How I Earned Rs.2500 Cashback with Axis Bank Priority Debit Card

By | March 1, 2017

All of us are searching hard to find the best credit card with higher reward rate through points or as direct cash back. But we’re missing out some unbelievable offers that are available even on debit cards. Once such card is axis bank’s priority debit card that can easily save you 10% of your spends made online. Let’s dive into the details.

Cashback Offer details on Axis Bank Priority Debit Card:

Priority Customers spending Rs. 20,000 or more, online, in a quarter on their Priority Debit Card (only online spends) will get to choose from one of the below mentioned rewards, every quarter:

  1. 10% Cash back capped at Rs 2500 / quarter (or)
  2. Option to convert above cash back to equivalent eDGE loyalty points

Quarter” is defined as below:

  1. “1st January to 31st March”
  2. “1st April to 30th June”
  3. “1st July to 30th September”
  4. “1st October to 31st December”

So basically you need to spend Rs.25,000 online in a span of 4 months to avail a maximum cashback of Rs. 2500, considering 4 quarters in a year, that’s about Rs.10,000 in savings just for using a DEBIT card.

It’s a perfect fit for most of the families who spend about 1Lakh on the card, on quick research I just realized most of my friends are fitting in to this category and they can save 10k very easily. But the downside is the minimum balance that you need to maintain to avail this card.

Redemption:

Once you’ve done the purchase, wait for a week or two and then you can claim the offer by clicking the offer page which pops up at the bottom of the screen once you login to the net banking a/c. Its a 2 click process and you get the funds on your linked savings a/c instantly as below.

How to get Axis Bank Priority debit card:

  • Open priority savings ac with 2 Lakh balance
  • You need to maintain AQB of 2 Lakh to keep this card free.
  • If you’re upgrading your ac from regular savings ac to priority, ask them to issue priority debit card post account upgrade.

My account upgrade was a big headache and as it fell under the demonetization days, it went worse. It took them about 2 months to upgrade my ac, but if your planetary positions are good, you may get it done in a week or two. It’s relatively easy to open a new priority ac on other hand.

So from the array of debit cards, this is the BEST DEBIT CARD you can ever have in the cashback perspective and next comes the HDFC debit card that gives you 1% cash back on both online/offline spends upto Rs.750 a month.

  • Cardexpert Rating: 5/5 

Do you use this axis bank priority debit card? Share your views in comments below.

55 thoughts on “How I Earned Rs.2500 Cashback with Axis Bank Priority Debit Card

  1. Captain Bishuddha Bharatiya

    4 days ago I opened a priority account with Axis Bank. Thanks a lot for this amazing information. As always bank representative has not informed me about this offer.
    I want Axis credit card so i have opened this account.
    Should I apply for credit card immediately or should I wait for 6 months ?
    My annual income is Rs. 3.27 lakhs any my CIBIL is 783.

    Reply
    1. Siddharth Post author

      Do some txns for them to enable the CC offer automatically. If its new a/c, yes you need to wait for 6 months to get the card based on txn.
      You can also get based on ITR.

      Reply
  2. Kapil Khurana

    Well Sid, there is one more cashback debit card in your kitty. The IndusInd signature one. You earn Rs. 1500 on spending Rs. 62,500; which is equivalent to 2.4%. You can get this every month (18k benefit annually)

    The condition is that 62,500 or more needs to be spent in one single transaction as they have tiered reward structure.

    And now the best part – you don’t even need to do this spending to earn Rs. 1500 every month. Just pay your any credit card bill using Indus net banking, and choose to pay using your debit card instead of bank account on Indus banking page. Done!

    IndusInd bank will treat payment as spends on its debit card and will offer you reward points.

    Reply
    1. Siddharth Post author

      Yes, i’m availing this every month for about an year.
      But never know it can be used for credit card bill pay. Anyways i don’t have Indusind CC. Will look into this though.
      Thanks for the info 🙂

      Reply
      1. Kapil Khurana

        You don’t need IndusInd cc necessarily. Any cc bill (hdfc / stanC/ kotak etc) paid using indusnet, will do good. BillDesk facilitates this. Once you are asked to login to Indus net banking, make sure you pay using the debit card instead of bank account.

