Index Fund Corner
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| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
Here’s a look at the key updates and how they may affect cardholders.
Existing benefits to continue
The card will continue to offer up to four reward points for every ₹150 spent. Customers will still be eligible for two complimentary visits to domestic airport lounges every quarter.
Fuel and railway surcharge waivers will also remain available under the existing terms.
New fuel waiver cap introduced
From June 2025, cardholders will get a 1% surcharge waiver on fuel purchases ranging between ₹500 and ₹5,000. The total fuel surcharge waiver will be capped at ₹3,500 per calendar year.
Changes to reward point earning categories
Spends on education and insurance will earn reward points only up to ₹70,000 per statement cycle. Utility bill payments will earn points up to ₹50,000, while government-related transactions will be eligible up to ₹40,000 per cycle.
Reward point earning will be discontinued for specific categories. These include wallet loads, rent payments, fuel transactions, and online skill-based gaming platforms. Moreover, spends in these categories will no longer count toward milestone benefits.
Lower value for reward point redemption
The cash redemption value per reward point will be revised from ₹0.25 to ₹0.20. A minimum of 2,000 reward points will be required to redeem for cash value.
Lounge access linked to spending
From now on, complimentary airport lounge access will be offered only if a cardholder spends ₹75,000 or more in a calendar quarter. Access will be provided in the next calendar quarter based on the previous quarter’s spending.
Revised interest rate and new transaction fees
The finance charge on the card will be increased from 3.5% to 3.75% per month. Additionally, a 1% transaction fee will apply in several cases. This includes wallet loads, online gaming, government spends exceeding ₹10,000, utility spends over ₹50,000, and fuel spends over ₹35,000 in a statement cycle.
For education-related payments made through third-party apps such as PhonePe, Cred, and Mobikwik, a 1% transaction fee will also apply. However, payments made directly to educational institutions, either through their websites or point-of-sale terminals, will not attract this charge.
Auto-debit failure fee introduced
If auto-debit fails, the bank will charge a fee of 2% on the total outstanding amount. This fee will be a minimum of ₹450 and can go up to a maximum of ₹5,000.
