Axis Magnus Axis Burgundy Salary account approval eligibility

[CC_Exuberant]

I have HDFC salary account for last 13 years and I have received INFINIA METAL LTF , yes LTF . Now I want to switch my salary account to some other bank . And close this old account for some reason , don’t ask me why I want to close such old account which would lead to lower CIBIL ..

I have ITR of 45 lakhs but my salary credit is only close to 1.5 . Hence not directly eligible for AXIS burgundy though my institution comes in their list where only 2 lakh credit is eligibility.

Approached branch , they told me if I share my last 3 months salary they will get it checked by their back end team and get approval for burgundy account .
So my question here is “Is it possible ? Or is it scam or bluff ? Anyone here who has the same case ” Thanks !

 

[sonuyos]

What s BP?

Burgundy Private .

 

[CC_Exuberant]

Actually i think of it as like this.

I can get 10lk rupees benefit out of my Magnus a year for sure.

So 10lk is guaranteed return from the amount invested, thats 20% on the value. Plus in long run i get 20-30% yoy i am content from their PMS.

Thats my way to look at it.

Their charges are 2.5% per year, charged every quarter. which is industry standard.

Plus they dont charge brokerage and all that (except STT) saves probably 0.5% a yr.

Can you elaborate on how do you squeeze 10L rewards from Magnus ?

 

[sahilgulati5]

Can you elaborate on how do you squeeze 10L rewards from Magnus ?

+1 kindly elaborate. so that we can also use

 

[sonuyos]

Can you elaborate on how do you squeeze 10L rewards from Magnus ?

+1 kindly elaborate. so that we can also use

1.6lk to Accor = 2.88lk.

Remaining 6.4lk miles, even if you go ITC route thats still = 6.4lk thats (6.4 + 2.88) 9.28lk.

And thats bare minimum.

You can opt for Business class flights and make it easily 2rs per mile. At times even more.

 

[sahilgulati5]

1.6lk to Accor = 2.88lk.

Remaining 6.4lk miles, even if you go ITC route thats still = 6.4lk thats (6.4 + 2.88) 9.28lk.

And thats bare minimum.

You can opt for Business class flights and make it easily 2rs per mile. At times even more.

Plz Guide us in detail how to spend and earn so much points. U already gave that in some of ur post.. Suppose if my monthly spend is overall 1 Lakhs( Rent, Food,Maid,Shopping, Outing, Petrol) and every Bimonth it will cross 1.5. then how should we use M4B properly

 

[sonuyos]

Plz Guide us in detail how to spend and earn so much points. U already gave that in some of ur post.. Suppose if my monthly spend is overall 1 Lakhs( Rent, Food,Maid,Shopping, Outing, Petrol) and every Bimonth it will cross 1.5. then how should we use M4B properly

Just do concentrated spends?

You can pay quarterly rent if your rent for the quarter is below 50k.

That's the only way to go about it.

Spend major chunk in 1 month and cruise by the next 2.

Family for sure gets pissed but wonder if they can stay pissed while staying at Crest suite in Swissotel Singapore or Gold Suite in Fairmont.

 

[Wealth is my birth right!]

Actually i think of it as like this.

I can get 10lk rupees benefit out of my Magnus a year for sure.

So 10lk is guaranteed return from the amount invested, thats 20% on the value. Plus in long run i get 20-30% yoy i am content from their PMS.

Thats my way to look at it.

Their charges are 2.5% per year, charged every quarter. which is industry standard.

Plus they dont charge brokerage and all that (except STT) saves probably 0.5% a yr.

ok its a worthy deal only
existing axis direct account is ok or if we go into PMS will they open new thing for NIL brokerage?

 

[msankadi]

I have a story to tell:
With my Burgundy Salary account, I got the free Magnus Burgundy last year.
There is no change in my salary post that but they downgraded my card to normal Magnus! I am still exchanging emails with their MD office but it's like hitting my head against the wall - unable to understand why they did it!

So, let me know if u r successful to get the free Magnus Burgundy - I have more than 2L points to redeem

You should create a separate thread about this... This is the first I'm hearing about this... Unfortunately I am not surprised. Axis is shit chor shady and useless as axis.

 

[Wealth is my birth right!]

You should create a separate thread about this... This is the first I'm hearing about this... Unfortunately I am not surprised. Axis is shit chor shady and useless as axis.

no surprise
its their burgundy promise lol if we do not maintain our burg status they will convert our card to 12500 wala i mean 5:2

 

[msankadi]

no surprise
its their burgundy promise lol if we do not maintain our burg status they will convert our card to 12500 wala i mean 5:2

Arre but in this case user mentioned he didn't change anything and same salary was being credited

 

[Wealth is my birth right!]

Arre but in this case user mentioned he didn't change anything and same salary was being credited

what happened here will be branch got approval to compromise on lesser threshold of salary criteria which centrally at backend they dont know degraded account
my branch once raised SR for an add on request but when asked from cust care they said i've to contact branch only
see how they cooperatively function

 

[magnusfan]

what happened here will be branch got approval to compromise on lesser threshold of salary criteria which centrally at backend they dont know degraded account
my branch once raised SR for an add on request but when asked from cust care they said i've to contact branch only
see how they cooperatively function

I have a salary credit of about 4.6 L per month - my salary account and is still is pure Burgundy..
Like I said, I am still in email exchanges with the MD office - seem to be not going anywhere, but let's c..
Will create a separate thread once I land somewhere

 

[sonuyos]

ok its a worthy deal only
existing axis direct account is ok or if we go into PMS will they open new thing for NIL brokerage?

They will open PMS within your account only, and make you burgundy instantly and give you card within a week or so.

 

[Wealth is my birth right!]

They will open PMS within your account only, and make you burgundy instantly and give you card within a week or so.

my case already burgundy account with 10l maintenance
u mean post PMS they will convert ordinary burgundy card to 5:4 one?

 

[sonuyos]

my case already burgundy account with 10l maintenance
u mean post PMS they will convert ordinary burgundy card to 5:4 one?

No, they will give you Magnus Burgundy.

 

[Wealth is my birth right!]

No, they will give you Magnus Burgundy.

but chargeable one 35400/-

 

[magnusfan]

I still can't understand why Magnus Burgundy with their subpar 4.8% rewards?

Infinia gives fantastic on 5x/10x

SBI Air India Signature gives 10% Air India points with each point value between 0.6 to 1

 

[m4b]

I have a salary credit of about 4.6 L per month - my salary account and is still is pure Burgundy..
Like I said, I am still in email exchanges with the MD office - seem to be not going anywhere, but let's c..
Will create a separate thread once I land somewhere

What!! Did you receive the new Magnus Burgundy card after the upgrade earlier?

 

[sonuyos]

but chargeable one 35400/-

Yea which is still ok considering the value you getting out of it.

 

[Wealth is my birth right!]

Yea which is still ok considering the value you getting out of it.

yes yes no doubt
atleast twice in an year we spend 3l in a month we can easily reap benefits