Axis Bank Corporate Credit Card Most Important Terms And Conditions - Corporate Liability
Fees and charges :
Joining fees and Annual fees
There are various fees applicable on the Corporate Card issued by Bank. Such fees may vary from Cardmember to Cardmember, and from particular description of Corporate Card to Corporate Card. The applicable fees shall be as communicated to the Cardmember at the time of applying for the Corporate Card and/or at the time of issuance of the said Corporate Card. Further, such fees, as applicable, are directly charged to the Cardmembers Account and are indicated on the Card Statement accordingly.
| Particulars | Corporate Card |
| Joining Fee | As agreed with the company |
| Annual Fee | As agreed with the company |
| Cash Advance Transaction Fees | 2.5% (Min Rs. 150 for Domestic & Rs. 250 for International cash transaction) |
| Card Replacement (stolen / damaged) | Nil |
| Overdue Penalty / Late Payment Fee | 3% of total amount due (Min. Rs. 250) |
| Overlimit Penalty | 3% of the overlimit amount (Min. Rs. 300) |
| Charge slip Retrieval / Copy Request Fee | Rs. 200 |
| Outstation Cheque Fee | Rs. 100 |
| Cheque Return / Autodebit Failure Fee | Rs. 300 |
| Surcharge on purchase /Cancellation of Railway Tickets | Rs. 30/- plus 2.5% of transaction amount |
| Foreign Currency Transaction | 3.5% of the transaction value |
| Balance Enquiry | Rs. 20 for other than Axis Bank ATM centers |
These charges and conditions are subject to changes at the sole discretion of the Bank and also under various marketing programs. Service Tax of 12.36% is applicable on all fees, interests and other charges. Service tax is subject to changes as per the Ministry of Finance guidelines.
Cash withdrawal or advance fees
The Cardmember can use the Credit Card to withdraw cash from ATMs in India or overseas in accordance with the compatibility of the Credit Card at the said ATM(s). A transaction fees shall be levied on all such withdrawals and would be billed to the Cardmember in the next statement. The cash withdrawal transaction attracts a fee of 2.5% (subject to a minimum of Rs. 150 for domestic ATM withdrawal and Rs. 250 for International ATM withdrawal). The transaction fee is subject to change at the sole discretion of the Bank.
Schedule of charges and interest rates
i) All charges and fees, as applicable from time to time, are payable towards the services provided by the Bank to the Cardmember(s) and/ or for defaults/ delays committed by the Cardmember towards payments or otherwise of their respective Credit Card Account(s).
ii) The Bank exclusively retains the right to alter any/ all charges or fees from time to time or to introduce any new charges or fees, as it may deem appropriate, upon issuing at least a 30-day prior notice of such change/ alteration in the charges or fees. It is clarified that the said change may be indicated / communicated to the employer through any media chosen exclusively by the Bank in its sole discretion.
Free Credit Period
Free credit period could range from 20 to 50 days, however, if the payment is not made for two consecutive billing periods, the Bank at its discretion can withdraw the Corporate Card facility, and no further transaction will be allowed on the card until all the payments have been made in full along with applicable charges.
Late Payment Fee Calculation
Late Payment Fee is charged to the Cardmember if there has been no payment or a payment less than the Total Amount Due is received by the payment due date. Late Payment Fee is charged at the rate of 3% of Total Due Amount, subject to a minimum of Rs. 250.00.
Other terms and conditions
Credit and cash withdrawal limits
a. The Bank, in consultation with the corporate, will determine your Credit Limit and Cash Withdrawal limit and notify you of the same from time to time. Credit Limit and available credit limit will also be shown on the monthly statement. The Bank in consultation with the corporate can revise the Credit Limit from time to time.
b. The outstanding on the Card Account must not exceed the Credit Limit at any time, failing which an over limit fee will be charged, irrespective of the amount exceeding the Credit Limit. Excess amount must be paid immediately.
c. Credit Limit and Card Account will be terminated if your Card is cancelled.
Surrender of Card
You can surrender the card at any time by returning to us the Corporate Card, cut in 4 pieces through the magnetic stripe with a written request to terminate all facilities and benefits hereto associated with the card. However, termination will only be effective when we receive the Corporate Card and payment of all amounts outstanding in respect of the Card Account(s).
Loss/ Theft/ Misuse of Cards
You must notify the Bank immediately on phone, in the event the card is lost, stolen, or is being used without your permission. A police complaint/First Information Report (FIR) must be lodged immediately with the nearest police station and a copy of which must be submitted to the Bank.
