Axis Bank has recently launched a new savings account known as Axis Liberty Savings Account targeting young investors. It allows young citizens to maintain a minimum balance of Rs.25,000 per month or to use the debit card of the bank by spending the same amount per month. The Axis Liberty Savings Account also comes with a complimentary insurance cover worth Rs.20,000 which covers expenses of hospitalization due to COVID-19. But is this combined deal is really a perfect choice for you?
Come let's check out some other perks of this savings account which might be right for you.
1. This product is for salaried individuals under the age of 35. The product notion tackles all the lifestyle needs of a young individual by offering a plethora of choice and flexibility such as cashback and quarterly gift voucher on your regular / weekend spending from your debit card.
2. It's targeted to individuals who are in their first 2 to 5 years of employment. It's a good step from the bank's standpoint and as a holder of Liberty Saving Account, you can earn similar interest rates as offered on regular Axis Bank saving accounts.
3. The product initiative seeks to expand the advantages of spending across the debit card and account for the customers.
4. Another incentive offered by the account is coverage. A Liberty Saving Account holder will also get a complimentary insurance cover of Rs.20,000 per year for hospitalization.
5. If you're a young job holder who needs an insurance cover as well as a bank account that offers multiple benefits and perks for lifestyle spending, then the Axis Liberty Savings Account may be perfect for you.
6. But before opting this product is essential to consider that you need to hold a minimum balance of Rs.25,000 or spend the same amount per month in order to reap the above-listed incentives.
It is important to take a look at the advantages that supports your income flow before opting a savings account. Others might provide you with superior coverage or come with a free locker facility, so if you require such additional facilities then this will be helpful for you. So before making a decision it is crucial to take a glance at all the services which are offered by a savings account.