Axis Bank Corporate Credit Card Eligibility – Details on Fees & Charges, How to apply, Offers, Reward Points, Privileges and Additional Benefits on Corporate Credit Card.
Axis Bank’s Corporate Card offers the best travel and expense management solution to corporates with global acceptance and customized solutions powered by VISA.
Axis Bank Corporate Card comes with two liability options:
Corporate Liability: Corporate Liability Corporate Cards are an effective way of managing travel policies and negotiating preferential terms with key suppliers. These cards are issued after credit assessment of the corporate; who in turn defines the limit on individual cards. The corporate bears the liability for the entire outstanding amount on the cards. The payment is made directly to the Bank once a month instead of multiple payments to individual employees/suppliers. Exposure risk of the Corporate is mitigated by the fact that the card is a charge card wherein the full payment is to be made at the end of each month with no revolve allowed on the outstanding.
Individual Liability: Individual Liability Cards based on the same lines as the personal Credit Cards are an effective way for the employees to keep their personal and official expenses separate while at the same time simplifying the reimbursement process. Individual employees are assessed for assignment of credit limit on each card and are solely liable for the payment of spends done on the card.
Benefits for Corporate
- Streamlining Payments
- Keeping track of costs
- Get a better deal
- 4th Line Embossing
- Savings through Online Bookings
Benefits for the Cardholder
- Petrol Surcharge Refund
- Protection through insurance
- VIS (Visa information source)
- A unique Online MIS
Documents that need to be submitted for Corporate Liability
- For Credit Appraisal
- Audited annual Reports and Profit & Loss Statement for last two years
- Corporate Pan card
- Post Credit Appraisal
- Board Resolution
- Corporate Application Form
- KYC of Individual Employees (PAN Card, Photo ID proof and address proof)
Documents that need to be submitted for Individual Liability
- PAN/Form 60
- Income Proof- salary pay slip (latest 2 months)/Form 16/ ITR (P.Y)/Salary Certificate/Offer Letter/ Appointment letter.
- Residence proof: Passport or driving licence or ration card or electricity bill or land line telephone bill.
|Corporate Liability||Individual Liability|
|Standard Joining Fee||As agreed with company||As agreed with company|
|Standard Annual Fee||As agreed with company||As agreed with company|
|Standard Add-on Card Joining Fee||NA||Nil|
|Standard Add-on Card Annual Fee||NA||Nil|
|Finance Charges (Retail Purchases & Cash)||NA||2.95% Per month (41.75% per annum)|
|Cash Withdrawal Fees||2.5% (Min. Rs 250) of the Cash Amount||2.5% (Min. Rs 250) of the Cash Amount|
|Fee for Cash Payment||Nil||Rs. 50/-|
|Card Replacement (lost or stolen or re-issue)||Nil||Nil|
|Emergency Card Replacement Fee when overseas (through VISA)||As per VISA Global Customer Assistance Services(GCAS)||As per VISA Global Customer Assistance Services(GCAS)|
|Duplicate Statement Fee||Waived||Waived|
|Overdue Penalty or Late Payment Fee||3% of the total amount due(Min. Rs. 350)||
|Over Limit Penalty||3% of the Overlimit Amount (Min Rs. 300)||3% of the Overlimit Amount (Min Rs. 500)|
|Chargeslip Retrieval Fee or Copy Request Fee||Rs 200||Rs 200|
|Outstation Cheque Fee||Waived||Waived|
|Cheque return or dishonour Fee or Autodebit Reversal Bank A/c out of Funds||Rs. 300||Rs. 300|
|Surcharge on purchase or cancellation of Railway Tickets||As prescribed by IRCTC/Indian Railways||As prescribed by IRCTC/Indian Railways|
|Petrol Transaction Charge||Waived (For a minimum transaction of Rs. 400 and a maximum of Rs. 4,000)||Waived (For a minimum transaction of Rs. 400 and a maximum of Rs. 4,000)|
|Foreign Currency Transaction Fee||3.5% of the transaction value||3.5% of the transaction value|
|Mobile Alerts for Transactions||Waived||Waived|
|Balance Enquiry Charges||Waived||Waived|