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 15th November, 2025 for all existing as well as new customers. Customers who qualify for this benefit basis the transactions done till 15th November, 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/

 

[Batmanbaba]

they closed the bug last month. finally after 1 year😂😂.
now they're not giving Reward points on debit card spends.
giving points randomly.

Atleast on premium accounts getting the expected rewards

 

[thespy11]

Atleast on premium accounts getting the expected rewards

hey Batmanbaba, ihave opened hdfc account online and vkyc is done and it is showing in review ,do you have any idea how much time will it take to get a confirmation message 🙄

 

[TheTrickySid]

hey Batmanbaba, ihave opened hdfc account online and vkyc is done and it is showing in review ,do you have any idea how much time will it take to get a confirmation message 🙄

1 to 2 working days

 

[thespy11]

1 to 2 working days

ok bhai,, one more thing is it compulsory to go to branch once a year to do kyc for the account open online, saw about this in a youtube video 🤔

 

[TheTrickySid]

ok bhai,, one more thing is it compulsory to go to branch once a year to do kyc for the account open online, saw about this in a youtube video 🤔

No

 

[Batmanbaba]

hey Batmanbaba, ihave opened hdfc account online and vkyc is done and it is showing in review ,do you have any idea how much time will it take to get a confirmation message 🙄

2 working days.... Normal timeline.... But it's hdfc they are like a snail...

 

[thespy11]

2 working days.... Normal timeline.... But it's hdfc they are like a snail...

ok,now i can see debit card details in NetBanking but still no confirmation message, i think I will get the kit in next week

 

[Batmanbaba]

ok,now i can see debit card details in NetBanking but still no confirmation message, i think I will get the kit in next week

Kit comes in a week.. But their backend system is slow... I got account opening sms after I got my kit.... Till then account was freezed....

 

[gabu]

Can I open liberty account online.... is the process smooth or physical visit to branch later is a must?

 

[TheTrickySid]

Can I open liberty account online.... is the process smooth or physical visit to branch later is a must?

You can open online, no physical visit required

 

[Batmanbaba]

Can I open liberty account online.... is the process smooth or physical visit to branch later is a must?

Just be aware.. One person opened online .. But they messed up and account opened was easy access... Now he is running branch to get it rectified...

 

[Deleted member 2540]

I thought there was some trick to get 5%

I thought there was some trick to get 5% instead of actual shopping @VISHESH_BANSAL

If you have Paytm Merchant Account , Enable Debit and Credit Card Option then Scan the QR and Pay using Liberty Debit Card Directly. Make txns in Multiple of 2000 to reduce MDR charges.

This month paytm did not charge any MDR on Debit Card and Credit Card Txns, for my merchant Account.

First do test txn using One Card to Know category of merchant, if category shown in One Card App is one of the Eligible Categories, then do txn via Liberty Debit Card if same merchant name Appears on OTP page. You will get 5% Cashback

 

[jack333]

How to pay using liberty debit card directly by scanning merchant qr code?
And what's the monthly cashback limit on liberty debit card?
Thanks in advance @VISHESH_BANSAL

 

[Deleted member 2540]

How to pay using liberty debit card directly by scanning merchant qr code?
And what's the monthly cashback limit on liberty debit card?
Thanks in advance @VISHESH_BANSAL

5% upto 1000 for Birthday Month and for rest of the months 5% upto 500

You can Scan Any Paytm Merchant QR via Paytm App, if merchant has enabled debit card as a payment mode you will be able to enter card details

 

[jack333]

If you have Paytm Merchant Account , Enable Debit and Credit Card Option then Scan the QR and Pay using Liberty Debit Card Directly. Make txns in Multiple of 2000 to reduce MDR charges.

This month paytm did not charge any MDR on Debit Card and Credit Card Txns, for my merchant Account.

First do test txn using One Card to Know category of merchant, if category shown in One Card App is one of the Eligible Categories, then do txn via Liberty Debit Card if same merchant name Appears on OTP page. You will get 5% Cashback

Does paytm for business reports the annual money received to AIS of income tax if you transfer it to your merchant account which has your PAN? @VISHESH_BANSAL @Batmanbaba

 

[Patil007]

2 working days.... Normal timeline.... But it's hdfc they are like a snail...

Not able to contact HDFC customer care for Credit card issues. We need press 1,2, 3 and it goes on.

When I send email, response comes after 2-3 days.

 

[Batmanbaba]

Not able to contact HDFC customer care for Credit card issues. We need press 1,2, 3 and it goes on.

When I send email, response comes after 2-3 days.

Contact them on twitter... That is the best way and fastest

 

[Deleted member 2540]

Does paytm for business reports the annual money received to AIS of income tax if you transfer it to your merchant account which has your PAN? @VISHESH_BANSAL @Batmanbaba

Amount received from Sale of Goods is not an Income. You have to show that Amount in GST Returns

I hold a genuine merchant Account therefore no issues for me as I file GST returns. I would recommend you avoid High Value manufactured spends via any MERCHANT Account.

 

[jack333]

What about services like a saloon or a clinic which don't sell any goods? Does paytm for business report it to AIS as income?

 

[Deleted member 2540]

What about services like a saloon or a clinic which don't sell any goods? Does paytm for business report it to AIS as income?

Why will Paytm report Amount received for Sale of Goods and Services to AIS ?
Paytm is just a Payment gateway. We have to Submit Proper GST and Income Tax return otherwise High Manufactured Spend via any MERCHANT Account will land you in a big trouble if Proper ITR and GST returns is not sumbutted.