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.

---

★ 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/

 

[Credit_Cards]

I am interested to open a savings bank account with Axis Bank especially the Liberty Savings Account but deterred seeing no many negative reviews and suggestions from people about the high charges, monthly account maintenance charge even after maintaining amb, consolidated charges, sms charges, etc.
Please suggest and guide me if it would be a good option to open Axis bank account or I should completely avoid it.
PS: I do hold a credit card relation with Axis bank
Thank you!

looking for cashback etc? its axis nothing will be awarded easily but those who can harvest can be on beneficial side.

If looking for general banking look else where

 

[dvader]

I am waiting for OPs post after three months "Axis bank F***ed me, please help" 😀

Jokes apart @OP please read @SSV 's comment. Most probably you don't need an Axis account. Unless you are a masochist then no judging go for it.
😀

 

[SSV]

I am waiting for OPs post after three months "Axis bank F***ed me, please help" 😀 😀

This is ultimate 🤣 🤣🤣
.
.
FASAK 🪓

 

[dvader]

Motion to start a dedicated TF Advisory Section for products, services, entities, and organizations to stay away from. This section would cover legit entities engaged in anti-consumer antics systemic in nature. I am not talking about an individual facing issues in one of the branches but things more systemic and bigger in scale. Also, this won't cover scams and frauds but legit products deceiving you with fine print, exuberant fees, and anti-consumer policies.

The section can be named "You have been warned"

We will avoid a lot of threads that keep popping up every three months.

 

[kuchbhikuchbhi is verified member.]

Axis mai credit card tak sahi hay
Go for HDFC/IDFC
for having better mental peace

or rather try to become CENT QUEEN iykyk

 

[kayser]

I am planning to open liberty savings account after closing my axis account...can you please elaborate the process of earning cash back via cc bill pay and spending 25 k monthly process...this thread has 300 pages ..kindly please help me...what to do...

 

[Shubham7]

Liberty account holders check out ur emails/promotions tab✔️
View attachment 80265
Got similar offer last month in December as well.

I am planning to open liberty savings account after closing my axis account...can you please elaborate the process of earning cash back via cc bill pay and spending 25 k monthly process...this thread has 300 pages ..kindly please help me...what to do...

1 le page me sab likha hua hai

 

[BhaiyaJi]

I am planning to open liberty savings account after closing my axis account...can you please elaborate the process of earning cash back via cc bill pay and spending 25 k monthly process...this thread has 300 pages ..kindly please help me...what to do...

You can just upgrade, why close and then open again ?

 

[sayantandas]

Here's two better optns for you and how they are fare for your needs

Hdfc Bank

1. Savings Max Account (25k mab balance req) free cheque, plat DC which gives 1%CB
2. Plat DC ( 1% CB) no annual fee
3. Ahh not top notch; but will get your work done
4. Things like Branch Transfer, Family Banking if you want Rupay Plat Dc; all have to be requested offline. Hdfc has introduced Expressway last year wherein you can update email, address, phone online. ( some have good experience with it; few (including me) bad)

Icici Bank

1. Open a Family 360[ if you have Icici Cc with 4L limit; it can be 0 balance ] else 1L mab across family. Free DC, cheque book etc.
2. naa, Icici is not really the CB giving type of Bank
3. Certainly one of the best.
4. Well suited for only online operation

Liberty is good at offers and all. I am assuming you know all that after going through the TF thread pasted by member above.
But peace of mind and unnecessary deductions is something that even a Priority Banking Customer cannot give you assurance for 😆

Thanks for your input. I will definitely look at them as well.
Yes, I am aware of that.
😆😆

 

[6ix9ine]

Thanks for your inputs.
I expect these from my account:

1. A good and stable account without too much hassle and unnecessary balance deductions
2. Cashback if provided well and good. If not, then also fine. Not a deal breaker
3. Yes, definitely top notch internet and mobile banking
4. Limited offline branch visits as I would mostly operate it online

Your first point doesn't align with Axis. They can and they will deduct by saying "consolidated charges" and you can only wonder why it's happening.

Since you already got the credit card, you may know axis very well then.

Based on your expectations, you should not open account in axis and look for other alternatives.

If you are still fine with it, and ready to fight back till pno/rbio level, you are more than welcome to open an account.

 

[sayantandas]

Have you got any other SB accounts?
What made you to consider opening a sb account in Axis considering there are many other banks in the market? ie what is the attractive feature with regard to Axis in your view?
Have you tried to compare other banks sb accounts with regard to what you are looking for in a bank account?

Yes, I have Indusind SB account
I thought of axis because 1) they have a branch near my home, 2) I hold a credit card relation with them and I have not many problems with them so thought of opening an account there. As for the attractive feature, I saw with liberty SB account they were offering weekend discount offers and protection benefits it offered.
I want to switch from Indusind as I am not getting good service from them in my area.

Frankly speaking, I am open to other banks as well. It is not like that I am restricted to Axis only.
I was considering Axis and wanted suggestions from TF community members. If Axis is bad, I will certainly look other banks' SB accounts.
Thanks for answering!

 

[sayantandas]

Based on my experience with axis liberty savings account trust me never use any axis product such as od account,loan ,cc anything axis is axes🪓
For more details refer my threads what axis done to me

Thanks for the heads-up. Much appreciated.
I will certainly take your suggestion and look at the thread. Can you please share the link.
By the way, I am new to the community and have not checked your thread.

 

[sayantandas]

looking for cashback etc? its axis nothing will be awarded easily but those who can harvest can be on beneficial side.

If looking for general banking look else where

Thanks for the heads-up. Much appreciated.

 

[kayser]

You can just upgrade, why close and then open again ?

My account varient does not support upgrade

 

[kayser]

1 le page me sab likha hua hai

I cant see where to spend using debit card...only saying merchant

 

[sayantandas]

I am waiting for OPs post after three months "Axis bank F***ed me, please help" 😀

Jokes apart @OP please read @SSV 's comment. Most probably you don't need an Axis account. Unless you are a masochist then no judging go for it.
😀

Thanks for the heads-up. I will definitely keep this in mind.
😆😆😆

 

[sayantandas]

Motion to start a dedicated TF Advisory Section for products, services, entities, and organizations to stay away from. This section would cover legit entities engaged in anti-consumer antics systemic in nature. I am not talking about an individual facing issues in one of the branches but things more systemic and bigger in scale. Also, this won't cover scams and frauds but legit products deceiving you with fine print, exuberant fees, and anti-consumer policies.

The section can be named "You have been warned"

We will avoid a lot of threads that keep popping up every three months.

That would be much appreciated and help others in the long run!

 

[sayantandas]

Axis mai credit card tak sahi hay
Go for HDFC/IDFC
for having better mental peace

or rather try to become CENT QUEEN iykyk

Thanks for the heads-up.
I will definitely look at HDFC/IDFC

 

[sayantandas]

Your first point doesn't align with Axis. They can and they will deduct by saying "consolidated charges" and you can only wonder why it's happening.

Since you already got the credit card, you may know axis very well then.

Based on your expectations, you should not open account in axis and look for other alternatives.

If you are still fine with it, and ready to fight back till pno/rbio level, you are more than welcome to open an account.

Thanks for the heads-up. I will look for other alternatives. My time is more precious than haggling with them (including pro level) so would take your advice.

 

[sayantandas]

Thanks to all the TF community members for addressing my query and providing valuable feedback. Much appreciated!

To me, my time is more precious ( my hard earned money as well) than haggling with Axis (even at Pno level).
I will avoid Axis to have a peace of mind and look for other banks' SB accounts.