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Axis Bank offers a wide range of benefits for Pension Payment accountholders under its Pension Disbursement Services. The features of the Pension Payment Savings Account includes free international debit card, personal accident insurance cover of Rs 2 Lakhs, ATM access at over 2o15 ATMS and other value-added services. Refer to the table below to learn more about the features of Axis Bank’s Pension Payments account.
The Axis Bank Pension Payment Savings Bank Account holder will enjoy all the facilities of the Axis Bank Pension Payment Savings Bank Account viz. Free International Debit Card, Personal Accident Insurance Cover of Rs 2 lacs, Usage of more than 2015 ATMs, Other Value-Add services, etc.
The features of the Pension Payment Savings Bank Accounts for Government Pensioners are as follows:
| Parameter | Features |
|---|---|
| Name | Pension Payment Savings Bank Account |
| Nature | All Pension Accounts can be Single or Joint Bank Accounts. Pension is not permitted to be paid by cash. However, Standing Instructions may be accepted and chequebook may be issued. |
| Eligibility | Identity to be established through Pension Payment Order (PPO) issued by the concerned Pension Paying Authority |
| Balance Requirement | No Minimum Balance |
| Anywhere Banking | Available at all centres |
| Cheque Books | Free Multi-city At-Par Cheque Books |
| International Debit-cum-ATM Card (Visa Card) | Joining Fee and Annual Fee applicable |
| Flexi {2-in-1} Encash Deposits |
|
| Internet Banking |
Online generation of Pension Payment slip (New Feature !!) |
| Tele-banking | Free, Available 24 hours at select centres |
| Mobile Banking Facility | As made available to Savings Bank Accounts |
| Demat Account | Account opening charges waived |
| Safe Deposit Lockers | Preferential allotment |
