature withdrawal penalty on NRE Term Deposits.
  • For Rupee Term Deposits of a contracted amount of Rs 5 Crores and above, interest rate shall be 1% below the card rate prevailing as on the date of deposit, as applicable for the period the deposit has remained with the bank or 1% below the contracted rate, whichever is lower. This would also be applicable on Rupee Term Deposits closed within 14 days from the date of booking of the deposit. There would be no premature withdrawal penalty on NRE Term Deposits.
  • In the event of 'With disposal' instructions being 'Either or Survivor' and a premature withdrawal is required by either of the joint holder even when both are alive: In case either one of us request the bank, to allow either of us to prematurely withdraw the said deposit, the bank is entitled to honour the same. We further affirm that the payment of proceeds of such deposits to either one of us represents a valid discharge of the bank's liability, provided there is no order from a competent court restraining the bank from making the payment from the said account to either of us.
  • In case the mode of operation is ‘Either or survivor’ or “ Former or Survivor” or “Anyone or Survivor”, in the event of the death of one of the deposit holder, premature withdrawal is required by the survivor: In the event of the death of either one of us, the survivor, if he / she so request the bank, to prematurely withdraw the said deposit without seeking the concurrence of the legal heirs of the deceased joint deposit holder, the bank is entitled to honour the same. We Further affirm that payment of the proceeds of such deposit to the survivor represents a valid discharge of the bank's liability provided.
    • There is no order from a competent court restraining the bank from making the payment from the said account.
    • That the survivor would be receiving the payment from the bank as a trustee of the legal heirs of the deceased depositor and that such payment to him/her shall not affect the right or claim that any person/s may have against the survivor to whom the payment is made.
  • Where the deposit is held singly and premature withdrawal is required by the nominee in the event of death of the deposit holder:
    • In the event of my death, the nominee named for the deposit is entitled to prematurely withdraw the said deposit, if he/she so requests the bank, without seeking the concurrence of my legal heirs. I further affirm that payment of the proceeds of such deposit to the nominee represents a valid discharge of the bank's liability
    • That the nominee would be receiving the payment from the bank as a trustee of the legal heirs of the deceased depositor and that such payment to him/her shall not affect the right or claim that my legal heirs may have against the nominee to whom the payment is made.
  • An overdue term deposit or its portion may be renewed from the date of Maturity, provided the overdue period from the date of maturity till the date of renewal does not exceed 14 days. The rate of interest payable on the amount of the deposit so renewed shall be the appropriate rate of interest for the period of renewal as prevailing on the date of maturity. If the overdue period is more than 14 days and if the depositor places the entire amount of overdue deposit or at least the principal amount of deposit as a fresh term deposit, interest may be paid for the overdue period on the amount so placed as a fresh deposit at the rate decided by the Bank which at present is simple interest at Savings Bank interest rates.

Axis ASAP customers are eligible for

  • 1000 eDGE reward points on initial funding of more than Rs 5,000 at the time of account opening
  • 2000 eDGE reward points on initial funding of more than Rs 11,000 at the time of account opening
  • The eDGE reward points will be credited within 60 days of successful account opening

TERMS & CONDITIONS

  • Axis Bank reserves the right to disqualify any Axis ASAP account holder from the benefits of the program. If case of any fraudulent activity, prosecution will be carried according to the purpose of availing the benefits under the program
  • Axis Bank reserves the right to modify/change all or any of the terms applicable to the program without assigning any reasons or without any prior intimation whatsoever
  • Axis Bank also reserves the right to discontinue the program without assigning any reasons or without any prior intimation whatsoever
  • By participating in this Offer, the AXIS ASAP account holder shall be deemed to have read, understood, accepted and agreed to be bound by these Terms & Conditions.
  • In all matters or disputes relating to the Offer, the decision of Axis Bank shall be final and binding
  • All information is provided on "as is" basis without warranty of any kind. Axis Bank makes no representation and disclaims all express, implied warranties of any kind to the AXIS ASAP account holder and/or any third party including, without limitation, warranties as to accuracy, timeliness, completeness, merchantability, or fitness for any particular purpose.
  • These Terms and Conditions and an arrangement herein shall be subject to applicable RBI guidelines issued from time to time and prevailing law and regulations.
  • Axis Bank will not be responsible or liable in case the offer is not configured or could not be availed due to malfunction, delay, traffic congestion on any telephone network or line, computer on-line system, servers or providers, computer equipment, software, or website.
  • In case of all matters relating to the offer including any dispute or discrepancy relating to the offer or eligibility of any Account holder, Axis Bank’s decision shall be final and binding on Account holders in all respects.
  • The terms and conditions governing the offer shall be in addition to and not in substitution / derogation to the Primary Terms and Conditions governing the Axis ASAP Account and Axis ASAP Debit Card issued by Axis Bank.
  • The offer by Axis Bank is subject to applicable laws and regulatory guidelines/ regulations and as per bank's extant guidelines from time to time
  • Axis Bank shall not be liable in any manner whatsoever for any loss/ damage/ claim that may arise out of use or otherwise of any goods/ services availed of by the Card Holder/s under the offer.
  • All taxes, duties, levies or other statutory dues and charges payable in connection with the benefits accruing under the offer shall be borne solely by the account holder and Axis Bank will not be liable in any manner whatsoever for any such taxes, duties, levies or other statutory dues.
  • The offer is not available wherever prohibited and products/ services for which such programs cannot be offered for any reason whatsoever.
  • Edge Reward points credit to the successful Customer will be governed by the “Edge Reward terms & conditions”.

Axis eDGE rewards general T&C

  • The program is non-negotiable and the reward points earned cannot be en-cashed.
  • Incomplete / rejected / invalid / returned /disputed or unauthorized/fraudulent transactions will not be considered for points credit.
  • Axis Bank will not be responsible or liable in case the transactions could not be completed due to malfunction, delay, traffic congestion on any telephone network or line, computer on-line system, servers or providers, computer equipment, software, or website.
  • In case of all matters relating to the program including any dispute or discrepancy relating to the earn rules or eligibility of any customer, Axis Bank’s decision shall be final and binding on accountholder in all respects.
  • Any person taking the advantage of this program shall be deemed to have read, understood and accepted these terms and conditions.
  • Any dispute relating to the program or the terms and conditions shall be subject to the jurisdiction of the courts in Mumbai only.
  • The above T&C’s are in addition to the Axis eDGE Rewards program T&C’s mentioned herein - https://edgerewards.axisbank.com/terms-conditions
Click here to view the terms and conditions
Click here to view the terms and conditions
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