Axis Bank launches ’Infinity Savings Account’ with zero domestic transaction fees. Benefits, other details here

Axis Bank, one of the largest private sector banks in India today announced the launch of a first-of-its-kind new savings account variant – ‘Infinity Savings Account’ to cater to digitally savvy customers who are frequent adopters of subscription-based models. This innovative savings account offers Axis Bank’s customers exclusive privileges, such as waived Average Monthly Balance (AMB) requirement, complimentary debit cards, and waiver of all the domestic charges against a small monthly recurring fee of ₹150 or annual fee of Rs1650.

“We have been continuously working on innovation-led models to re-define the role we can play in the life of our customers, by elevating digital banking to new domains of customer engagement. By incorporating the principles of subscription-based models, we aim to provide our customers with a transformative banking experience, aligning with the evolving preferences and expectations of today's consumers," Ravi Narayanan - Group Executive & Head – Branch Banking, Retail Liabilities and Products, Axis Bank, said.

Customers can now choose to subscribe to the savings account and not worry about fees charged for services or maintaining minimum balances. This unique offering echoes our belief that banking should be effortless, flexible, and address the evolving needs of the customers, he added

The new variant is introduced with the aim of revolutionizing the banking experience. The customers can open the account in a completely digital manner through the Video KYC process. With its unique proposition, the Bank offers two subscription-based flexible plans - Monthly and Annual. The monthly plan is charged at Rs150 (inclusive of GST) and has a minimum subscription period of 6 months. After the initial 6 months, the plan continues on a 30-day cycle, with Rs150 deducted every 30 days. The annual plan is charged at Rs1650 (inclusive of GST) and offers Infinity benefits for 360 days. The plan is automatically renewed after this period.

This innovative banking product is designed for customers seeking a worry-free banking experience by eliminating all domestic charges, ensuring transparent banking at its finest. 

Axis Bank 'Infinity Savings Account' benefits

-No Minimum Balance Maintenance Required

-No charges on any domestic transactional fees

-Free Debit Card & unlimited ATM withdrawals

-No charges on chequebook usage or transactions/withdrawals above limits

-End-to-end digital account opening on leap.axisbank.com