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Pension Savings Account
Axis Bank offers pensioners the convenience of hassle-free banking with the Pension Savings Account. The benefits of the Pension Savings Account are tailored to meet the needs of pensioners, including an ATM withdrawal limit of ₹40,000. Additionally, account holders are entitled to a personal accident insurance cover of ₹2 lakhs.
Features & Benefits
Access to your Central Civil Pension
RBI and Central Pension Accounting Office (CPAO and EPFO) authorised account for disbursement of pension for
Read MoreEarn 2.50%* interest on daily balances, quarterly
Click here to view the new interest rate of Savings Account.
Bank at your convenience
Free SMS alerts, access to 15000+ Axis Bank ATMs, 5100+ Axis Bank branches as well as internet and mobile banking services.
Enjoy nil quarterly balance requirements
No average quarterly balance requirements.
Enhanced Banking Benefits
- Free & Unlimited multicity chequebooks
- Nil charges on DD/PO issuance
Read More
Bank easy with a Visa Classic Debit Card at low issuance charge
Visa Classic Debit Card at an issuance fee of ₹200 and annual fee of ₹150 in
Read MoreKeep yourself, your family and assets safe
Free personal accident insurance* cover of ₹2 lakh upon swiping your card once
Read More
Access to your Central Civil Pension
Enhanced Banking Benefits
Bank easy with a Visa Classic Debit Card at low issuance charge
Keep yourself, your family and assets safe
Bank at your convenience
- Free SMS alerts, access to 15000+ Axis Bank ATMs, 5100+ Axis Bank branches as well as internet and mobile banking services.
Eligibility for Pension Savings Account
Documentation for Pension Savings Account
Authorised Centres & Account Operations - Pension
To begin receiving your pension in your Axis Bank Pension Savings Account, all you have to do is open the Pension Savings Account and inform the designated office of the Ministry.
- Authorised Branches for Civil Pension Payment
- Authorised Branches for Defence Pension Payment
Pension Savings Account operations
Pension Savings Account operations depend on whether you are an existing or a prospective pensioner. To begin receiving your pension in your Pension Savings Account all you have to do is open the Savings Account with Axis Bank and inform the designated office of the ministry to transfer your pension into your Axis Bank Account.
Prospective pensioners
To avail this facility, open a Pension Savings Bank Account with any authorised Axis Bank branch and provide the account details to the Pay and Accounts Office (PAO) of the concerned Central Government Civil Ministry/Departments or Pension Sanctioning Authorities (PSAs) in case of Defence Units, prior to retirement.
If you are an existing Axis Bank customer, provide details of the savings bank account with the bank to the Pay and Accounts Office of the concerned Central Government Civil Ministry/Department or Pension Sanctioning Authorities (PSAs) in case of Defence Units, prior to retirement.
Existing pensioners
To avail this facility, open a Pension Savings Bank Account with any authorised Axis Bank branch and thereafter follow the necessary procedures prescribed by CPAO (in case of Central Government Civil Ministries/Departments) or Ministry of Defence for change of Bank for Pension Account for receiving/drawing pension.
Already Applied? Track your application here.
Have your Application ID or PAN card ready for a hassle-free experience.
Track NowSMS APENSION to 54646
Important Links
Access a wide range of resources and tools to simplify your Pension Saving Account journey.
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Learning Hub
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