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It has been our constant endeavour that the transition is seamless with minimal changes. We are pleased to inform you that the benefits and terms and conditions of your insurance policies purchased through Citibank remain the same.
Keeping in mind the need to protect yourself and your family from all risks, Axis Bank offers comprehensive insurance plans to cater to all your needs - from health and life insurance to travel and home insurance. To discover more about our wide range of insurance products tailored to your needs, Click here.
We are committed to making this transition journey a seamless one for you!
Through this transition, we are ensuring there are minimal changes to the way you pay your premiums. We are working diligently to ensure that your data is integrated into Axis Bank systems. Post the migration, you should see the below changes:
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Standing Instructions for Life Insurance premium payments on your credit card will be automatically debited from your card for all premium payments of less than or equal to Rs. 1 Lakh.
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Standing Instructions for Non-life Insurance premium payments on your credit card will no longer be available after the migration. You will need to set up a new instruction with the insurance company or on their portal.![green-tick]()
Standing Instructions set up on your credit card for payment of Life Insurance premiums of more than Rs. 1 Lakh, you
will have to do an OTP authorization on Axis Bank Internet Banking or Mobile Banking App, open, as per regulatory requirements.![green-tick]()
One glance statement: For Life Insurance policies, status will be available in OGS only for PRIORITY, Burgundy &
Burgundy Private segment customers. In case of Non-Life Insurance policy status, you will need to reach out to Insurance company directly.![green-tick]()
All communication regarding policy/premium will be shared by the insurer.
Standing Instructions for Life Insurance premium payments on your credit card will be automatically debited from your card for all premium payments of less than or equal to Rs. 1 Lakh.
For any further queries and more information on Insurance
Frequently Asked Questions
I would be a Burgundy / Burgundy Private Client post transition; will I continue to receive updates about my Insurance Policy / Policies from the Bank?
Yes, every month, you will receive One Glance Statement (OGS) on your registered email ID from Axis Bank, which will include details of your Life Insurance Policy / Policies bought through the Bank. Additionally, you may also log in to your net banking to download a consolidated statement for your Life Insurance Policy / Policies’ details.
For Non-Life Insurance Policy details, you may reach out to the insurance company directly or seek help from your Relationship Manager / Service Relationship Manager. Furthermore, you can Click here to contact your insurance company
I am a Priority customer post transition. Will I continue to receive updates about my Insurance Policy / Policies from the Bank?
For Life Insurance & Non-Life Insurance Policy details, you may reach out to the insurance company directly or seek help from your Relationship Manager / Service Relationship Manager. Click here to know more about our various insurance partners.
Who should I contact for insurance-related requests such as servicing, surrender, cancellation, and complaints claim etc.?
You can reach out to your Relationship Manager or visit your nearest Axis Bank branch for any support you might need. Click here to know more about our various insurance partners.
Will the change in IFSC affect the payout of an Insurance Policy?
Yes, the IFSC will certainly need to be updated with your insurance company for seamless premium payment. For your convenience, we will centrally update the Axis Bank IFSC with our insurance partners - Aditya Birla Sunlife, Max life, and Tata AIA. However, if you have purchased an Insurance Policy from any other insurer e.g. HDFC Life, Bajaj Alliance, LIC, ICICI Prudential Life etc. then we would request you to reach out to your insurance company to update the new IFSC.
Whom should I reach out to if there is a discrepancy in the premium payment or my premium is not auto-debited as usual?
If you have a standing instruction mandate for your premium payment and it has not been debited as per schedule, please do contact the insurer directly in this regard. In case you are unaware of a mandate that led to a premium payment debit from your account / card, contact your Relationship Manager / Service Relationship Manager, or reach out to the home branch, and raise a redressal request.
Can I set up a fresh standing instruction for my Insurance Policy premium payment on my credit card?
Yes, you can set up a fresh standing instruction on your credit card by directly contacting the insurer. If you need further help, please do not hesitate to reach out to contact your Relationship Manager or our Phone Banking Team.
What is the process of cancellation of standing instruction for Insurance Policy / Policies on my credit card?
After migration, you can log in to Axis Mobile Banking, open by Axis Bank / Internet Banking in few easy steps: Internet Banking > MPIN > Bill Pay & Recharge > Manage Billers > 3 dots > Delete.
What is the process of cancellation of standing instruction for my Insurance Policy / Policies on my Bank account?
