Axis Burgundy for Magnus

[SteelSh0t]

Is anyone planning to open Burgundy account for 5:4 transfer ratio?
What is the process, do we need to visit branch or it can be done online?

 

[bigbrain]

You are applying through axis mobile app from their you can only find regular plans. You need to invest through axismf.com or axis mutual fund app. Direct plans are available their but only for axis amc funds not of other fund houses like i said earlier. Means if you invest in axis small cap or bluechip, then you will be offered direct funds

But that’s not included in TRV right?

 

[shashank08]

But that’s not included in TRV right?

Yes.. that will not be included in TRV..

 

[Thomas244]

Hi,

I already have the following
- Magnus CC
- Axis Vistara Infinite CC
- Axis MF investments about 10 lakh+

I do not have an Axis bank account. Is it a good idea to open a Burgundy account ( I can transfer ₹10 lakhs to this account from my ICICI) I can go to the nearest branch and explain this and get the burgundy account opened.

How is it beneficial to have a Burgundy account considering I already have those Axis credit cards?

i would be thankful for advice or tips.

Srini

Today my bm has told not to transfer 10 lakhs as that will get burgundy but not Magnus+ only 30lakh trv will get

 

[Deleted member 16961]

But that will not be counted for your NRV/TRV with Axis bank..

Yes it will be. Well at least according to axis burgundy customer care. They told me that it will be considered as a TRV fund. But you should check this by axis customer care too. Or you should confirm this by BM.

 

[shashank08]

Yes it will be. Well at least according to axis burgundy customer care. They told me that it will be considered as a TRV fund. But you should check this by axis customer care too. Or you should confirm this by BM.

It will be only if you have invested via axis bank which shows only regular plans..

I have almost 20 lacs invested across multiple axis mutual fund schemes in direct plans and had a discussion with RM and BM and he clearly told those will not be counted as TRV..

 

[Deleted member 16961]

It will be only if you have invested via axis bank which shows only regular plans..

I have almost 20 lacs invested across multiple axis mutual fund schemes in direct plans and had a discussion with RM and BM and he clearly told those will not be counted as TRV..

okay, thanks for clearing. see, that’s why i was asking to reconfirm this by Branch manager because customer care executives not 100% reliable.

 

[Sudheep]

have PPF account with SBI. planning to transfer to AXIS for meeting 30L criteria. will it work?

 

[Thomas244]

have PPF account with SBI. planning to transfer to AXIS for meeting 30L criteria. will it work?

I was thinking same but then thought sbi is better than axis for such an important account so have dropped the idea

 

[Trust Me]

have PPF account with SBI. planning to transfer to AXIS for meeting 30L criteria. will it work?

I was thinking same but then thought sbi is better than axis for such an important account so have dropped the idea

Couple of points:

1. The investments must be made through Axis. I don't think a transferred PPF account would count.

I also agree with the decision that having the PPF account with SBI is a much better option. It is also very easy to maintain it at SBI.

2. Moreover, there is nothing great about a Burgundy account to justify going to such lengths to open one.