        Reply
        1. Siddharth Post author

          That’s pretty much awesome trick then!
          Will be useful for many. Will make a separate article on that sometime 🙂

          Reply
          1. Abhishek Roy

            I don’t know if it will work. IndusInd specifically mentions that such transactions by debit card under the netbanking section won’t qualify for IndusMoney Points. Can anyone confirm this?

          2. Rohit

            This does not work on indusind debit card. Although the bill pay banner says it will be treated as a debit card spend, sadly it does not qualify to get reward points 🙁

  3. Captain Bishuddha Bharatiya

    I was thinking of adding money from this card to paytm and than from paytm to bank. I have to do this in multiples of Rs. 5 thousand. Hope it will be considered as online transaction. So I will get cashback in March right ?
    I can also add my family members to my Priority account and they will also get priority debit card for free. I can get cashback from their accounts also.

    Reply
    1. Siddharth Post author

      Yes, technically you will get. Yes, you can add family members as well and get cards for them too.

      Reply
    2. Mouli

      Hi,
      Have you got the cashback for using it in Paytm ?

      Reply
  4. Naraju

    Can any one suggest Best Debit card or Credit card which offers maximum rewards and I should be able to convert that rewards into Cash directly and maintain less minimum balance in case of savings account like up to 50k average balance. Like similar to HDFC debit card (I am using it right now) which offers 1% cashback irrespective of type of transaction.

    Thanks for your valuable information.

    Reply
  5. Harmeet Gulati

    Hi Sid, I just came across to your website and I am loving it.

    Just to analyse this offer further, Axis Bank wants you to maintain 2 lac rupees AQB which means that you will be only getting a 4% ROI on the 2 lac locked account. If I compare it to tax free ROI in the market, we are losing 3-4% as an opportunity cost. This equals anywhere between 1500 to 2000 INR per quarter. So, net net, I am only saving 500 to 1000 rupees from this deal per quarter.

    Now the question is that is it worth maintaining a new account for 2000 to 4000 / year?

    Reply
    1. Siddharth Post author

      Its not for you if you have this perspective, yes you’re right, you can get better returns on other investments 🙂

      Reply
  6. thomas

    Terms & Conditions

    please note that in terms and cond.. it says no rewards for debit under netbanking, please elaborate how if we pay cc bills using debit card we can get rewards

    The below Terms & Conditions will need to be applicable for the rewards payout

    Transactions made on merchant categories – Mutual Funds, insurance and payment to government will not earn these additional Indus Money points.
    These points will be capped to a maximum per month limit of 2000 points for Platinum Cards and 3000 points for Signature Cards.
    All other IndusMoney Terms and conditions of Platinum Card apply.
    Transactions done via Debit Card under the NetBanking section will not be eligible for IndusMoney points.

    Reply
    1. Kapil Khurana

      Yes you are right Thomas. Debit card used for payment via net banking didn’t give me the points. It was actually a parallel transaction which did.

      Sorry for the confusion.

      Thanks for clarifying.

      Reply
      1. Anil

        what were those parallel transations? If you can throw some light

        Reply
        1. Kapil Khurana

          @Anil – it was Muthoot gold loan repayment using debit card.

          Just wondering most of the app based banks allow native account funding via debit cards of other banks. Is that funding treated as transaction, and gets reward points/cashbacks? Can someone testify a use case?

          Reply
    2. Anil

      how soon we come to whether we earned points or not on particular transactons on Indusind debit card?
      can we track points on netbanking?

      Reply
      1. Kapil Khurana

        Usually it takes 3-4 working days from the transaction date to credit the points. Once credited, you can immediately request redemption which takes another 2-3 days to reflect as money credit. So total lead time is typically a week.

        Reply
  7. urluck

    This Priority debit card from Axis bank also allows you a free domestic airport Longue access every quarter.

    Reply
    1. Siddharth Post author

      Most HDFC debit cards has it, like Easyshop Platinum

      Reply
  8. Vinay

    I am thinking of shifting my salary account to Axis as ICICI is not providing any great benefits. Can priority banking or debit card be provided to salary account holders?

    Also, can you send me the link for IndusInd debit card which gives INR 1500 cashback per month. I have IndusInd account, just need to request for the debit card.

    Reply
    1. Balaji

      Yes , you can get axis priority debit card for salary account. I have one.

      Reply
  9. Ankit Malhotra

    Is this Visa or MasterCard. Visa has drastically reduced lounges compared to MasterCard.

