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The most common financial resolution for most of us every year is to “save some this year”. The saving could be for that dream vacation, to settle the home loan or to secure one’s future. In India, lakhs of people get hired as insurance agents. Axis Bank Insurance Agent Saving Account is an account meant to secure their future. As the name suggests, this account is specifically designed to provide them with the financial security of these Insurance Agent.
Axis Bank offers a wide range of Savings Account Schemes to help you meet all your savings goals. Not every saving account is the same. Several aspects may make a difference. These may be interest rates, minimum deposit requirement, and other fees. These factors must be considered before selecting one.
Key Features & Benefits
The Insurance Agents Savings Account by Axis Bank is the one and only bank account specially designed for those individuals selling insurance online. Because the earning and commission is never consistent and constant for any Insurance Agent. Therefore, the account helps them to secure a financial future
Interest Rate | Enjoy 3.5% of interest on your daily balance in the account, which will be credited quarterly. |
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Minimum Opening Amount | In metros, a concession in the minimum requirement of the opening deposit is allowed, starting at Rs. 5000. |
Withdrawal Limit | You withdraw up to Rs. 40,000 at ATMs and Rs. 1 lakh for shopping transactions per day. Without inviting any excess charges |
Debit Card | Visa Classic ATM-Debit Card |
Rewards | This account grants a rewards program called eDGE Loyalty Rewards Program through which you can earn cash points per transaction. Some of the fund’s transfer which gets rewarded are credit transactions for Rs. 50,000 or more through your Pensions Savings Account every month, opening an RD account of Rs. 2000 and above and starting an AxisDirect Account. |
You will get Personal Accident Insurance, additionally, of up to Rs. 2 lakh. The only condition to this is that you must the debit card at least one time in six months.
Eligibility & Requirements for Insurance Agent Saving Account
To open an Insurance Agent Saving Account with Axis Bank, you must fulfill certain eligibility criteria. Then only you can apply for this specialized account.
The Key Criteria is that you must hold a valid License of Insurance Agent in India.
You can open the Account as a single account holder or in a joint name. Depending on the number of account holders the documents for Insurance Agent Saving Account have to be submitted.
Given below are the documents required for Insurance Agents Savings Account that you have to submit with the application.
Type | Documents | Applicant |
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2 latest photographs | passport-sized | Both the applicants (if applicable), the insurance agents and the co-applicant |
Copy of any ID proof documents | KYC Documents either of PAN Card, Voters ID, Driving License, Rental Agreement, Aadhar, Passport, Job Card by NREGA duly signed by an officer of the State Government, or UIDAI Card | Both the applicants (if applicable) |
Copy of any Residential address proof | Voters ID, Driving License, Rental Agreement, Aadhar, Passport, Job Card by NREGA duly signed by an officer of the State Government, or UIDAI Card | Only the primary holder (if applying for a joint account) of the account needs to give the same along with a relationship proof between the holders. |
Fee & Other Charges
Primary Debit Card Issuance Fee | Rs. 150 |
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Yearly Debit Card Membership Fee | Rs. 150 (Metro/ Urban) Rs. 100 (Rural/ Semi-urban) |
Monthly Service Fee in Metro & Urban Axis Bank Branches | Rs 5 for every Rs. 100 of shortfall or a sum of Rs. 350 (whichever is less). This is canceled if the Average Monthly Balance (AMB) of Rs. 5,000 is retained consistently. |
Monthly Service Fee in Semi-urban Axis Bank Branches | Rs 5 for every Rs. 100 of shortfall or a sum of Rs. 250 (whichever is less). This is canceled if the Average Monthly Balance (AMB) of Rs. 2,500 is retained consistently. |
6-Monthly Service Fee in Rural Axis Bank Branches | Rs 5 for every Rs. 100 of shortfall or a sum of Rs. 750 (whichever is less). This is canceled if the Half Yearly Balance of Rs. 2,500 is retained consistently. |
ATM Withdrawal Limit | Rs. 40,000 per day |
Shopping Limit | Rs. 1,00,000 per day |
To start your career as an insurance agent, connect with our website. Let our experts guide and know ways to do sell insurance from Home. You can also be a mutual fund agent and reap double benefits.
Some of our other services also include Debt Mutual fund, Large Cap Mutual fund or Multi-Cap Mutual fund, and much more.
Visit our website Wealthbucket. You can call on +91 9999379929. Or email your queries at contact@wealthbucket.in.
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