Insurance Cover for Cardmembers
| No | Cover Type | Gold Corporate Card (in Rs.) | Silver Corporate Card (in Rs.) |
| 1 | Personal Accident Cover | 5,00,000 | 3,00,000 |
| 2 | Air Accident Cover | 2,00,000 | 10,00,000 |
| 3 | Lost Card Liability | 1,00,000 | 40,000 |
| 5 | Purchase protection | 40,000 | 25,000 |
| 6 | Travel Delayed Baggage | 10,000 | Nil |
| 7 | Travel-Lost Baggage | 60,000 | Nil |
| 8 | Travel-Loss of passport | 25,000 | Nil |
Personal and Air Accident Covers
The Cardmember nominee shall not be entitled to be paid any amount under Personal Accident Insurance Policy unless and until all the dues to Axis Bank are settled. Axis Bank shall have the first charge/lien on the insurance amount for adjusting the outstanding amount. Personal & Air Accident covers are valid only if the Axis Bank Credit Card has been used at Merchant Establishment or at an ATM for Cash withdrawal at least once in 90 days preceding the incident.
Zero lost card liability
Protection against fraudulent purchase transactions is available from the moment the lost of card is reported to Axis Bank. The loss of card should also be confirmed in writing to Axis Bank as soon as possible. The cover is valid only for fraudulent payment transactions. It is not valid for fraudulent ATM transactions.
Purchase Protection
All consumer durable goods purchased using the Axis Bank Credit Card are insured against fire, natural calamity, and burglary and housebreaking up to 90 days from the date of purchase.
Delay of Checked Baggage, Loss of Baggage and Loss of Passport
Delay of checked baggage is applicable in case of delays over 12 hours.
Insurance Disclaimer
Any Grievance with respect to insurance policy/Claim shall be taken up with Bajaj Allianz general insurance company and Axis Bank shall not be responsible/liable for the same
Billing and statement
a. The Bank will send at your mailing address, a statement once a month for each billing period (herein after "Statement") during which there is any transaction or outstanding of more than Rs. 100 on the Card Account. Non-receipt of Statement would not affect obligations and liabilities under this Agreement.
b. The Bank will debit the Card Account for all debits received from the merchant establishments charges incurred and credit the Card Account for all payments made by the Cardmember to the Bank and also for any payment in the favour of the Cardmember.
c. Payments received shall be adjusted towards al charges/fees in the order of first, all taxes, fees and other charges; second, cash advances, and finally purchases.
d. The payment may be made by draft, cheque, cash and/or by standing instructions or auto debit instructions to the Bank for crediting the Card Account by debiting any other deposit account maintained with the Bank. The payment can also be made through Electronic Clearing Service (ECS) introduced by the Reserve Bank of India to directly debit the account maintained with the Bank or any other bank and credit your Card Account. Outstation cheques / drafts i.e. Cheques / drafts payable at cities other than specific cities (list of such specific cities as are decided by the Bank from time to time are available on request) will attract processing fee. The fee in respect of processing outstation cheques is mentioned in the Schedule of Charges. The list of such locations and the processing fee may be changed by Bank at its sole discretion without notice.
e. Should any payment instruction for your Card be subsequently dishonored, the card privileges may be suspended / terminated and a fee, as mentioned in the Schedule of Charges shall be levied to the Card Account, at the sole discretion of the Bank. Such fee amount is subject to change at the sole discretion of the Bank.
f. Duplicate monthly statements of account will be provided by the Bank to you only up to a period of twelve months preceding your request subject to payment of service charge specified in the Schedule of Charges and which can be changed at the discretion of the Bank.
g. Incase of any change in your communication address, you are advised to contact the Bank immediately to ensure that you receive Statements regularly and or time.
Billing Disputes
All contents of the Statement(s) will be deemed to be correct and acceptable by the Cardmember(s) unless within 21 days of the issue of Statement, the Cardmember(s) inform the Bank of any discrepancies. If the aforesaid discrepancies are found to be legitimate by the Bank, the Bank may reverse the charge on a temporary basis until the completion of subsequent investigations by the Bank to its full and final satisfaction. If the said investigations conducted by the Bank indicate that the liability of such (discrepancies) charges is accruing to the said Cardmember(s), then the charge will be reinstated in the Bank shall claim the subsequent Statement and fees/ charges in accordance to the charges indicated herein above.
Contact Particulars
The cardmember can contact the Bank through any of the following modes for making any enquiries and/or redressal concerns or discrepancies:
24-Hour Phone Banking, the list of these numbers are provided on the website, on the reverse of the card statement, the plastic card and the welcome kit.
Through email, at customer.services@axisbank.com
Grievance Redressal
In case the cardmember has any grievance or is not satisfied with the response received on their enquiries, the cardmember can address the grievance to
Head Customer Services, Cards
Axis Bank Ltd.
Unit #6, Corporate Park, Sion Trombay Road,
Chembur, Mumbai 400 071
Telephone - 022-2526 1201
For escalations, please contact
Head Cards Operations
Axis Bank Ltd.
17th floor, Maker Towers, 'E' wing,
Cuffe Parade, Colaba, Mumbai - 400 005
Tel.: 022-6707 1944
In case of any grievance you could also call up our Toll Free Number at 1860-425 8888
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