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Axis Bank

Axis Bank Neo Credit Card

4.0

Joining fee: ₹250
Annual fee: ₹250
Welcome bonus: ₹300
Forex markup: 3.5%
Interest p.a.: 55.55%
Min income: —

How this card earns

Reward rates by category, with caps and an estimated yearly value.

Spend category	Reward rate	Monthly cap	Est. value/yr
All other spends	0.1%	—	₹120

Estimated yearly value assumes ₹10,000/month spend in each category, capped where the card caps rewards.

Fees & charges

Joining fee₹250

Annual fee₹250

Annual fee waiverRenewal fee waived on meeting a minimum annual spend (exact threshold not published; utilities, telecom, education, rent, wallet, government, insurance, fuel, cash and repayments excluded). Often issued as Lifetime Free.

Foreign currency markup3.5%

Finance charge (p.a.)55.55%

Fuel surcharge waiver1%, up to ₹400/mo

Key benefits

Base rate just 1 EDGE point per ₹200 (~0.1% value-back at ₹0.20/point); value is in flat partner discounts, not points
Zomato: flat ₹120 off (min order ₹499), twice per month (not valid via UPI-linked Neo RuPay)
Myntra: ₹150 off on minimum ₹999 purchase
Blinkit: 10% off up to ₹250 on min ₹750 spend, monthly
BookMyShow: 10% off movie bookings (capped ~₹100/month)
Paytm: 5% off on mobile/broadband/DTH recharges (capped ~₹150/month)
UPI-enabled RuPay variant for everyday spends
1% fuel surcharge waiver

What we like

+Lifetime-free / very low fee entry-level card
+Strong recurring monthly discounts on Zomato, Myntra, Blinkit, BookMyShow, Paytm
+UPI-enabled RuPay variant for everyday spends
+Standard 1% fuel surcharge waiver

What to watch

−Very poor base reward rate (1 pt per ₹200 ≈ 0.1% value-back)
−No lounge access and no insurance benefits
−No milestone benefits
−3.5% forex markup — not suited for international spends
−Many categories (utilities, rent, wallet, fuel, insurance, education) excluded from both rewards and fee waiver
−Zomato offer cannot be availed if paid via the UPI-linked RuPay variant