Axis ASAP Digital Account with Video KYC

What Does Axis ASAP Digital Account Mean?

The Axis ASAP Digital Account is an online savings account offered by Axis Bank. It can be opened instantly through a completely digital process. It is designed for users who want a quick, hassle-free account opening experience without visiting a bank branch. It enables you to do digital banking with video KYC verification. Some Axis ASAP account features include:

• Instant Account Opening: You can open the account within minutes through Axis Bank’s website or mobile app.
• Minimum Documentation: The account is paperless, and for e-KYC verification, only your Aadhaar and PAN details are required.
• Zero Balance Account Option: Certain account variants do not require a minimum balance to be maintained.
• E-Debit Card: A virtual debit card is issued instantly and can be used for online purchases or ATM withdrawals. Once active, you can also check your balance or recent transactions using the Axis Bank mini statement service.
• Interest Rates: The account earns interest like a regular savings account. The interest rate may vary based on the balance in the account.
• Online Banking Features: You can access Axis mobile and internet banking and other digital services like UPI payments.

Video KYC Benefits for Axis ASAP Digital Account Opening

Video KYC offers several benefits for digital account opening. Hence, the process is more efficient and convenient. Here are the key benefits of a video KYC:

Convenience: Customers can complete the KYC process from their homes without visiting a bank branch, making it easier to open an account anytime and anywhere.

Time-Saving: Video KYC is much faster than traditional in-person KYC. The entire process can be completed within minutes, saving the customer and the bank significant time.

Paperless Process: The entire process is digital, eliminating the need for physical documents. This reduces paperwork and makes the process more environment-friendly.

Secure and Safe: Video KYC uses encryption and other security measures to protect the customer’s personal information, making it a secure way to verify identity.

Cost-Effective: For banks, conducting KYC through video reduces the costs of handling physical documents and in-person verification.

Real-Time Verification: The process allows for real-time verification of the customer’s identity, enabling quicker approvals and reducing delays.

Improved Accessibility: It allows people in remote areas to open accounts and access banking services without the need to travel to a branch.

Unlock Personal Loan offer From Axis Bank

Quick, easy & instant Approval.

Apply Now

Steps to Axis ASAP Digital Account Opening with Video KYC

Axis ASAP digital account opening has a step-by-step process. But before jumping to that, it is equally important to understand the eligibility criteria:

Eligibility Criteria

To open an Axis ASAP Digital Account with video KYC, you need to meet the following eligibility criteria:

• Age Requirement: You must be 18 years old to open an account.
• Indian Resident: Only Indian residents with valid Aadhaar and PAN cards can open this account.
• Valid Aadhaar and PAN: Your Aadhaar number must be linked to your mobile number for OTP-based authentication during the e-KYC process. You must provide a valid PAN card for identity verification.
• Mobile Number Linked to Aadhaar: For successful OTP verification, the mobile number you use during registration must be linked to your Aadhaar.
• Internet Access: Since the process is entirely digital, a stable internet connection is required to complete the video KYC and other online steps.
• Not an Existing Axis Bank Customer: You must not have any existing savings account with Axis Bank. It is typically for new customers.

Steps for Axis ASAP Digital Account Opening

Opening an Axis ASAP Digital Account with video KYC is straightforward and online. Here are the steps to follow:

Step 1: Go to the Axis Bank website or download the Axis Bank mobile app from the Google Play Store or Apple App Store.

Step 2: Find the option for opening an Axis ASAP Digital Account on the homepage or app.

Step 3: You will be asked to provide basic information, such as:

• Mobile number (you will receive an OTP for verification)
• Aadhaar number (linked to your mobile number for e-KYC)
• PAN number

Step 4: Select the Axis ASAP Digital Account type you wish to open (e.g., zero-balance account or others).

Step 5: Complete the Video KYC to proceed further.

Step 6: Once the Video KYC is completed, your details will be verified, and the account will be instantly approved.

Step 7: You will receive a virtual debit card immediately. If a physical debit card is part of your account type, it will be dispatched to your address. You can use mobile banking, internet banking, and other services when your account is activated, also can download your Axis Bank statement for record-keeping and expense tracking.

