ASAP Digital Savings Account is a modern digital savings account offered by Axis Bank. The standout feature of this account is that it is 100% digital, meaning you can open it without any physical paperwork or branch visits. All you need are your Aadhaar, PAN, and some basic details. The process is completed through a video verification, making it essential to use a camera-enabled device such as a smartphone or a laptop.
Benefits of ASAP Digital Savings Account
The ASAP Digital Savings Account comes packed with a multitude of benefits designed to enhance your banking experience:
- No Branch Visits Needed: One of the most significant advantages of the ASAP Digital Savings Account is that you do not need to visit a bank branch to open or manage your account. You can access over 250 services online, from transferring funds to paying bills and more, all from the comfort of your home.
- Instant Transactions: As soon as you activate your digital savings account, you can begin making safe and secure transactions. Whether it’s using your debit card, UPI, NEFT, IMPS, or RTGS, the ASAP Digital Savings Account ensures that your transactions are smooth and hassle-free.
- Virtual Debit Card: Upon opening your digital savings account, you instantly receive a virtual debit card. This card is loaded with various promotions and can be used for online transactions immediately. Additionally, a physical debit card appropriate for your account type will be sent to your listed address shortly after.
- Signature Update via Axis Mobile App: You can update your signature anytime after opening your account using the Axis Mobile app. This flexibility ensures that you can keep your account details current without any inconvenience.
Eligibility to Open ASAP Digital Savings Account
To open an ASAP Digital Savings Account, you must meet the following eligibility criteria:
- Indian Citizenship: Only Indian citizens are eligible to open this account.
- Valid PAN and Aadhaar: You must have a valid PAN and Aadhaar number.
- Mobile Number Linked to Aadhaar: Your Aadhaar should be linked to a valid mobile number.
- Age Requirement: You must be 18 years of age or older.
- Camera-Enabled Device: The device used for the video KYC process must have a functional camera.
- Applying from India: You should be applying for the account while in India.
Once you have opened your ASAP Digital Savings Account, there is no need to visit a branch. All services can be availed online, making banking more convenient and accessible than ever before.
Balance Requirements for Digitally Opened Savings Accounts
Different variants of the ASAP Digital Savings Account have specific balance requirements:
- Amaze Digital Savings Account: Initial Funding: ₹5,000, Average Balance Requirement: NIL
- Easy Access Digital Savings Account: Initial Funding: Metro: ₹16,000, Urban: ₹15,000, Semi-Urban: ₹6,000, Rural: ₹3,000, Average Balance Requirement: Metro: ₹12,000, Urban: ₹12,000, Semi-Urban: ₹5,000, Rural: ₹2,500, Virtual Debit Card Fees: Nil, Physical Debit Card Joining Fees: ₹500 + GST, Physical Debit Card Annual Fees: ₹500 + GST
- Liberty Digital Savings Account: Initial Funding: ₹25,000,Average Monthly Balance: ₹25,000 or monthly spends of ₹25,000, Virtual Debit Card Fees: Nil, Physical Debit Card: Joining Fees: ₹200 + GST, Annual Fees: ₹300 + GST
- Prestige Digital Savings Account: Initial Funding: ₹75,000, Average Monthly Balance: ₹75,000, Virtual Debit Card Fees: Nil, Physical Debit Card Annual Fees: ₹500 + GST, Physical DC Joining Fees: Nil.
- Priority Digital Savings Account: Initial Funding: ₹2 Lakhs, Average Monthly Balance: ₹2 Lakhs, Debit Card Fees: Nil
- Burgundy Digital Savings Account: Initial Funding: ₹5 Lakhs, Average Quarterly Balance: ₹10 Lakhs, Debit Card Fees: Nil
Nominee
While it is not mandatory to add a nominee to your ASAP Digital Savings Account, it is highly recommended. In case of unforeseen circumstances, having a nominee ensures that your account funds can be transferred smoothly and without hassle. You can add nominee details at the time of opening the account or later as per your convenience.
Daily Transaction Limits of Debit Card
Different debit cards have different daily transaction limits:
- Virtual Debit Card: E-commerce transaction limit of ₹1,00,000 per day.
- Visa Online Rewards Debit Card: Transaction limit of ₹5 lakh per day.
- Prestige Debit Card: ATM limit of ₹1,00,000 and POS limit of ₹5,00,000 per day.
- Priority Debit Card: Transaction limit of ₹5,00,000 per day.
- Burgundy Debit Card: Transaction limit of ₹6,00,000 per day.
- Liberty Debit Card: Daily withdrawal limit of ₹50,000 and daily POS limit of ₹3,00,000.
- You can modify these limits by logging into Internet Banking or through the Axis Mobile app.
Axis Bank ASAP Digital Savings Account offers convenience, security, and efficiency, making banking accessible to everyone, anytime, anywhere. Open your ASAP Digital Savings Account today and step into the future of banking with Axis Bank.
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