Burgundy Private Card vs Magnus for Burgundy Card

[uchitshah]

Hello,

Monthly Expenditure around 1.2 lac
Few months more than 1.5 lac also

I already have a Maugus for Burgundy Card (M4B) with a very decent limit.

I am been upgraded to Private and I have option to opt for Burgundy Private Card (BP) or they call it as Axis One Card. This will also be LTF.

What is the added benefit I will get?

I am never going to use golf benefits.

Lounge is already free unlimited times via. M4B also.

M4B gives 12 ER for 200 Rs
And 35 ER for 200 Rs (Above 1.5 lac per statement) Accelerated Rewards.

BP gives 20 ER for 200 Rs (even above 1.5 lac also same rewards)

I am seriously confused, should I opt for BP Card, it's not about being lifetime free, it is about what added benefit I can get out of it, it does give me few membership of few hotels

Can anyone who has BP Card tell me about any added benefit they found useful with this card?

 

[uchitshah]

So ppf also comes in 30l TRV?

For which criteria you asking this for ??

Burgundy Private yes.. but trv is 5cr without demat

30L trv is for Burgundy
Which doesn't include ppf, I think now demat is also not consider for Burgundy also.

 

[jack333]

For which criteria you asking this for ??

Burgundy Private yes.. but trv is 5cr without demat

30L trv is for Burgundy
Which doesn't include ppf, I think now demat is also not consider for Burgundy also.

@drsel @Harry1 does ppf and demat mf come in 30l TRV for burgundy?

 

[Harry1]

@drsel @Harry1 does ppf and demat mf come in 30l TRV for burgundy?

No idea, different people say different things. Demat is definitely under 1 cr trv and FD under 30L. Rest is not mentioned explicitly.

 

[drsel]

@drsel @Harry1 does ppf and demat mf come in 30l TRV for burgundy?

PPF is not included.
Only Mutual funds and shares of 1 crore bought through Axis qualify, because Axis has to earn commission or brokerage

 

[uchitshah]

@drsel @Harry1 does ppf and demat mf come in 30l TRV for burgundy?

For Burgundy

Demat Yes (must be atleast 1 cr)
PPF No
Main thing they pay most emphasis on is Saving Balance and FD.

 

[yashendra2797]

Can you share why ?
Near the financial year end, PMS would share the income report right ?

From what a CA told me, in PMS since the manager buys and sells shares frequently and its done on your name, you pay taxes on every sale. Meanwhile on MF you only pay taxes when you sell. So in a PMS even if my annual income requirement is say 20L, I'm paying taxes on the whole corpus being traded.

 

[Vinay13]

From what a CA told me, in PMS since the manager buys and sells shares frequently and its done on your name, you pay taxes on every sale. Meanwhile on MF you only pay taxes when you sell. So in a PMS even if my annual income requirement is say 20L, I'm paying taxes on the whole corpus being traded.

Yea this is called as churning the portfolio..managers will be try to catch momentum and get you that 10-20% upside so that you get nice annual return at end of year. This type strategies work in bull market only. You will see good annualised returns but stcg of 20% +STT+ brokerage charges you will have to pay

 

[yashendra2797]

Yea this is called as churning the portfolio..managers will be try to catch momentum and get you that 10-20% upside so that you get nice annual return at end of year. This type strategies work in bull market only. You will see good annualised returns but stcg of 20% +STT+ brokerage charges you will have to pay

Don't forget the sky high management fees 🙂

Bull market myopia is real.