11:50 PM IST, Mumbai – Axis Bank has introduced a new corporate salary solution for startups, aiming to give young companies and their employees a more flexible and benefit-rich banking option. The update comes through reports carried by Rediff.com based on PTI’s coverage.
What the Axis Bank is offering for StartUps
Unlike a regular salary account that only handles monthly salary credit, Axis Bank’s new solution is designed specifically for funded startups and growth-stage companies.
The package includes:
- Zero-balance salary account
- Insurance cover is bundled with the account
- Credit card benefits, including easier eligibility
- Personalised loan options for employees
- Lifestyle perks such as health checkups, fitness offers and travel benefits
- A “Switch to Save” feature that claims ₹46,000 to ₹2,40,000 in annual savings, depending on the variant employees choose
This gives employees more than the usual banking services — the account doubles as a lifestyle and financial-wellness package.
Why this matters
- Better for startups
Startups often look for simple, fast and all-in-one services.
This new solution could make payroll management easier and help founders offer more attractive employee benefits without extra cost.
- Better for employees
Unlike typical salary accounts, this one brings extra savings, perks and wellness options.
For many young employees — especially in tech and digital roles — the add-ons can feel more relevant than traditional banking benefits.
- Strategic move by Axis Bank
CNBC TV18 recently interviewed Sanjiv Bhatia, (president of Axis Bank. His words continue to make a lasting impact in the startup ecosystem.
Its New Economy Group already works with many high-growth companies, and entering deeper into payroll banking helps the bank build long-term customer relationships.
Key numbers at a glance
| Category | Details |
|---|---|
| Annual savings claim | ₹46,000 to ₹2,40,000 (variant dependent) |
| Target segment | Funded startups & growth-stage companies |
| Benefits included | Insurance, lifestyle perks, loans, credit card privileges |
| Account type | Zero-balance salary account |
What startups and employees should check
Before switching or signing up, both sides should look at:
- Eligibility – which startups qualify and what documents are needed
- Variants – savings and perks differ based on the chosen plan
- Conditions – some benefits may require minimum usage or may be limited-time offers
- Integration – how smoothly the bank sets up payroll for HR teams
- Fine print – charges, partner offers, and renewal rules
These checks ensure the benefits match expectations.
Axis Bank’s new salary solution stands out because it focuses on the needs of startups and their workforce, not just large corporates. With extra perks, yearly savings potential and wellness benefits, the offer gives employees more value than a standard salary account.
For founders, it provides a ready-made benefit package at no extra effort — something useful during hiring and retention.
