Axis Bank launches ‘Full Power Digital Savings Account’ with Video KYC & Instant E-Debit Card

To serve customers in the new normal times, Axis Bank launches a full power Digital Savings Account that can be opened instantly with Video KYC in 4 simple steps. Keeping in mind the need of the hour, the product proposition is built in a way that not only does the account give one access to 250+ banking services online, but also a virtual debit card named as ‘E-Debit Card’ with which customers can start transacting immediately after opening the account.

Key convenience factors for a customer:

• Customers need not visit a branch at all – as this is a full KYC digital Savings Account
• Customers have to no longer wait for a physical Debit Card to be delivered, an E-Debit Card is given to the customers instantly
• No restrictions on the transaction limit, unlike a half KYC Digital Savings Account
• Services include FD/RD, MF, Insurance, Loans/Credit Cards, utility bills pay etc, totaling to 250+ services

The E-Debit Card also comes with added benefits for the customers, such as:

• 1 year complimentary Times Prime membership worth Rs.999.
• Gives access to premium subscriptions such as Zee5, TOI+, Gaana Plus, Cure.Fit Live to name a few, and also includes exclusive rewards and benefits across categories such as food, shopping, health and travel
• 1% cashback on your online spends (capped at Rs. 200/month and minimum transaction ticket size of Rs. 500)

  On the occasion, Sameer Shetty, Head – Digital Banking, Axis Banksaid: “Our objective as a bank is to re-define the role we can play in the lives of our customers by adding convenience and ease in the new normal times, where digital access to banking services has become even more crucial. In our endeavor, we have elevated our Digital Banking proposition in a postCOVID World, with launch of our ‘Full Power Digital Savings Account’. The key differentiating factor is that the platform provides the customer with an end-to-end digital journey for opening a Savings Account. Further, our customers need not wait for a physical debit card to arrive in order to start making transactions. This is a step ahead in accelerating digital transformation through our services and providing full power in the hands of our customers.”

  The 4 simple steps of the Video KYC process are: 1) Verification of customer via OTP, 2) Capturing of details required to open a Savings Account, 3) Initial Funding and, 4) A short video call with a bank representative to complete the KYC process.

  With customers now rapidly adopting digital banking, Axis Bank is committed to assisting them with the best of digital services. This product will enable us to be open to our customers beyond branches and banking hours. In the new normal times, our customers have shown resilience and have adapted to newer ways of doing things in order to get back to their lives. In an endeavor to create awareness and educate them about this platform, a 360 degree brand campaign has also been launched which pays an ode to their resilience.