In case you wish you cancel and existing Insurance Policy on your Bank account, you can give your cancellation request at your nearest Axis Bank branch or reach out to your Relationship Manager / Service Relationship Manager.
Can I give fresh standing instruction on my bank account through Axis Bank branches?
We would request you to give fresh standing instruction for renewing the premium of your policy, directly to your insurance company. If you need further help, please do not hesitate to reach out to your Relationship Manager or our Phone Banking Team.
Do I need to give any extra details to retain the benefits and / or validity of my existing Insurance Policy?
There is no requirement to submit any extra details if your existing policy / policies’ status is active. If you need any further help in this regard, please reach out to your insurance company directly. Click here to know about our various insurance partners.
Why am I not receiving any communication from Axis Bank about my policy?
We regret the inconvenience caused and would request you to please check whether you have registered your correct email ID with the Bank. In case this needs to be updated, please reach out to your nearest branch.
Additionally, if you are a Burgundy or Burgundy Private client, you may log in via net banking to download the consolidated statement, where your Life Insurance Policy / Policies’ details will be available.
Will my insurance premium continue to be debited through the standing instruction set up on my account?
Yes, there is no change in the process of debiting your insurance premium on your account via standing instruction, and your renewal premium payment will continue to be debited through the account on the due date.
What will happen to the standing instruction set up on my credit card for (Life) Insurance Policy premium, post migration?
As per the RBI e-mandate, please do note there is an important change in the process of debiting renewal premium through your card.
Individual Life Insurance Policy:
a) We will continue to debit the premium through your credit card if the premium amount is less than or equal to ₹1 lakh per month.
b) For renewal of a premium above ₹1 lakh per month, you will have to log in to Internet Banking and you need to authorise the transaction through an OTP under the biller section of the online banking page.
What will happen to my Non-Life Insurance standing instruction set up on my credit card, post migration?
For Non-Life Individual Insurance Policy premium payments, we will not be able to debit your credit card for renewal premium payment, due to process limitations. The insurance company will reach out to you to set up renewal instructions on your policy.
What will happen to the (Group) Insurance Policy premium standing instruction set up on my credit card, post migration?
For Non-Life Group Insurance Policy, there is no change in the existing process of debiting premium on your credit card, subject to OTP authentication.
Furthermore, you can reach out to your nearest Axis Bank branch for help or reach out to the insurance company directly. Click here to know about our various insurance partners.
Can I set up new renewal instructions on Axis Bank Internet Banking or Mobile Banking App, Open, post migration?
Yes, you can easily set up renewal instructions by accessing the Axis Bank Biller Section on Axis Bank Internet Banking.
Why can my credit card not be debited for premium payment through the physical instruction provided by me?
Post migration, the physical standing instruction on your credit card will be converted into digital mode by the Bank (in adherence to the RBI e-mandate guidelines).
• Life Insurance Policies: Premium payment will be done automatically for premiums amounting to ₹1 lakh and with an OTP authentication for premiums above ₹1 lakh.
• Non-Life Individual Insurance Policies: You need to pay the premium directly to the insurer or set up renewal instructions with the insurer for recurring payments.
• Non-Life Group Insurance Policies: There is no change in the existing process.
For any support you might need, please do not hesitate to reach out to your Relationship Manager or your nearest Axis Bank branch. You may also contact the insurance company directly. Click here to know about our various insurance partners.
Do I need to change my Citi account details for standing instruction on an externally bought policy?
Please contact your insurance company for any updates if you have purchased a policy outside of the Bank.
How will my individual demat account be migrated?
Your individual Demat account will be migrated from Axis Bank Ltd (DP ID IN300685) to Axis Securities Ltd. (DP ID IN304295). This is being done to ensure that you can avail the full suite of services offered by Axis Group including trading accounts / facilities at attractive pricing.
How will this migration affect my existing Demat holdings and transactions ?
Your existing holdings will be seamlessly migrated to Axis Securities DP ID IN304295. You will be able to continue to transact and manage your holdings hassle-free, through Axis Bank branches providing demat services.
Will my DP ID / Client ID change after the migration?
Yes, DP ID will change to Axis Securities DP ID IN304295. However, the Client ID may change in certain cases, and we will keep you informed of the same.
What happens to my existing DI slip booklet after migration?
Your existing DI slip booklet(s) will no longer be valid post the migration. Axis Securities will send you a new welcome kit with updated booklets and instructions post the migration.