    Reply
      1. Arvind

        Thank you. There are multiple priority holders in my family but I only learned of this from to your blog. Unfortunately the RMs seems to be only interested in selling MFs/Insurance and never seems to pass on any useful info.

        Please continue the good work.

        Reply
  10. Ankit Malhotra

    I logged into my NetBanking and despite using the card to top up my PayTM/Amazon for INR 20000, seemingly the offer has not been applied. I guess I will have to go through their useless customer care.

    Reply
      1. Rohit

        Oh okay, thanks Siddharth. Last quarter when I used this trick the qualifying spends were recorded in a day. This quarter it’s been more than 1 week so was wondering what happened to my free money 🙂

        Reply
  11. Mouli

    Siddarth,

    Thanks for the article

    If I add money in any mobile wallet through the debit card, will that also be considered for the cashback ?
    If I add money for Mutual fund purchase through the debit card, will that also be considered for the cashback ?

    Thanks,
    Mouli

    Reply
      1. Anil

        mutual funds?? Are you sure??

        And what about Indusind Debit card >> how soon we come to whether we earned points or not on particular transactons on Indusind debit card?
        can we track points on netbanking?

        Reply
        1. Siddharth Post author

          Highly depends on which payment gateway/mode you use to pay.
          yes, you can track the points.

          Reply
  12. Mouli

    Siddarth,

    Is it in one transaction we need to do more than 20000 or multiple transaction adding to 20000

    Reply
      1. Mouli

        Siddharth,

        I got the 2500 cashback.I am holding this card for 2 years but was not aware of this offer
        Thanks for your information.your portal is really helpful .Keep up the good work
        They mentioned this offer is valid till Sep 2017.From when this offer is active.
        If I open Family account and use family members debit card , are they also eligible for this cashback ?

        Thanks,
        Mouli

        Reply
        1. Siddharth Post author

          Yes, should be on all cards. No idea from when its active.

          Reply
  13. Anil

    I filled form for axis priority account & Executive told AQB non maintenance won’t attract any penal charges.
    1. Will this impact 2500 Cashback accrual also?
    2. Does mutual fund transactions qualify for axis cashback?

    Ps: HDFC has put conditions for 1% Cashback, now only on specified transactions & merchants

    Reply
  14. thomas

    aqb non maintainance will not attract any penal charge but they have written in small print that account may be shifted to simple savings and if shifted by them , card fees will be billed.

    Reply
  15. Captain Bishuddha Bharatiya

    It looks like the party is over. From 23rd July 2017 I cannot see this cashback offer in net banking. Has anyone noted it ? Anyways I have made more than Rs. 50,000 so far and all thanks to Siddharth. Thanks buddy.

    Reply
    1. Siddharth Post author

      50k? Wow! great Man. Its my pleasure.
      Yes, it seems to be down now.

      Reply
      1. Captain Bishuddha Bharatiya

        I made a mistake. It will not be July but June.
        I have four Priority accounts and they gave cashback lots of time in a quarter. Infact I got cashback 4 times in the month of June alone. I think its a mistake from their end.
        Has anyone got multiple cashback in the same month ?

        Reply
        1. Adi. H

          Seems like the box is gone. I called Axis Bank and they said offer is still active.

          But I cannot see the box anymore.

          Can anyone of you confirm with your Relationship Manager about it?

          P.S.: My relationship manager is on vacation.

          Reply
  16. Adi. H

    Hey. I am not seeing this offer anymore in my Priority Internet Banking. Can you see that still?

    Reply
    1. Sambhav Sharma

      I don’t see it either anymore.. It’s a shame if they took it off without any notice and before the month ends.

      Reply
    2. Sandy

      Even I am not seeing the same from last Friday onwards. Maybe offer stopped.

      Reply
      1. Adi. H

        Axis Bank is clearly can’t keep up their offers. Again, Rs. 500+Tax Card from ICICI Bank (talking about Coral Card) is more beneficial as compared to Axis Bank’s 2 Lac + Average Monthly Balance Account.

        Clearly, Axis Bank is loosing the battle in providing better deals to customer for the value they provide.

        2500 Was a good offer.

        Reply
  17. Captain Bishuddha Bharatiya

    This offer is gone from last 5 days . I last used it on 22nd June. Very sad to see its over now.

    Reply

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