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/

 

[jack333]

Yes but they give after every quarter when you complain

 

[ashwinkashwink is verified member.]

Recived the same message..

A/c No. XXXX may have a low balance on Jan 23. Maintain balance in Feb23, to avoid charges. In case of nil avg bal for 2 consecutive months, your existing Savings A/c shall be auto-migrated to Basic Savings A/c. Visit the website/Internet Banking/Branch for details. Ignore, if A/c is funded - Axis Bank.

Received this for my Axis liberty account. Although I don't maintain 25k mab, I do merchant transactions way more than 25k. So as per their terms, it should be zero mab. I also got voucher for last quarter.
Did any of you liberty acc holders receive such sms?

 

[Deleted member 2540]

Recived the same message..

I received such messages almost every month. We have to maintain 25k. If 25k is not maintained system will trigger Non-Maintence SMS before the month ends so that we can Maintain sufficient Balance to make AMB equivalent to 25k

But on spending 25k we get NMC waiver.

Eligibility of Account for NMC waiver in current month may be decided by Axis next Month, that is why Who is not maintaining 25k AMB System Automatically trigger Non-Maintence SMS to that customer

 

[Deleted member 2540]

Yes.... These all are merchant transactions....

Does loading kotak 811 or indusind or paying credit card bill at mobikwik or amazon count as P2M for 5%

Does loading kotak 811 or indusind or paying credit card bill at mobikwik or amazon count as P2M for 5% weekend cashback? @Batmanbaba @VISHESH_BANSAL @hariks789

For 5% Cashback you have to Spend on Food, Entertainment Shopping and Travel using Liberty debit Card only.

Spends mentioned by you are eligible for getting Rs.750 Quarterly Voucher but not eligible for getting 5% CB

 

[Deleted member 2540]

Sorry a noob question, where and how to check if a transaction is P2M? I mean where exactly it shows this?

In Case of a UPI txn Just check SMS or E-Mail that comes after the txn. If in Txn Narration UPI/P2M/....... is written, that txn is a valid spend for getting 750 Quarterly Voucher

Txns via Debit Card or Netbanking is always a valid Spend as of now for getting 750 Quartely Voucher

 

[Sevendar@01]

For 5% Cashback you have to Spend on Food, Entertainment Shopping and Travel using Liberty debit Card only.

Spends mentioned by you are eligible for getting Rs.750 Quarterly Voucher but not eligible for getting 5% CB

How much time does it take to credit 5% cashback and is grocery included?

 

[Deleted member 2540]

How much time does it take to credit 5% cashback and is grocery included?

Grocery is included as I also spend on Grocery for weekend CashBack.

Credit of CashBack depends upon Axis Mood.

You have to ask them over twitter via DM for crediting 5% cashback then they will tell you when and how they will Credit it.

As per My experience I have never received Cashback automatically.

For Cashback of July 22 to Dec22 I have asked them.

They replied in the month of Feb23 eligible Customers will receive a link over the Registered E-Mail ID to claim the eligible cashback for Previous Months.

Before July 2022 I am receiving direct Credit to Account whenever I DM axis on twitter

Axis Customer Support is a headache and I can't bear such headache monthly.

So I DM axis Quartely or every six months

 

[Sevendar@01]

Grocery is included as I also spend on Grocery for weekend CashBack.

Credit of CashBack depends upon Axis Mood.

You have to ask them over twitter via DM for crediting 5% cashback then they will tell you when and how they will Credit it.

As per My experience I have never received Cashback automatically.

For Cashback of July 22 to Dec22 I have asked them.

They replied in the month of Feb23 eligible Customers will receive a link over the Registered E-Mail ID to claim the eligible cashback for Previous Months.

Before July 2022 I am receiving direct Credit to Account whenever I DM axis on twitter

Axis Customer Support is a headache and I can't bear such headache monthly.

So I DM axis Quartely or every six months

Ok so before it was getting credited into your account without any hassle and how much time does it use to take?

 

[Deleted member 2540]

Ok so before it was getting credited into your account without any hassle and how much time does it use to take?

Even Before July 22 I have to DM axis over twitter and for Jan22 to June 22 I have to raise complaint on RBI BANKING OMBUDSMAN Portal beacuse Axis was denying the cashback for certain txns which are eligible.

Even After raising Complaint to RBI BANKING OMBUDSMAN attitude of axis Bank is still same.
Even now I have to remind them to credit eligible cashback.

5% cashback is just for attracting Customers.
Axis would never credit eligible cashback automatically without receiving Customer Complaint as per my Experience of two years

 

[Avishma1]

Grocery is included as I also spend on Grocery for weekend CashBack.

Credit of CashBack depends upon Axis Mood.

You have to ask them over twitter via DM for crediting 5% cashback then they will tell you when and how they will Credit it.

As per My experience I have never received Cashback automatically.

For Cashback of July 22 to Dec22 I have asked them.

They replied in the month of Feb23 eligible Customers will receive a link over the Registered E-Mail ID to claim the eligible cashback for Previous Months.

Before July 2022 I am receiving direct Credit to Account whenever I DM axis on twitter

Axis Customer Support is a headache and I can't bear such headache monthly.

