Burgundy Private

[hirenspare]

Hi,

Eligibility criteria on the website says maintaining TRV of 5 Cr. I have read somewhere that they actually open Burgundy Private relationship with much lower TRV. Can anyone share their experience on how much TRV was expected.

Thanks..

 

[Vinay13]

One card is not that worth the hassle I believe

 

[PreciousTincture]

isnt it as good or better than M4B wiithout the 30k fee( in case one can get the salary account setup and they do offer it for free)

also 0% forex

 

[Trust Me]

What's so special about Burgundy Private? The plain Burgundy being Zero, is it a bigger ZERO, only to be discussed in private?

After all, the bank behind it is still Axis!
.

 

[sourpai]

isnt it as good or better than M4B wiithout the 30k fee( in case one can get the salary account setup and they do offer it for free)

also 0% forex

It depends. In the months exceeding 1.5L expense, M4B is better than OneCard. 14% vs 6% (even with forex charges added)

Even during regular months, there is breakeven number around 2L per month expense which will give same returns on both cards. So depending on expenses you can take a call.

That being said, if you are getting Onecard easily then take it for sure. It also give extra 100K quota for group A limits over M4B. But my guess is that post 1 year, Axis will push for 5Cr TRV and not let you continue with 10L salary credit criteria, but thats after one year

 

[PreciousTincture]

i'll see if i can negotiate a BP account. if not M4B looks good to me. btw whats the easiest way to get it? I closed my Magnus years back ( 2023).

can i transfer like 3.5L to Axis every month ( from my HDFC account ), will they consider it as salary or need to park 10L ?
also are there any shortcuts or we have to wait for 90days ?