Video KYC Completion

Completing video KYC for your Axis ASAP Digital Account involves simple steps. Here’s how to complete the process:

Step 1: Start the Video KYC Process

• You’ll initiate the video KYC session after entering your basic details (Aadhaar, PAN, mobile number).
• Make sure your Aadhaar is linked to your mobile number for OTP verification.

Step 2: Prepare Your Documents

• Keep your Aadhaar card (original or e-Aadhaar) and PAN card (physical copy) ready.
• Ensure you have a stable internet connection and a device with a working camera and microphone (laptop, smartphone, or tablet).

Step 3: Join the Video KYC Call

• You will connect with a bank representative through a video call.
• You will be asked to display your Aadhaar and PAN card clearly on the camera for verification.

Step 4: Answer Identity Verification Questions

• The bank officer may ask you basic questions to confirm your identity, such as:
• Name and date of birth.
• Father’s name and current address.

Step 5: Live Photo Capture

• During the call, a live photo of you will be taken to match your identity with the documents provided.

Step 6: Document Verification

• The officer will verify the details of your Aadhaar and PAN to ensure they match the details provided in the application.

Step 7: Completion and Confirmation

• Once the verification is complete, the bank representative will confirm the successful completion of the Video KYC.
• The process usually takes 5 to 10 minutes.

Axis ASAP Digital Account Limit & Charges

Here are the fees and charges of the Axis ASAP Digital Account:

Below are the transaction limits:

1. Daily Purchase Limits:

• Virtual Debit Card: ₹1,00,000 daily limit for e-commerce transactions.

1. ATM Withdrawal Limits:

• Liberty Digital Savings Account: ₹50,000 per day.
• Prestige and Priority Debit Cards: ₹1,00,000 daily limit for ATM withdrawals.

1. Pre-KYC Transaction Limits:

• As per RBI regulations, accounts are restricted to a maximum balance of ₹1,00,000 until the video KYC is completed.

Axis Bank Personal Loan Interest Rate

Get the Best Rate for Your Needs

Check Now

Things to Keep in Mind Before Starting Video KYC Account Registration

Here are key factors to keep in mind about the Axis ASAP Digital Savings Account with video KYC:

Account Type and Variants

Axis ASAP digital account opening offers different variants, including zero-balance and regular savings account options. Choose based on your needs, such as maintaining a minimum balance.

Account Activation

Your account is activated only after completing the video KYC account registration. Ensure you complete the process to access full account features like debit cards and internet banking.

Eligibility Criteria

You must be an Indian resident, over 18 years old, and have a valid Aadhaar and PAN card. Your Aadhaar must be linked to your mobile number for OTP verification.

Transaction Limits Before Video KYC Completion

Before completing video KYC, your account will have certain restrictions, such as:

• A maximum deposit limit of ₹1 lakh.
• Withdrawal and other transaction limits as per RBI regulations.
• These restrictions are lifted after completing the full KYC.

Document Requirements for Video KYC

Keep your Aadhaar and PAN ready during the video call. Ensure the documents are clear and readable on camera.

Internet and Device Setup

You need a stable internet connection and a working device with a camera and microphone for the video KYC process.

KYC Verification Process

A bank representative conducts the video KYC account registration. The representative will verify your identity by asking you to show your documents during the video call. The process is quick, typically taking 5 to 10 minutes.

No Physical Visit Required

The entire process, including KYC, is completely online and paperless. You don’t need to visit any Axis Bank branch.

Charges and Fees

While the zero balance account does not require a minimum balance, certain charges for services like a physical debit card or additional facilities may apply. Check the terms and conditions for any applicable fees.

Interest Rates

The account offers interest on the balance like a regular savings account, and the rate may vary depending on the balance maintained.

Transaction Options

Once the account is fully active, you can use internet banking, mobile banking, UPI payments, and other digital payment methods.

Limited Validity for Partial KYC

If video KYC is not completed, the account may have limited validity per RBI norms, leading to transaction restrictions or eventual deactivation.

You may also like!

Wrapping Up

The Axis ASAP digital account opening offers secure online access and flexibility, whether you are looking for a zero-balance option or additional banking features. The online account opening with video KYC is quick and efficient, allowing you to start banking in minutes from the comfort of your home.