Axis Bank Liberty Savings Account Benefits

[Deleted member 2540]

★ Axis liberty savings account is the best savings account for individuals who can qualify by meeting any one of the following conditions:-

(1) Maintain a minimum balance of ₹25000 in your account.

OR

(2) Spend ₹10000** per month on food, entertainment, shopping, and travel categories using the liberty debit card,
and
(2) Spend ₹15000^ per month at any merchant via the liberty debit card.

OR

(3) Spend ₹25000^ per month at any merchant via the liberty debit card.

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★ By meeting the 2nd condition, you can enjoy the following benefits with maximized savings:

(1) Zero balance account, since monthly spend of ₹25000 (₹10000** + ₹15000^) is required to receive the Non-Maintenance Charge (NMC) waiver for that particular month.

(2) 5% cashback (up to ₹500 per month), available on weekend transactions only (transactions made on Saturday and Sunday are considered).

● During your birthday month, you can earn 5% cashback up to ₹1000.

(3) One complimentary domestic lounge access per quarter.



★ Conditions:-

**Check the list of eligible MCCs for the Weekend 5% Cashback at the link below.** 👇

https://www.axisbank.com/docs/default-source/default-document-library/liberty-cashback-tnc.pdf

^Check the list of excluded spends/MCCs for the NMC waiver at the link below.^ 👇

https://www.axisbank.com/docs/default-source/default-document-library/liberty-savings-account-lifestyle-benefits-terms-and-conditions.pdf

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★ Overall Benefit:-
● ₹1000 × 1
● ₹500 × 11

Total:- ₹6500

★ Consolidated Charges:-
● SMS Charges: ₹17.70 × 4 = ₹71 (including GST)
● Liberty debit card annual fee: ₹354 (including GST)

Total:- ₹425

★ Net Annual Savings:- ₹6075/-

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1st Note:- You can now open a liberty account digitally and will receive both a virtual debit card and a physical liberty debit card. But, the virtual debit card issued with the digital axis liberty account is not the same as the e-debit card provided with other axis bank digital account variants.

2nd Note:- Quarterly gift voucher benefit linked to LIBERTY Savings Account shall be discontinued from 31th December, 2025 for all existing as well as new customers. Customers who qualify for this benefit basis the transactions done till 31st December, 2025 shall be considered eligible and awarded voucher as applicable basis terms laid out herewith.

Redemption Link for 750 GV:- https://www.gyftr.com/rewards/axisbankspendscampaign/

 

[Farhad sekh]

Well, seems like you are not aware.

For your kind information, T&C has been changed in August end 2025.

What has changed now?
I am planning to apply tomorrow

 

[6ix9ine]

What has changed now?
I am planning to apply tomorrow

Mainly how spends waiver and quarterly voucher is going to be given, don't open the account just for this. You will be better off using credit card.

 

[Ramesh Chintamani Gopal]

Then Pho*PHONEPE G is meant to be Phonepe gift card, as shown in my statement.

Use upi and the spend shows p2m then 100% it’s a business spend so we r safe

 

[hks789]

Use upi and the spend shows p2m then 100% it’s a business spend so we r safe

P2Ms without any MCC restrictions were working so far for UPI but now that they specifically mentions MCC code for UPI transactions, it may won't work.

 

[saber.mbt]

Because I had downloaded old T&C on 27th august to share with my friend on whatsapp, so I was easily able to distinguish the difference.

Ok good job. In Axis it is reflecting old last year date. May be they would have silently uploaded August end...

 

[6ix9ine]

Ok good job. In Axis it is reflecting old last year date. May be they would have silently uploaded August end...

That's exactly what was discussed in previous pages, you may have a read at them.

 

[Ramesh Chintamani Gopal]

P2Ms without any MCC restrictions were working so far for UPI but now that they specifically mentions MCC code for UPI transactions, it may won't work.

Anyways safer side axis being axis I funded 25l lets see whether 750/- voucher we get or not by quarter end
Atleast mab penalty let’s save

 

[Farhad sekh]

After how many months can I close this account after opening?

 

[saber.mbt]

Anyways safer side axis being axis I funded 25l lets see whether 750/- voucher we get or not by quarter end
Atleast mab penalty let’s save

If you spend 10k weekend cashback. Then 15K balance is fine to avoid MAB. They charge up to 600+GST..

 

[Ramesh Chintamani Gopal]

If you spend 10k weekend cashback. Then 15K balance is fine to avoid MAB. They charge up to 600+GST..

Other slots there to full fill with Amex and hdfc for weekend 😊

 

[skvignesh]

After how many months can I close this account after opening?

- Account is closed within 14 days of account opening: Nil
- Account is closed between 14 days and 1 year of account opening: Rs. 500
- Account is closed post 1 year of account opening: Nil

* GST applicable on the above charges will be additional

 

[SureShot]

No, but make sure that transactions are not on exclusions. For exclusions, check latest T&C.

I have recently opened liberty savings account for my wife. Though axis gave e debit card instantly with no charges, we have been asked to add 250 for physical debit card (along with initial funding of 25000) as well. Is debit card not optional with axis? We were told physical debit card comes by default with axis (for both insta kit and personalised kit). Is it so?

If I am not activating the physical card, can I get the issuance fee revered? what are the options if I don't want the physical one?
And also, is aadhaar based UPI registration allowed in axis?

Please help me with these queries, Axis Liberty lovers 😎

 

[6ix9ine]

I have recently opened liberty savings account for my wife. Though axis gave e debit card instantly with no charges, we have been asked to add 250 for physical debit card (along with initial funding of 25000) as well. Is debit card not optional with axis? We were told physical debit card comes by default with axis (for both insta kit and personalised kit). Is it so?

Correct. Initially, you will receive virtual DC. Just don't activate the physical DC which will arrive later on, you will be fine.

Btw, better opt for physical DC and use it for weekend cashback.

If I am not activating the physical card, can I get the issuance fee revered? what are the options if I don't want the physical one?

If you are not going to use physical DC, then weekend cashback will not be possible. Which makes me curious on why you opened this account, if your aim is to not fully utilise it.

And also, is aadhaar based UPI registration allowed in axis?

Please help me with these queries, Axis Liberty lovers 😎

Should work, use this: https://play.google.com/store/apps/details?id=com.upi.axispay

 

[SSV]

Do I need to get debit card mandatorily for quarterly 60K spends too to be eligible?

No need of DC to get 750 quarterly voucher.
I cancelled my DC a long time ago

 

[Strange]

No need of DC to get 750 quarterly voucher.
I cancelled my DC a long time ago

Do you have virtual DC? Can you link your Liberty account in the UPI apps after blocking your DC?

 

[tharun]

If I remember correctly, virtual DC is chargeable.

I don't think so
This is just a virtual debit card issued with Liberty savings account unlike other other account variants having e-debit card which is chargeable

 

[6ix9ine]

I don't think so
This is just a virtual debit card issued with Liberty savings account unlike other other account variants having e-debit card which is chargeable

Oh, I thought both are same 😅 thanks for clarifying. I never opted for them, so was not sure.

 

[Strange]

virtual DC is chargeable

e-Debit Card is chargeable not the Virtual debit card.

 

[6ix9ine]

e-Debit Card is chargeable not the Virtual debit card.

Yeah, I thought both are same.

 

[SSV]

I remember correctly, virtual DC is chargeable. You should permanently block it and use physical library DC only

I have virtual DC that was issued along with SBLBR. it is not chargeable..
I had permanently blocked physical DC and cancelled it