Is it wise to open a Burgundy Savings Account considering I am earning much higher interest on my money elsewhere?

[kunaljn91]

Hi Team,

I have recently got to know about Burgundy Savings Account and the kind of benefits associated with the same!
Just wanted to know will it make sense to park my money in axis bank?

PS: they want me to maintain 5L AQB
I have calculated the difference in interest it will be 8500Rs/ year!

Can someone please enlighten me, regarding the benefits (fine prints/details) that will outweigh the interest!

TIA

 

[ARV]

Burgundy private customers get the highest variant of Burgundy private metal credit card, they don’t have to think about Magnus or select or privilege

They both are different, they have 2 variants of Burgundy accounts, one is regular Burgundy and 2nd one is Burgundy private.
Burgundy private has a TRV of 5CR and Burgundy has a AQB of 10L.
Burgundy metal credit card is given to Burgundy private customers and not Burgundy customers.

 

[Rashya]

They both are different, they have 2 variants of Burgundy accounts, one is regular Burgundy and 2nd one is Burgundy private.
Burgundy private has a TRV of 5CR and Burgundy has a AQB of 10L.
Burgundy metal credit card is given to Burgundy private customers and not Burgundy customers.



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That is what I have also told, I have discussed only about Burgundy private and not about regular Burgundy account

 

[rj_arora]

Is it possible to open Burgundy Salary account, if someone works in an unknown startup and the company is not in Axis partner list?

 

[dhshankar]

I'll upload a video on this particular topic next week 🙂

@TechnoFino waiting for this video 🙂

 

[Harry1]

Is it possible to open Burgundy Salary account, if someone works in an unknown startup and the company is not in Axis partner list?

Yes, if u are getting 3L salary in that account.

 

[TechnoFinoTechnoFino is verified member.]

@TechnoFino waiting for this video 🙂

The video will go live today 12.30 PM

 

[AsB]

Is it possible to open Burgundy Salary account, if someone works in an unknown startup and the company is not in Axis partner list?

In most cases No. Salary accounts cannot be opened in banks, which do not have any business with a company.

 

[rj_arora]

Yes, if u are getting 3L salary in that account.

One customer executive told me that it cannot be opened since they do not have any partnership with the company. That's why clarifying

 

[Batmanbaba]

One customer executive told me that it cannot be opened since they do not have any partnership with the company. That's why clarifying

U cant open salary accounts in private banks.. If they dont have tieup with your company.....

 

[Harry1]

One customer executive told me that it cannot be opened since they do not have any partnership with the company. That's why clarifying

That's what I told. For salary account, salary needs to be credited in that account.

 

[rj_arora]

That's what I told. For salary account, salary needs to be credited in that account.

salary is already being credited

 

[Harry1]

salary is already being credited

Lol then they should upgrade it. Try raising it in mobile app section by selecting update employer details and migrate to salary account.
If nothing works, mail to PNO.

 

[AsB]

salary is already being credited

Even if salary is being credited, it is very unlikely that you would be getting the benefits of a salary account. It will just be a regular account where you get money from a company.
Unless the company you work in, has business with the bank, then the account won't be a salary account

 

[ObliviousAlive]

My RM is no way ready to give Magnus for free she is like no means no LOL but she is offering Signature or select only for LTF

so what happens when u r issued a LTF credit card but later on when u r no longer having burgunday status? is cc chargeable

 

[Harry1]

so what happens when u r issued a LTF credit card but later on when u r no longer having burgunday status? is cc chargeable

Yes

 

[AsB]

so what happens when u r issued a LTF credit card but later on when u r no longer having burgunday status? is cc chargeable

Technically it should be chargable, but as most account holders pointed out, they don't charge for Select.

 

[BankExpertIndia]

Hi Team,

I have recently got to know about Burgundy Savings Account and the kind of benefits associated with the same!
Just wanted to know will it make sense to park my money in axis bank?

PS: they want me to maintain 5L AQB
I have calculated the difference in interest it will be 8500Rs/ year!

Can someone please enlighten me, regarding the benefits (fine prints/details) that will outweigh the interest!

TIA

If You Can Harvest Value Of Rs.8500 At Least With Burgundy Account Then Go For It... Otherwise Leave It For Sometime.

 

[Vickymaster1010]

Hi Team,

I have recently got to know about Burgundy Savings Account and the kind of benefits associated with the same!
Just wanted to know will it make sense to park my money in axis bank?

PS: they want me to maintain 5L AQB
I have calculated the difference in interest it will be 8500Rs/ year!

Can someone please enlighten me, regarding the benefits (fine prints/details) that will outweigh the interest!

TIA

Is it 5 or 10 lakhs

 

[starstruck]

Is it 5 or 10 lakhs

5 to open. 10 to maintain the status. Normally.