What will happen if I have pending requests like DRN, Demat or Conversion with Axis Bank Ltd. DP ID IN300685 at the time of migration?
We will wait for the pending requests to get accepted / rejected by the RTA, post which the specific holdings will be transferred to your new demat account created with Axis Securities. Upon the completion of migration, your demat account with Axis Bank will be closed. For any service request post migration, you will need to contact Axis Securities.
Will there be any changes in the way I access my demat account online?
Post migration, you will be able to view your demat account balances through Axis Bank Internet Banking / Mobile Banking App, open.
How will I receive statements and communication post migration?
Axis Securities Limited will send you weekly statements and all communication related to your demat account on the contact details registered with NSDL for your account.
Will there be any changes in the fees or charges associated with my demat account, post the migration?
Schedule of Charges (SOC) associated with your demat account will remain unchanged on account of migration.
How can I avail demat related services, post the migration?
Post the migration of your demat account, you can visit your home branch of Axis Bank or any Axis Bank branch providing Demat services, where Axis Securities staff will assist you with your queries and transactions .
What will happen to demat accounts under regulatory blocks or having holdings under restrictions
Demat accounts under regulatory block or holdings that under restrictions like pending dematerialization, blocked ISIN, pledges etc., will not be migrated to Axis Securities DP ID IN304295 till such time these blocks / restrictions are regularized.
How will this migration affect my existing demat holdings and transactions?
Your existing holdings will be seamlessly migrated from DP ID IN300685 to another DP ID of Axis Bank (DP ID IN300484). This is being done with the objective of offering you a full suite of services from Axis Bank. You will be able to continue to transact and manage your holdings hassle-free, through Axis Bank branches providing demat services.
Will my DP ID / Client ID change after the migration?
Yes, your DP ID will change from DP ID IN300685 to another DP ID of Axis Bank (DP ID IN300484). However, Client ID may change in certain cases only, and we will keep you informed regarding the same.
What will happen if I have pending requests like DRN, Remit or Conversion with Axis Bank Ltd DP ID IN300685 at the time of migration?
We will wait for the pending requests to get accepted / rejected by the RTA, post which the specific holdings will be transferred to your new demat account created under DP ID IN300484. Post complete migration, your demat account under DP ID IN300685 will be closed. For service requests post the migration, you will need to contact Axis Bank branches providing demat services.
How will I receive statements and communication post the migration?
We will send you weekly statements and all communications related to your demat account on your contact details registered with NSDL for your account.
Will there be any changes in the fees or charges associated with my demat account post the migration?
Schedule of Charges (SOC) associated with your demat account will remain the same on migration.
How can I avail demat related services post the migration?
Post the migration of your demat account, you can visit your home branch of Axis Bank or any Axis Bank branch providing demat services, where you we will be happy to assist you with your queries and transactions .
What will happen to demat accounts under regulatory blocks or having holdings under restrictions?
Demat accounts under regulatory block or holdings under restrictions like pending dematerialization, blocked ISIN, pledges etc., will not be migrated to DP ID IN300484 till such time these blocks / restrictions are regularized.
Can I access my demat account online?
Post migration, you will be able to view your demat account balances through Axis Bank Internet Banking / Mobile Banking App, open
What happens to my existing DI slips booklet(s) after the migration?
Your existing DI slip booklet(s) will no longer be valid post the migration. We will send you a new welcome kit with updated booklets and instructions post the migration.
Contact Now
- Call us at 1860-419-5555 or 1860-500-5555 (local charges applicable) / 18001035577 (Toll Free)
- Use +91-22-4955-2484 for calling us from outside of India
- Phone Banking teams are available from 9 AM to 9 PM for all your banking needs.
- Chat online at www.axisbank.com/support
- Please write to head customercare@citi.com for any transition related queries or feedback.
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Citi India consumer banking customers are now served by Axis Bank.
Citi India has transferred ownership of its consumer banking business to Axis Bank (registration number L65110GJ1993PLC020769) with effect from 1st Mar 2023.
Consumer banking customers can continue to use all existing Citi products and/or services, branches, ATMs, internet banking and Citi Mobile®App as usual. Axis Bank is the provider of Citi branded consumer banking products in India temporarily and Citi India is providing certain services in respect of those products.
The trademarks “Citi”, “Citibank”, “Citigroup”, the Arc design and all similar trademarks and derivations thereof are used temporarily under license by Axis Bank from Citigroup Inc. and related group entities.