Burgundy private and yes private

[Bhagat Singh]

Anyone using burgundy private and yes private.

What's on ground reality??
How strict is yes bank and axis bank about trv/nrv for private clients??

I opened burgundy private today. Are there any charges ??

Do they spam you to meet NRV/TRV quickly?

If anyone using these accounts. Could you please share your experience??

How do i get burgundy private credit card once my account is opened ??

 

[Tejo]

Anyone using burgundy private and yes private.

What's on ground reality??
How strict is yes bank and axis bank about trv/nrv for private clients??

I opened burgundy private today. Are there any charges ??

Do they spam you to meet NRV/TRV quickly?

If anyone using these accounts. Could you please share your experience??

How do i get burgundy private credit card once my account is opened ??

You can ask your RM for BP credit card after 3 or 6 months*, you need to maintain required networth relationship until you get that bp card 😅

I think you will be the first one to share experience on burgundy private in this forum.

 

[Bhagat Singh]

You can ask your RM for BP credit card after 3 or 6 months*, you need to maintain required networth relationship until you get that bp card 😅

I think you will be the first one to share experience on burgundy private in this forum.

I will get nothing probably as i do not meet eligibility criteria. My branch manager is good. So i asked her to open my burgundy private account. Anyone can open burgundy private with 0 IP. But need to meet 3CR relationship within 1 year. If you have good relationship with BM and private RM even 1 CR will work.
*I gave 20 lakhs cheque as initial deposit coz with 0 funding it's a little hard as bank need some kind of assurance that you can and will reach required relationship. But initial funding is not necessary.
My account is still under processing.
Also i will be keeping around 5 lakhs balance max. Will see what they do after 1st quater. Will they downgrade immediately after 1st quater as once account is opened i will tell private RM that I can't meet 5cr relationship.or they wait for 12 month before downgrade.

 

[Tejo]

I will get nothing probably as i do not meet eligibility criteria. My branch manager is good. So i asked her to open my burgundy private account. Anyone can open burgundy private with 0 IP. But need to meet 3CR relationship within 1 year. If you have good relationship with BM and private RM even 1 CR will work.
*I gave 20 lakhs cheque as initial deposit coz with 0 funding it's a little hard as bank need some kind of assurance that you can and will reach required relationship. But initial funding is not necessary.
My account is still under processing.
Also i will be keeping around 5 lakhs balance max. Will see what they do after 1st quater. Will they downgrade immediately after 1st quater as once account is opened i will tell private RM that I can't meet 5cr relationship.or they wait for 12 month before downgrade.

Can't we meet eligibility by transferring share holdings to Axis demat ?

Did you ask criteria for burgundy private credit card ?

 

[Bhagat Singh]

Can't we meet eligibility by transferring share holdings to Axis demat ?

Did you ask criteria for burgundy private credit card ?

Yes. You can transfer Mutual fund holdings to axis demat to meet eligibility.

10 lakhs is floor limit for private card. If you're maintaining relationship in Crores than they don't ask for ITR or any documents.
But everything depends on your relationship with your branch manager and private RM.
In private banking anything is possible basis internal approvals which depends on how knowledgeable and capable your RM is.
Everything is very quick in private banking.
I was kotak private client for 5 months but later downgraded to Platinum.
** If you already have any type of bank account with axis than it will not be possible to open burgundy private with 0 funding.

0 funding direct burgundy private account is only for new to bank customers.

Although normal Burgundy is nothing special 🤣🤣
My RM sits in Noida and never helped me on anything.
They changed my RM every 2 months.
All my family members are still burgundy.

 

[Tejo]

Thanks for the information

 

[Nemesis]

Any update do let us know