AXIS BURGUNDY FOR NEW MAGNUS

[Sachs]

I have over 10L lying in my SBI account
I have Magnus with over 1L reward points
Is it wise to open a Burgundy savings account and maintain the 10L MAB to get the New Magnus LTF with 5:4 conversion ratio?
I went throught the PDF and found this. It is not clear if just opening a salary account with 3L is sufficient or one should open a savings account and maintain 10L balance.

Should I open a Burgundy account?
Salary or Savings?
How much balance should I maintain?

 

[Quantum]

I have over 10L lying in my SBI account
I have Magnus with over 1L reward points
Is it wise to open a Burgundy savings account and maintain the 10L MAB to get the New Magnus LTF with 5:4 conversion ratio?

I believe 5:4 conversion ratio is only going to be available with M4B (Magnus for Burgundy) and not for usual Magnus.
So if you want that conversion ratio, then you may choose the above option.

I went throught the PDF and found this. It is not clear if just opening a salary account with 3L is sufficient or one should open a savings account and maintain 10L balance.

Those conditions are "either of".
For salary: >3L per month, + 45 days cooling off period.

Check this thread: https://www.technofino.in/community...t-cards-devaluation-w-e-f-1st-sep-2023.14935/ and continue there.
The only option that seems to be left for you is talking to your RM/BM about opening a Axis Burgundy a/c via non-online mode OR your RM/BM taking approvals from higher-ups for your account and M4B.

Should I open a Burgundy account?
Salary or Savings?
How much balance should I maintain?

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