Axis Bank’s My Zone Credit Card targets individuals seeking lifestyle benefits such as discounts and rewards on dining, shopping, and entertainment.
The eligibility criteria for obtaining this card are designed to identify applicants who are most likely to benefit from its specific offerings, and to ensure that the cardholders can manage their credit responsibly.
Applicants must meet certain age and income requirements to be eligible for the My Zone Credit Card. Generally, the applicant should be within the age bracket of 18 to 70 years, with a stable source of income that ensures the capability to handle credit.
Moreover, a good credit history and score play a significant role in the assessment of the applicant’s profile, reflecting their creditworthiness and likelihood of timely repayments.
Table of Contents
Eligibility Criteria
When applying for an Axis Bank MY Zone Credit Card, prospective cardholders need to meet specific eligibility criteria.
Nationality:
The applicant must be either:
- A resident of India
- A Non-resident Indian (NRI)
Age Parameters:
- The minimum age for applicants is 18 years.
- The maximum age limit is 70 years.
Income Requirement:
Applicants must have a stable and regular income. Proof of income and employment may be required as part of the application process.
Credit Score:
A good credit history with a respectable credit score is essential. This typically indicates responsible credit behavior in the past and increases the chances of application approval.
Documentation:
They must provide necessary documents which include, but are not limited to:
- Identity Proof (any one): Aadhar Card, Passport, PAN Card
- Address Proof (any one): Utility bills, Aadhar Card, Passport
- Income Proof: Latest salary slips for salaried individuals or recent Income Tax Returns for self-employed.
The bank thoroughly reviews each application on an individual basis, and meeting these criteria does not guarantee card approval. Additional criteria and conditions may be applied by Axis Bank at their discretion.
Documentation Required
When applying for the Axis Bank My Zone Credit Card, applicants need to provide a set of documents to verify their identity, address, and income. These documents are crucial in the application process and must be submitted as per the bank’s requirements.
Proof of Identity
Applicants must submit at least one of the following documents as proof of identity:
- Passport: A photocopy of the passport, ensuring details are legible.
- Driving Licence: A clear photocopy or scanned copy of the driving licence.
- PAN Card: A photocopy of the PAN card or Form 60.
- Aadhar Card: A photocopy or scanned copy of the Aadhar card, with all details visible.
Proof of Address
For proof of address, applicants are required to provide any one of the following documents:
- Passport: Should include the address page.
- Ration Card: Must be a government-issued valid ration card.
- Electricity Bill: A recent bill not older than three months.
- Landline Telephone Bill: A recent bill reflecting the applicant’s address.
Proof of Income
Documentation to showcase proof of income includes the following:
- Latest Salary Slip: Includes the most recent salary slip indicating applicant’s earnings.
- Form 16: Issued by the employer, it reflects the tax deducted from the applicant’s salary.
- IT Return Copy: A copy of the most recent income tax return filed by the applicant.
Age and Employment Requirements
To be eligible for the Axis Bank My Zone Credit Card, applicants must meet specific age criteria and employment conditions.
Minimum Age Limit
The Axis Bank My Zone Credit Card sets its minimum age limit for the primary cardholder at 18 years and caps the age at 70 years. Any individuals seeking an add-on card must be 15 years of age or older.
Employment Type
Applicants for the Axis Bank My Zone Credit Card must be either:
- Salaried employees, which indicates a steady income from an employer, or
- Self-employed individuals, indicating they run their own business or work on a freelance basis.
Employment stability and income are also taken into consideration during the application process.
Also Read: A Complete List Of Axis Bank My Zone Credit Card Lounge Access
Additional Qualifying Parameters
When assessing a candidate’s eligibility for the Axis Bank My Zone Credit Card, additional qualifications beyond basic criteria come into play. The bank scrutinizes credit history and any existing relationships to evaluate the applicant’s creditworthiness and reliability.
Credit Score
A potential cardholder’s credit score is a critical factor. Axis Bank typically expects the following:
- Good to Excellent Score: Above 750 is preferable.
- Credit Report: It should be free of defaults and late payments.
Existing Banking Relationship
Axis Bank also considers an individual’s existing banking relationship with them. This can potentially influence the approval process:
- Account History: Presence of savings or checking accounts with a satisfactory transaction history.
- Prior Products: Usage of other Axis Bank products, like loans or previous credit cards, and the handling of these accounts.
Also Read: Check All Axis Bank My Zone Credit Card Fees & Charges (Including Hidden Charges)
Conclusion
In conclusion, the Axis Bank My Zone Credit Card is aimed at individuals looking for lifestyle benefits and offers a range of discounts and rewards.
To qualify for this card, applicants must be between 18 to 70 years old, have a stable income, and possess a good credit history. The required documentation includes proof of identity, address, and income.
Both salaried and self-employed individuals can apply, but they must meet the bank’s criteria, which may include additional factors like a high credit score and a positive existing relationship with Axis Bank.
While meeting these requirements is necessary, it does not guarantee approval, as the bank reviews each application individually and may impose other conditions at its discretion.
