Diwali season is really on swing, every day we hear about new offers from banks. Before few days Axis bank has given special offer “Happy ending Home loan”. Axis bank is back again with two new financial products aimed at the younger section of the population and women who are home-makers.
The youth today, need a savings account that simplifies banking and delivers through technology. The Homemakers on the other hand run their homes on cash, and have little involvement with savings accounts. Their needs are more related to shopping, easy cash withdrawal and a safe place to save their extra money. Axis bank is trying to fulfill needs of youth and home maker woman through these financial products. Details about these products are given here.
The first product, named ‘YOUth account’ is targeted at the youngsters, particularly students, in the age group of 18-25 years. The key feature of this savings bank account is the zero-balance feature. That is, it does not stipulate any minimum balance requirement. The accountholders can also pull in funds from their parents’ account by mobile banking/ Net banking even they can link account with Youth account. However, the amount of funds they can pull in will be subject to a pre-set limit.
YOUth Account holders can transfer funds through their YOUth Mobile App to other accounts in Axis Bank just by knowing mobile numbers of beneficiaries. Customers can avail of offers and discounts on online retail websites, movies and other popular hangouts.
Ladies First Card:-
`Ladies First Card` is a debit card that allows homemakers to manage their household expenses better and make shopping on groceries and apparel a more rewarding experience. It also comes with a spends tracker that allows users to track their monthly expenses better and a host of other lifestyle offers. The money can also be easily loaded on the card for use through the month.
The bank is projecting reward points on groceries and apparel shopping as one of its key selling points. The users can earn five reward points for every Rs 100 spent. These points can be redeemed against gifts and gift vouchers.
Balance on the Ladies First Card earns four per cent interest a year.