By: OurMoneyGuide || Last updated on: March 19, 2024

The Axis Bank Insta Easy Free Credit Card is a secured card backed by your fixed deposit, and is lifetime free. Hence it is a great beginner card, especially for people who want to build your credit history.

Lifetime free cards are also very popular since a lot of people like the simplicity of such cards.

Brief Summary

Our Rating

4.0 / 5

Good card for building/re-building credit history – for those who want to build a good credit history. A good credit history helps you get the best cards and loans.

No income proof required, no credit score required since the card is issued against security of a fixed deposit.

It is also lifetime free.

Pros & Cons of Axis Bank Insta Easy Credit Card

Pros

  • Good card to build credit history, which helps you get better credit cards in the future
  • Card is lifetime free
  • The card gives you cash availability in case of emergencies – cash withdrawal limit is 100% of your card credit limit
  • Global Emergency Assistance – you get 24/7 emergency services worldwide, including replacement cards and cash advances. Perfect for frequent travellers who value peace of mind.

Cons

  • Better benefits & rewards are available on other cards
  • You need to open a fixed deposit to get this card

Features & Benefits of the Axis Bank Insta Easy Credit Card

Credit card against FD

Card is issued against your fixed deposit, minimum FD of ₹20,000 required (maximum ₹25 lakhs).

You get flexible credit limit, upto 80% of your fixed deposit amount.

Income proof is not required, credit history is also not required (since the card is issued against the security of your personal fixed deposit).

100% cash withdrawal (as much as card credit limit) on your card is allowed, hence you have full access to your money in case of emergencies.

0.60% benefit on all purchases in India

You earn 6 EDGE reward points worth ₹1.20, on every ₹200 you spend on your card (meaning ₹0.60 on every ₹100 spent – 0.60% benefit).

Exception : No reward points are given on fuel spends.

1 EDGE reward point = ₹0.20 or 20 paise. You can redeem EDGE reward points on Axis Bank EDGE Rewards platform for a range of gift vouchers, products, and more. You can access the Axis Bank EDGE Rewards platform through the Axis Bank EDGE Rewards Portal, mobile app, or Internet banking. Click here for more details.

Reward points are valid for 3 years. There is no fee for redeeming less than 300 EDGE REWARD points. A fee of ₹49 will be charged if you redeem between 300 and 10,000 points, and a fee of ₹99 will be charged for points redemption greater than 10,000 points.

1.20% benefit on purchases outside India

You earn 12 EDGE reward points worth ₹2.40, on every ₹200 you spend on your card (meaning ₹1.20 on every ₹100 spent – 1.20% benefit).

Redeeming reward points and other important information : same as explained in above section

Fuel surcharge waiver

You get a 1% fuel surcharge waiver, only on fuel transactions between ₹400 and ₹4000. And on fuel purchases upto ₹40,000 per month, since the maximum waiver amount is restricted to ₹400 per monthly card statement cycle.

Axis Bank 24/7 customer care support

Please click here for all the options to contact the bank for various issues and escalations.

Benefits from Visa

– Visa Platinum Concierge : You get a 24/7 digital personal assistant and lifestyle guide, giving you access to extraordinary experiences and exclusive privileges.
– Offers from Visa : You enjoy a variety of exclusive hotel, dining, shopping, and other lifestyle offers when you travel in Asia.
– Global Customer Assistance : This service helps you in times of need – block your card, get a replacement card and also get emergency cash

Axis Bank Insta Easy Credit Card Fees and Charges

Annual fee and annual fee offers


FeesOffers
Annual feeNil (lifetime free card)Welcome offer : You get 100 EDGE reward points , on your 1st online transaction with the card.

Late payment fee

Late payment fees depends on the total payment due

Total bill amount due
Late payment charges
Less than ₹500
None
Between ₹501-₹5000
₹500
Between ₹5,001-₹10,000
₹750
More than ₹10,000
₹1,200

Foreign currency mark-up fee
3.50% of the transaction amount. This fee is charged when you use your card outside India.

Finance charges
3.60% per month

Important Note

– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here .

Eligibility Criteria

Minimum age18 years
Maximum age70 years
Minimum income & credit score requirements– Not required, since card is issued against a personal fixed deposit (FD).
– Card can not be issued against a tax saver FD, flexi deposit, company FD, HUF FD, society FD, trust FD
– Minimum FD of ₹20,000

 

Application Process

Step-by-step guide

Online application processThe easiest way is to click here – APPLY NOW , you will be taken to the card application page on the Axis Bank website. You can also visit official website of the bank and fill out the application form.

Steps :
– The bank’s website and mobile app offer a user-friendly interface that makes the application process quick and easy
– To apply, simply provide your personal details such as your mobile phone number, income, PAN number, along with the required documents
– Review your application and click submit.
– Await confirmation from Axis Bank regarding the status of your application.
Offline (face to face)  application processYou can also visit any of the nearest branches of the bank and talk to an executive regarding the process.
Approval timeline and processThe credit card decision would be communicated within 7 working days, in most cases.

Please click here to track the status of your Axis Bank Credit Card application.

Necessary documents and verification

Required documents
No documents are required, if the address is same as that on the Axis Bank account.

If address is different, then you would be asked to produce just an address proof, other documents are not required

Conclusion

In conclusion, Axis Bank Insta Easy Free Credit Card is a good choice for a beginners who do not have a credit history, or for those who want to re-build their credit history.

It helps you build your history so that you can get more rewarding cards in the future. Moreover it is lifetime free , so you do not have to do a detailed cost benefit analysis of the card, and many consumers prefer the simplicity of a lifetime free card.

The downside obviously is the need to open a fixed deposit to get this card, you can also get better benefits & rewards on some of the other cards available in the market. Your personal needs and preferences would dictate if this is the right card for you.