Axis Bank Corporate Credit Card with Corporate Liability

Detailed features and benefits of the Axis Bank Corporate Credit Card can be found below:

Corporate Liability- Axis Bank Corporate Credit Card with Corporate Liability is an efficient way of administering travel policies and dealing with key providers on a preferential basis.

• The cards are issued after the company’s credit assessment which, in turn, defines the limit on individual cards.
• The company is held liable for the whole outstanding amount on the cards.
• Payment is made once a month directly to the bank instead of multiple payments to individual employees/suppliers.
• The corporate risk is reduced by the fact that the card is a charge card that is to be paid in full at the end of every month without any revolving facility permitted on the outstanding.

Airport Lounge Access– The card provides exclusive access to the airport lounges at selected airports in India.

Track and Control Expenses- Travel and entertainment expenses can be easily handled and controlled as individual employee spending limits are assigned.

Get Detailed Information about Transactions– This card enables the company to monitor expenditure and negotiate discounts with suppliers while managing employee compliance with company policies. All this can be done through an effective Management Information System.

Modify the Card- For improved association with employees, the card can be customized with a fourth line embossing in the company’s name.

Reward Points- The following reward points are provided in this card:

• Every Rs. 200 spent earns 1 point on domestic spends
• Every Rs. 200 spent earns 2 points on international spends

Fuel Surcharge Waiver- Whenever Axis Bank Corporate Credit Card is swiped at petrol pumps, a 1% refund is offered, if a transaction is made between Rs. 400 and Rs. 4,000. This credit card shall not offer any reward points for fuel transactions. GST charged on surcharge is not reimbursed.

Insurance Coverage- In case the cardholder meets with any uncertainties, Axis Bank shall provide the following insurance:

• Personal Air Accident- Rs. 4.5 crore
• Liability for lost card including forfeiture- Rs. 1 lakh
• Checked Baggage Loss- Rs. 30,000
• Baggage Delay- Rs. 30,000
• Loss of Baggage- Rs.30,000
• Missing of International Transit Connecting Flight- Rs. 10,000
• Flight Delay- Rs. 10,000

Management Information System (MIS) Benefits- A unique online MIS provides the most correct and recent information on all transactions to enhance analysis and decision making. It includes the following features:

• Helps to extract comprehensive reports and schedules
• Simple and effective expenditure reporting, reimbursement methods and reporting procedures
• Expenses analysis by time department, cost centre and supplier analysis
• Detailed reports on improved control and reduction of procurement costs
• Capabilities for flexible data extracting
• The ability to restrict access to all user levels

The following are the main fees and charges of using this card:

Fee/Charge	Amount/Rate
Joining Fee	Communicated at the time of sourcing
Annual Fee	Communicated at the time of sourcing
Late Payment Fee	3% of the total amount due or minimum Rs. 350
Penalty on over limit	3% of the over-limit amount or minimum Rs. 300
Fee for transaction in foreign currency	Mark-up of 3.5%
Charge slip recovery fee or request copy fee	Rs. 200
Cheque returned or dishonoured fee	Rs. 300

The card is available only to corporates who are approved as per the discretion of the bank.

To avail this card, one has to submit the following set of documents:

For the Evaluation of Company

• Memorandum of Association/ Article of Association
• Last two years audited annual reports and profits and loss statement
• PAN card of the company

For the Evaluation of the Company’s Credit

• Post Credit appraisal
• Board Resolution
• Application form of Corporate
• Individual employees KYC (PAN card, proof of photo identity and proof of address)

One can do any of the following, to apply for Axis Bank Corporate Credit Card with corporate liability:

• Visit any nearby Axis Bank branch
• Call customer care and place your request
• Online application through the Axis Bank’s official website.

What are the joining and annual fees on the card?

The joining and annual fee depends on Axis Bank and is applicable as fixed by the bank at regular intervals.

What is the fuel surcharge waiver?

A fuel surcharge is payable when fuel transactions are done. When the card is used, however, this applicable surcharge is waived off and cardholders do not have to pay the surcharge.