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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)
- Thread starter shibili
- Start date
That's the only reason I have closed my burgundy long back. They were even not ready to close the account, as senior management was not ready to lose the Burgandy customer, and asked for the reason, here I told I don't like your services, and they went mad, and delayed the account closure.
PRIYANSHU_
TF Premier
END Of ALL Discussion
"Magnus credit card is not life time free credit card"
"Magnus credit card is not life time free credit card"
haha.. that's why my BM is not responding from last few days. He had promised me LTF post 1st Sep.
shashank08
TF Premier
Ab to kisi ka RM/BM respond ni kar raha hai.. my RM asked me to wait till month end for some clarity..
I feel k ab wo next date dene wala hai Sept 2099 ki for further updates on LTF Magnus.. 😀 😀 😀
As per July communication it was Burgundy. However, they have gone silent now 🙂
Yah so they are planning to get a good 30 per person into bank. And of course salary 3 or 2 lakh per month thus narrowing down the people. So people with 10 lakh burgundy I don’t see anyone with 5:4 confirmed. They will give Magnus burgundy to their maximum funding customers save some face internally by showing huge deposits. My RM also now very silent. I was very sceptical why would they give 5000 special offering if LTF.
The whole process of promising, not updating, going silent etc isnt unknown territory for existing, but still sadly hopeful Burgundys.
It's the up and coming Burgundys who'll need to wonder what they are getting into.
Premium banking as it is a farce, be it Imperia, Wealths or Burgundys, in my experience.
Much ado about nothing.
It's the up and coming Burgundys who'll need to wonder what they are getting into.
Premium banking as it is a farce, be it Imperia, Wealths or Burgundys, in my experience.
Much ado about nothing.
For me its simple. I wait till September end. If no commitment of 5:4 I close my Burgundy Account. Open Atlas and close Magnus. HDFC Infinia is more reliable to continue lifelong 🙂
Axis doesn't understand that relationship is not built on a single day. Had they been a reliable bank I would have shifted a lot of my relationships with them be it Home Loans or current accounts.
The issue is not that Axis should give 5:4. In the end its their call. The issue is extremely poor communication 🙂
Axis doesn't understand that relationship is not built on a single day. Had they been a reliable bank I would have shifted a lot of my relationships with them be it Home Loans or current accounts.
The issue is not that Axis should give 5:4. In the end its their call. The issue is extremely poor communication 🙂
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Actually theoretically loans should be from from such banks because it’s their money, and our deposits should be in reliable too big to fail banks. 😁
It's not their Money Sir. It takes from RBI add 2.2.3% their commissions annually ( also called as NII) and gives it to you 🙂. The other way is the customer's money it has on Savings and FD..it adds its commission and then loans it to you. So for the Loan one person takes it ears around 2.2 to 10% anually depending on at what rate a person has taken the loan. Best is to reduce your exposure with such banks.
shashank08
TF Premier
That is also a point.. but promise karne mai kya jata hai unka..
Abhe tak bhe yehe chal rha hai inka... unfulfilled promises.. 🤣 🤣
Actually no, even if you take the loan from any bank, you have to repay. But service matters a lot. They do false promises. Kept me wait for one month. Then I took from icici bank.
So terrible of the Axis notwithstanding their commitment to the 1 Sep 2023 announcement and keeping on delaying the Magnus offering for the Burgundy even after more than a week shows their carelessness and foolishness at the same time.
I would prefer closing our Burgundy accounts with them instead of wasting so much time chasing the RMs and BM who themselves are clueless about the axsh*t going on with their management.
Wondering how difficult it is clear all the confusion once for all? Why the hell they are creating a ruckus for themselves and more for the customers? Either their is a bigger problem going on internally which they are hiding from the people or else they are foolish of the top notch level.
At least they should accept and apologize to their customers for creating all such confusions and then change the tagline to dimag se close 😉
I would prefer closing our Burgundy accounts with them instead of wasting so much time chasing the RMs and BM who themselves are clueless about the axsh*t going on with their management.
Wondering how difficult it is clear all the confusion once for all? Why the hell they are creating a ruckus for themselves and more for the customers? Either their is a bigger problem going on internally which they are hiding from the people or else they are foolish of the top notch level.
At least they should accept and apologize to their customers for creating all such confusions and then change the tagline to dimag se close 😉
drsel
TF Prestige
Just spoke to the Burgundy customer care and he said that due to technical errors in the points to miles conversion software in the mobile app, the Burgundy Magnus card holders are not getting 5:4 ratio right now.
once technical errors are sorted they will get it.
Whether to believe this or not is debateable.
Also he said there is no cooling off period for existing Magnus card holders who convert ordinary savings account to plain Burgundy saving account.
within 5 working days they will get SMS with a link to accept the offer of 5:4 conversion ratio, subject to them maintaining 10 lakh average quarterly balance or 30 lac fixed deposits, etc
