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Demat holdings criteria for Axis Burgundy

statusquo

TF Select
Hi,

I saw the 1 cr requirement for Axis Burgundy demat holdings. If I transfer SGBs worth 1 cr from Groww into my Axis demat account, would that qualify me for Axis Burgundy? So, my question has 2 parts -
- Do SGBs count in the demat holdings criteria?
- Can I transfer these demat holdings in or do I have to buy them on Axis itself?
 
Transferred demat holdings of 1 Cr & above, as accepted criteria to become Burgundy, is disputed, to be honest.

Till someone actually transfers and becomes Burgundy, it'll remain a never ending discussion.

In my case, I was first told by the Branch Head and RM that it doesn't qualify.
RM later said he checked and found that transferred option also works.

Another person on the forum has 'confirmation' that transferred holdings dont count.

So, it's up in the air currently.
 
When I asked to my RM he told me if I transfer my Mutual fund then they will count 50% of its value under TRV of 30lac. In short 60 lac of MF is counted for TRV calculation.
Off Question: These Banks don't support the Direct Mutual Funds but by this method firstly we can buy them on Zerodha (as it stores them in Demat A/c) and then we can transfer them to Axis Direct / ICICI Direct / HDFC Securities and then we can continue the SIP's from there?
 
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