Axis Magnus Burgundy Magnus 5:4 ratio

[drsel]

1) Please post here when your Magnus card with Burgundy status shows a 5:4 conversion ratio.

2) Also post if you have received a brand new Burgundy Magnus card or have the same old Magnus card.

3) Whether the brand new burgundy Magnus card is lifetime free or old Magnus card is made lifetime free because of your Burgundy 10 lac AQB savings account.

So far I don't think anyone in India is getting it, but its supposed to be starting from 15 to 21 September 2023.

Also kindly let us know how simple and easy it is to convert your existing ordinary savings account in Axis Bank to a Burgundy savings account. Thanks

 

[Salvo08]

How much time it takes to get new card in hand after approval?

Placed the upgrade request on 28 Sep at 0930h and received the card on 30 Sep at 1600h.

 

[hrishig]

Placed the upgrade request on 28 Sep at 0930h and received the card on 30 Sep at 1600h.

I got my card today but add-on cards are missing. CC said that they will be delivered in the next ten days.

 

[CardScout]

So I called the number when the guy told me that currently since quarterly AQB is not met, we can't upgrade your Magnus (I had recently made sure my balance is 10L), but then recommended me to open a service request for the same. Apparently we created a service request:


Apparently, the request got closed as soon as it was created
Did anyone had a similar experience?

 

[drsel]

So I called the number when the guy told me that currently since quarterly AQB is not met, we can't upgrade your Magnus (I had recently made sure my balance is 10L), but then recommended me to open a service request for the same. Apparently we created a service request:
View attachment 31338

Apparently, the request got closed as soon as it was created
Did anyone had a similar experience?

You need a salary account of over 3 lakhs or total relationship value of 30 lacs to be maintained for at least 45 days to qualify for the lifetime free Magnus for burgundy credit card
that is the definition of true burgundy

 

[drsel]

If your saving account has a small balance and then suddenly you put 10 lacs, it will take a long time for the AQB to go over 10 lakh

 

[ismail]

why are so many eager for Burgundy account?
10L at 3% loses you 6k per month
30L at 7% loses you 7.5k per month
As minimum growth for that huge money should be 10% atleast

 

[jack333]

Tried with burgundy salary for my wife
3 different executives picked up and all 3 had same stance , as per their internal circular they can issue LTF Burgundy Magnus only to those who have a 30 lakhs TRV in last one glance statement , they told she can still apply but it will be charged 12500 Rs.
Anyways will wait for a few more day and would try again

You didn't update you're LTF visa magnus to burgundy magnus?

 

[anirban.choudhuryanirban.choudhury is verified member.]

You didn't update you're LTF visa magnus to burgundy magnus?

Nope
I am Good with unconditional LTF

 

[jack333]

Nope
I am Good with unconditional LTF

Currently using infinia?

 

[drsel]

Nope
I am Good with unconditional LTF

So far axis has not yet transferred all the old edge points to the Burgundy basket with 5:4 ratio

 

[anirban.choudhuryanirban.choudhury is verified member.]

Currently using infinia?

Atlas , platinum travel , platinum charge

 

[anirban.choudhuryanirban.choudhury is verified member.]

So far axis has not yet transferred all the old edge points to the Burgundy basket with 5:4 ratio

Thats alright
I only have 1000 ER in my bucket
And I am not intending to move to burgundy axis

 

[SteelSh0t]

why are so many eager for Burgundy account?
10L at 3% loses you 6k per month
30L at 7% loses you 7.5k per month
As minimum growth for that huge money should be 10% atleast

10% growth is only possible in equity. Debt instruments don't give a 10% yield annually.

 

[CardScout]

why are so many eager for Burgundy account?
10L at 3% loses you 6k per month
30L at 7% loses you 7.5k per month
As minimum growth for that huge money should be 10% atleast

to be honest, I am already a burgundy client via family ID. Already had around 6L before sept 1.

 

[CardScout]

You need a salary account of over 3 lakhs or total relationship value of 30 lacs to be maintained for at least 45 days to qualify for the lifetime free Magnus for burgundy credit card
that is the definition of true burgundy

I am hearing "true burgundy" a lot, but haven't got any communication with this keyword from Axis

 

[anirban.choudhuryanirban.choudhury is verified member.]

I am hearing "true burgundy" a lot, but haven't got any communication with this keyword from Axis

Thats because you are not a "true burgundy" as per Axis

 

[MilesMax]

why are so many eager for Burgundy account?
10L at 3% loses you 6k per month
30L at 7% loses you 7.5k per month
As minimum growth for that huge money should be 10% atleast

To get Magnus for Burgundy LTF and most importantly 5:4 conversion ratio.
Many people can extract a lot more value from the 5:4 transfers tax free than the missing 4-5% which is taxed at highest slab.

 

[CardScout]

Thats because you are not a "true burgundy" as per Axis

Even my father having more than 3L salary hasn't got it yet

 

[anirban.choudhuryanirban.choudhury is verified member.]

10% growth is only possible in equity. Debt instruments don't give a 10% yield annually.

Indusind offers 3.5% on funds upto 10 lakhs and ,4.5% on funds above 10 lakhs

 

[anirban.choudhuryanirban.choudhury is verified member.]

Even my father having more than 3L salary hasn't got it yet

In this case you can ask axis to provide him Burgundy Magnus
Just call customer support they would generate the card on call