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/

 

[Mr. BeanMr. Bean is verified member.]

Bro, if you want mental peace, I suggest not opening this account. You'd better go with some other variants, maybe Burgundy.

I'd still recommend liberty account for the following reasons, if applicable (assuming one can maintain 25k)...

1. To get family banking.
2. To get pre-approved CC quickly, even for those (family members) without CIBIL.
3. As salary account, if salaried and if the person can get the salary via Axis.

The problem starts when one thinks of other benefits (mentioned in OP) that have lots of ifs and buts.

 

[6ix9ine]

Nahi mil rha bhai

mil gaya, downloaded tha PC mai tumhare liye switch on kiya

 

[Donald J. Trump]

Only ONCE FASAK 🪓 !! ..
Not much attractive now for this account to be active...
It is upto the individual to keep it or let it go...

PRO TIP for A/c Closure: For folks whose account are less than a year old. Don't close now & pay 590. Permanently disable debit card first.

As per - https://www.rbi.org.in/commonperson/English/scripts/Notification.aspx?Id=1500

"It should be ensured that the balance in the savings account does not turn into negative balance solely on account of levy of charges for non-maintenance of minimum balance."

Soooooo, if your a/c balance is Zero, they can't levy non maintenance charge to make it negative. Therefore, remove all funds from Liberty SA, if you intend to close it, then wait for a year to complete for your a/c & then close without paying a single penny in A/c Closure charges. Also since A/c balance is Rs. 0. No non-maintenance charge can be levied to make it negative. Even if they do, escalate to RBIO and yes that's how I'm planning to close it for free.