So I DM axis Quartely or every six months

I have opened Axis liberty savings account 2 days ago after reading this forum. I deposited 32500 as initial deposit and have paid cc bills for 5100 and they have also charged around rs. 250 for debit card fee.

My confusion is : If I pay cc bill through postpe, Amazon, mobikwik or paytm using liberty debit card are these transactions elligible for
1. 5% cashback if payment made on weekends.
2. Rs. 750 quarterly voucher if I met the eligible spend every quarter.
3. 25k MAB waiver if I pay cc bills for more than 25k every month

Please let me know how all 3 points can be achieved, it will be greatly appreciated.

 

[Bodhi]

I have opened Axis liberty savings account 2 days ago after reading this forum. I deposited 32500 as initial deposit and have paid cc bills for 5100 and they have also charged around rs. 250 for debit card fee.

My confusion is : If I pay cc bill through postpe, Amazon, mobikwik or paytm using liberty debit card are these transactions elligible for
1. 5% cashback if payment made on weekends.
2. Rs. 750 quarterly voucher if I met the eligible spend every quarter.
3. 25k MAB waiver if I pay cc bills for more than 25k every month

Please let me know how all 3 points can be achieved, it will be greatly appreciated.

+1

 

[Deleted member 2540]

I have opened Axis liberty savings account 2 days ago after reading this forum. I deposited 32500 as initial deposit and have paid cc bills for 5100 and they have also charged around rs. 250 for debit card fee.

My confusion is : If I pay cc bill through postpe, Amazon, mobikwik or paytm using liberty debit card are these transactions elligible for
1. 5% cashback if payment made on weekends.
2. Rs. 750 quarterly voucher if I met the eligible spend every quarter.
3. 25k MAB waiver if I pay cc bills for more than 25k every month

Please let me know how all 3 points can be achieved, it will be greatly appreciated.

You have to do Actual shopping txns on weekends for 5% CB.
CC Bill Payment is not shopping.
Eligible Categories for 5% CB are Food Entertainment Shopping and Travel only.

Point 2 and 3 which you mentioned are Valid for CC Bill Payments

 

[krishc]

You have to do Actual shopping txns on weekends for 5% CB.
CC Bill Payment is not shopping.
Eligible Categories for 5% CB are Food Entertainment Shopping and Travel only.

Point 2 and 3 which you mentioned are Valid for CC Bill Payments

can you specify which MCCs come under shopping
e.g. are 5311, 5411 for groceries & departmental stores included for shopping

 

[Batmanbaba]

can you specify which MCCs come under shopping
e.g. are 5311, 5411 for groceries & departmental stores included for shopping

Nobody knows the mcc under shopping.... Its a hit and miss... Axis has not specified anything....

 

[Avishma1]

You have to do Actual shopping txns on weekends for 5% CB.
CC Bill Payment is not shopping.
Eligible Categories for 5% CB are Food Entertainment Shopping and Travel only.

Point 2 and 3 which you mentioned are Valid for CC Bill Payments

Thanks for the prompt reply. 🙏

 

[Deleted member 2540]

can you specify which MCCs come under shopping
e.g. are 5311, 5411 for groceries & departmental stores included for shopping

Now Axis has Introuced a new feature under Netbanking.

I noticed this feature in Dec22

In the new Section Called "My Money" Spends are Classified month wise and Category Wise .
That means Now you can check Category of each txn done via debit card or credit card Classified as per the MCC received by Axis Bank from the Merchant or Payment Gateway

I had performed txns on Various Categories in past few months and each txn is Classified correctly

So go and Check you txn details in this new Section

If your Liberty Debit Card Txn is reflecting under the head Shopping or Food or Entertainment or Travel You will get 5% Cashback otherwise no Cashback.

So no more questions on this topic
"whether this txn is eligible or not"

Check new Section Now and find answers of your question yourself

 

[TheMentalist]

In Case of a UPI txn Just check SMS or E-Mail that comes after the txn. If in Txn Narration UPI/P2M/....... is written, that txn is a valid spend for getting 750 Quarterly Voucher

Txns via Debit Card or Netbanking is always a valid Spend as of now for getting 750 Quartely Voucher

Netbanking spends are also considered?? Like if we add money to Paytm or Amazon using Netbanking, it would be considered under 25k/60k spends??

 

[Deleted member 2540]

Netbanking spends are also considered?? Like if we add money to Paytm or Amazon using Netbanking, it would be considered under 25k/60k spends??

Yes

 

[Anil_SinghAnil_Singh is verified member.]

Yes, You can confirm the same by checking axis app statement, it will have P2M for all merchant transactions.
For 5%, I am not sure if all merchant categories count.

Loading amount using kotak-811 is now showing 'ECOM PUR' not 'P2M'.
According to https://application.axisbank.co.in/webforms/axis-support/sub-issues/Bank-SB-statement-3.aspx , its an 'Online Debit Card Purchase Transaction'. Will the transaction count for MAB waiver?

 

[ashwinkashwink is verified member.]

Loading amount using kotak-811 is now showing 'ECOM PUR' not 'P2M'.
According to https://application.axisbank.co.in/webforms/axis-support/sub-issues/Bank-SB-statement-3.aspx , its an 'Online Debit Card Purchase Transaction'. Will the transaction count for MAB waiver?

Yes it's eligible