Devaluation Axis Magnus & Magnus Burgundy Credit Card Huge Devaluation Effective From 20th April 2024

[sahilgulati5]

True..
It's basically 10L at 3% and 20L in something that gives 15/20% or higher instead of all 30L at 7-8% FD.

15% + return is only possible if u invest in business or in stock. Again the risk and time need to get the value from that investment should be worth the effort. Other than that non of the mode will give such returns according to me.

 

[Dragon_slayer]

Why do you think holding 10 lacs in savings at 3% interest is better than 30 lakhs in fixed deposit at 7.25% ?

We can get 7.25% on IDFC savings account rather than locking in FD.

 

[sahilgulati5]

We can get 7.25% on IDFC savings account rather than locking in FD.

But u won’t get M4B.

 

[Dragon_slayer]

But u won’t get M4B.

Why ? I said I will continue to keep 10L in Axis.

For any funds above 10L, I would prefer IDFC as its offering higher interests.

 

[Credit_Cards]

Nothing much changes with this move MAB vs QAB, probably after another round of devaluation I personally might consider closing Magnus Burgundy.