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Axis Magnus Rumor with burgundy axis magnus could be LTF (by Sep 2023 it should be official by axis i think you never know though)

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@gg123

gg123 said:
I wanted to opt for axis select. but waiting for sept 1st. but I do have one question though please help me if you have the answer.
I will only maintain AQB for burgundy till January after that I'll just maintain 5-6 L. let's say I'll get downgraded in march.
will the select become chargeable ? though this is official rule. I have read they usually won't charge but BM said they will charge. if there is anyone that can confirm it is LTF ?
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Trust Me said:
The Select specifications say that it is LTF for Burgundy customers (otherwise 3k + GST). The BM said it would become chargeable once you lose your Burgundy status. I don't see any scope for confusion.

If, based on something you've read somewhere, you choose to believe that they would take pity on you, that's on yourself!
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+1 , I second this... nothing else to say...
 
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gg123 said:
@TechnoFino Mentioned in a post that "They usually don't charge"
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being USUALLY the keyword.. It could be OCCASSIONALLY Charged...
So it depends if you falls under USUALLY bucket or OCCASSIONALLY bucket.. entirely depends on the luck...
I believe , you could take the risk..., if not working towards you then you have option to end the Select relationship....
 
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They will charge.. but as per RBI they need to send you a mail/sms that you have been downgraded . If they dont, and still charge (the usual practice which many banks do after changing the salary account), you can register a grievance that u were not informed.
 
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pvr2iitd said:
I think its 10 lacs. for burgundy salary, it's 0. They give the ultimate burgundy salary account. RM confirmed me that Magnus is LTF with that.
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Ok bro thanks for your reply. Burgandy salary means , my salary account has to be min 3L per month know bro ?

When i asked the branch , they are saying its 5L , can someone please confirm on this ?

RM confirmed me that Magnus is LTF with that -> this one you are referring from Sep 1st ha bro ?
 
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Sai Ganesh said:
Ok bro thanks for your reply. Burgandy salary means , my salary account has to be min 3L per month know bro ?

When i asked the branch , they are saying its 5L , can someone please confirm on this ?

RM confirmed me that Magnus is LTF with that -> this one you are referring from Sep 1st ha bro ?
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It was LTF with salary credit in axis account 3l and other bank account 5l since a long time. From 1sep they are most likely going to make it LTF with normal burgundy saving account as well
 
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ankitfintech said:
Btw my local branch credit card person told that for burgundy they will be issuing Magnus Plus instead of Magnus .. He just said plus will have more benefits. Dint share if it will be FYF or LTF or free till burgundy status..
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Hahaha.....could be the typical third party sales person.....who can do or say anything to the customers
 
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My RM also confirmed LTF for Burgundy Salary account. Now, I am in two minds, as i mostly travel domestic, and converting to CV would return at max 15% (if i book using Travel Edge). Spends are easily around 1.5 lacs per month. (CV is around 0.6/0.65 per Re.) However, meet and greet, BMS + add-on BMS, are enticing. (I am a big movie buff).

Can anybody please shed some light on the kind of rewards one can get on vouchers of grocery (blinkit/big basket), zomato/swiggy, and fashion brands- like lifestyle, shoppers stop, arrow, hidesign, etc? is it 2x/3x/5x? And are there any upper caps on the value of voucher one can buy (like in Infinia?)
 
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pvr2iitd said:
My RM also confirmed LTF for Burgundy Salary account. Now, I am in two minds, as i mostly travel domestic, and converting to CV would return at max 15% (if i book using Travel Edge). Spends are easily around 1.5 lacs per month. (CV is around 0.6/0.65 per Re.) However, meet and greet, BMS + add-on BMS, are enticing. (I am a big movie buff).

Can anybody please shed some light on the kind of rewards one can get on vouchers of grocery (blinkit/big basket), zomato/swiggy, and fashion brands- like lifestyle, shoppers stop, arrow, hidesign, etc? is it 2x/3x/5x? And are there any upper caps on the value of voucher one can buy (like in Infinia?)
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You can find the accelerated rewards on vouchers and capping (on select vouchers like amazon, flipkart) here - https://www.gyftr.com/edgerewards

Also, the value of CV can change based on sector to sector and the days b/w booking and travel. For some sectors like Delhi to Dibrugarh or Bhubaneswar (a bit rare) - I can get a flight in 6K & 5K CV + GST, when the actual ticket would be around 7K+ & 6K+ respectively.
 
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raaz_rs2 said:
You can find the accelerated rewards on vouchers and capping (on select vouchers like amazon, flipkart) here - https://www.gyftr.com/edgerewards

Also, the value of CV can change based on sector to sector and the days b/w booking and travel. For some sectors like Delhi to Dibrugarh or Bhubaneswar (a bit rare) - I can get a flight in 6K & 5K CV + GST, when the actual ticket would be around 7K+ & 6K+ respectively.
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Thanks bro. but don't see myself going to Dibrugarh or Bhubhaneshwar in the near future. but i got ur point.
 
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ankitfintech said:
Btw my local branch credit card person told that for burgundy they will be issuing Magnus Plus instead of Magnus .. He just said plus will have more benefits. Dint share if it will be FYF or LTF or free till burgundy status..
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Magnus plus is like Infinia Reserve. People need to be more creative, they ruin the names with adding a plus or simply copying Axis's reserve to HDFC's infinia.
 
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