Axis Burgundy account degradation

[Chaitanya-a]

Can anyone tell me if I open Burgundy account with 5L initial deposit, and unable to maintain MAB, then even if my account gets degraded, will non-maintenance charges applicable to that account or not? And what will happen to DC & Select CC?

 

[Auto_A]

Will the amount in FD be counted for MAB? or only the amount that is lying idle in the savings account?

 

[Chaitanya-a]

Will the amount in FD be counted for MAB? or only the amount that is lying idle in the savings account?

Only savings account balance is counted for MAB calculation. For FD, you have to maintain TRV condition which is 30L.

 

[Auto_A]

Only savings account balance is counted for MAB calculation. For FD, you have to maintain TRV condition which is 30L.

Oops!! Looks like my account would be downgraded very soon. I booked FD for the amount that was lying unutilized in the savings account. I did not like to see money stagnating like that 😀

 

[Chaitanya-a]

Oops!! Looks like my account would be downgraded very soon. I booked FD for the amount that was lying unutilized in the savings account. I did not like to see money stagnating like that 😀

We can get much more returns if we put that money on work.
This account is only ideal for HNIs who have ample amount of liquid money.

 

[Auto_A]

We can get much more returns if we put that money on work.
This account is only ideal for HNIs who have ample amount of liquid money.

True, even the benefits are nothing great - as I have come to realize now. So let the account remain with Burgundy status for as long as the RM wants to 😛

 

[seekndestroy99]

Is there prior intimation for Account Downgrade? If yes, by whom? BM, RM or Automated Mail?