Axis Bank|Internal

Axis Bank Multi Currency Card – Exclusive Proposal for Students of IIM &
- AXLRIs

Exclusive Offering

Priority Savings Bank Account:

 Zero balance savings account *

 8 Complimentary access to select Airport Lounges within India in a year (2 per quarter).
 Up to 45% cashback or 50X Reward points via GRAB DEALS
 Discounts on movies and dining
 Benefits up to INR 2000 per quarter via EDGE REWARD points
 Up to 50% Discount on Locker Rent
 Zero account opening fees on Axis Direct Demat & Trading Account. 25% discount on Demat
AMC of INR 750 for subsequent years

*The Priority accounts will be offered to students of both years in the Management colleges. These accounts will be
zero balance at the time of account opening and will continue to be zero balance for a period of 2 years, post which
student has to maintain AQB of INR 2 lakhs or Priority TRV as per the program. In case of non-maintenance of
balances post 2 years, account will be downgraded. All benefits of the Priority banking proposition will be offered to
the students as long as customer is a Priority account holder.

All other terms and conditions for account opening as per the laid down process of the bank will be
followed.
Axis Bank|Internal

Multicurrency Forex Card

Card Type : Personalized Multicurrency Forex Cards

Card Issuance & Reload Charges : NIL
ATM (overseas) withdrawal charges : USD 2.25 (waived off for first 3 Transactions in a Year)
Settlement Rate : IBR +/- 10 paisa

Important Points:

Settlement Rates for Card Loading/Encashment (INR Settlement):

Currency Applicable Exchange Rate

All Available Currencies (+/-) Interbank Rate Plus 10 p + Service Charges & GST

The above settlement rates for card loading/encashment would be on the basis of fixed Inter Bank Rate
(IBR) on the date of requisition. Intermittent / Periodical change of interbank rates would also be
advised at specific intervals of the day. Additionally, the option to encash the unutilized amount in
rupees is available to the Students after returning from their trip. The proceeds may be credited to the
Priority savings Account maintained with us.

The above settlement rates for (card loading / balance encashment) would be on the basis of fixed IBR
rates @ 10AM, 1PM, 3PM on the date of funding.

GST at the rate of 18% will be calculated on taxable value as determined below:

 1% of the gross amount of currency exchanged for an amount upto Rs. 100,000/- subject to the
minimum amount of Rs. 250/- i.e. minimum GST payable is Rs.45.
 Rs 1,000/- plus 0.5% of the gross amount of currency exchanged for an amount of rupees
exceeding Rs. 100,000/- and upto Rs10,00,000/- and
 Rs 5,500/- plus 0.1% of the gross amount of currency exchanged for an amount of rupees
exceeding Rs 10,00,000/- subject to maximum amount of Rs 60,000/- which caps GST payable at
Rs. 10,800/-
Axis Bank|Internal

Benefits:

 Personalization of Cards would be done with a TAT of 15 working days

 Balance enquiry may be done at all Axis Bank ATMs attached to branches in India for free of
cost. We advise the IIM Students to check Balance inquiries thru Internet Banking only while
abroad to avoid charges.
 It may be noted, that any ATM surcharge levied by the foreign Bank over and above the
standard charges are beyond the purview of the Axis Bank and any refund claim of these
charges cannot be honored by the Bank.

Charges:

 Card Issuance Fees : NIL

 Card Reload Fees : NIL
 Card Refund Fees : NIL
 ATM Cash Withdrawal Charges : Waived off for first 3 withdrawals in a year
 Cross currency usage : 3.5% on the transaction volume

The charge structure is subject to change and any change in the same is at the sole discretion of Axis
Bank. The charge structure is also updated on the website of Axis Bank, http://www.axisbank.com.

Mandatory Documents required for issuance of forex:-

 Valid Passport Copy

 Aadhar Copy
 Pan Copy
 Air Ticket Copy, Visa Copy (exempted as an exception for on arrival visa)
 Application cum Form A2
 Students Identity Card
 Passport Size Colored Photograph