Axis Bank
Neo
The Axis Neo is a "coupon-first" entry-level card offering a 40% discount on Zomato and 5% off on utility bills. While its ₹250 annual fee is low, the 2026 increase in Minimum Order Value (MOV) to ₹499 for food delivery makes it less rewarding for solo diners compared to its previous avatar.
Direct link to the issuer's website. Terms apply — verify current offer with the bank.
Data last updated 29 May 2026.
At a Glance
Annual Fee
₹250
Joining Fee
₹250
Fee Waiver
N/A
Lounge Access
See details
Forex Markup
3.5%
Effective Yield
0.1% – 9.54%
Our Take
The Axis Neo is a "coupon-first" entry-level card offering a 40% discount on Zomato and 5% off on utility bills. While its ₹250 annual fee is low, the 2026 increase in Minimum Order Value (MOV) to ₹499 for food delivery makes it less rewarding for solo diners compared to its previous avatar.Often pitched as a beginner’s "savings engine," the Neo card's value is now strictly tied to specific partner brands. An unbiased review must highlight the abysmal 0.1% base reward rate (1 EDGE point per ₹200), which effectively renders it useless for any spend outside its "Power of 10" partners. While you still get 10% off on Blinkit, Myntra, and BookMyShow, the new 2026 ₹499 Zomato floor means you’re forced to spend more to save. With no lounge access and no rewards on rent or utilities, this card serves only as a secondary "niche" tool for utility recharges and occasional group food orders.
Pros
- Consistent Zomato Savings: Offers a flat ₹120 off on food delivery twice a month (using code AXISNEO). For regular Zomato users, this single benefit can provide up to ₹2,880 in annual savings, which far outweighs the card's low annual fee.
- Paytm Utility Discounts: Earns 5% off on mobile recharges, DTH, and broadband payments made via Paytm (capped at ₹150/month). While many cards have stopped rewarding utilities altogether, Neo provides a direct discount on these 'must-pay' bills.
- High-Frequency Brand Perks: Features a 'Power of 10' suite including 10% off on Blinkit (up to ₹250), 10% off on BookMyShow (up to ₹100), and ₹150 off on Myntra. These are instant discounts, meaning you don't have to wait for cashback to be credited.
- Low Barrier to Entry: With a joining fee of just ₹250 (often offered as 'Lifetime Free' during bank promotions), it is one of the easiest cards to get approved for, making it an ideal choice for building a credit history without high maintenance costs.
- Dining Delights Program: Provides up to 15% off (max ₹500) at over 10,000 partner restaurants across India via EazyDiner. This is a rare 'premium' lifestyle perk to find on such a budget-friendly card.
Cons
- Abysmal Base Reward Rate: Earns just 1 EDGE Reward Point for every ₹200 spent. Given that 1 point is typically worth ₹0.20, the effective reward rate is a microscopic 0.1%. It is arguably the worst card in India for general non-partner spending.
- Steep Zomato Minimum Spend: As of the late 2025/early 2026 update, the ₹120 discount on Zomato now requires a minimum order value of ₹499. This makes the card less useful for single-person meals or quick snacks.
- Zero Travel or Lounge Benefits: The card offers no airport lounge access, no travel insurance, and no hotel partnerships. It is strictly a 'city-life' card and provides zero utility for travelers.
- Comprehensive Point Exclusions: Following the 2026 Axis policy, no reward points are earned on Rent, Utilities, Fuel, Insurance, Education, or Government payments. Even worse, these categories do not contribute to any internal spend-based milestones.
- Highly Restrictive Capping: Most discounts (Paytm, Blinkit, BookMyShow) can only be used once per month. If you are a heavy user of these platforms, the 'value' of the card evaporates after your first transaction of the month.
Earning & Redemption
How You Earn
| Category | Reward rate | Yield % | Cap |
|---|---|---|---|
| Zomato Food Delivery | 40% Instant Discount | 40.00% | ₹120 per order / Twice per month |
| Paytm Utilities & Recharges | 5% Instant Discount | 5.00% | ₹150 per month / Once per month |
| Blinkit (Grocery) | 10% Instant Discount | 10.00% | ₹250 per month / Once per month |
| BookMyShow (Movies) | 10% Instant Discount | 10.00% | ₹100 per month |
| All Other Retail Spends | 1 EDGE Point per ₹200 spent | 0.10% | No Upper Cap |
| Excluded Categories | No Points Earned | 0.0% | — |
Redemption Value
| Channel | Value per point | Verdict |
|---|---|---|
| Instant Discount (At Checkout) | Direct Savings1:1 Ratio | Best Value (No redemption fees, no waiting, no points needed) |
| EDGE Rewards Catalogue | ₹0.20 per point (estimated)5:1 Ratio | Avoid (Standard ₹99 + GST redemption fee makes this non-viable for small earners) |
What You Need to Know
No Fuel Waiver
Unlike almost every other Axis card, the Neo often lacks a fuel surcharge waiver.
Impact: Using this at a petrol pump will result in a net 1% loss on every transaction.
Zomato Coupon Friction
Discount only works via the 'AXISNEO' code, not via automatic bank offers.
Impact: Users must remember to apply the code manually or they lose the 40% benefit.
Essential Fine Print
Reward Exclusions
Excluded Categories: Fuel, Rent, Utilities, Insurance, Government payments, Educational services, and Wallet loads do not earn EDGE Reward points.
Welcome Offer
Activation Benefit
100% cashback up to ₹300 on first utility bill payment within first 30 days of card issuance
Travel Benefits
Cleartrip Benefits
Enjoy Flat 7% discount (up to ₹2,000) on domestic and international flight bookings and flat 18% discount (up to ₹4,000) on hotel bookings. Both benefits are applicable once per use per month.
Dining Benefits
Zomato Discount
₹120 off on food delivery with your NEO Credit. Applicable on minimum spends of ₹499 per order and valid two times per month.
Dining Delights
Enjoy exceptional dining experiences at top restaurants across India with the Axis Bank Dining Delights Program.
Additional Features
Blinkit Discount
10% off on orders above ₹750, max discount ₹250 per month.
BookMyShow Discount
10% off on movie tickets, up to a maximum benefit of ₹100 per month.
Utility Bill Payments
5% off on mobile recharges, broadband, and DTH bills via Paytm, up to ₹150 per month with a minimum transaction requirement of ₹299
Fees & Charges
| Fee Type | Amount / Details |
|---|---|
| Joining Fee | ₹250 |
| Annual / Renewal Fee | ₹250 |
| Fee Waiver Threshold | N/A |
| Forex Markup | 3.5% |
| Reward Redemption Fee | ₹99 per redemption |
| Fuel Surcharge Waiver | 1% surcharge |
Eligibility Criteria
Salaried
Age between 18-70 years
Income
Must have a steady, verifiable income.
Residency/Citizenship
The individual should either be a Resident of India or a Non-Resident Indian.
Ready to apply for Neo?
Annual fee: ₹250
Annual fee
₹250
0.1% – 9.54% yield