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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
Why, after so much drama about devaluation, Axis have decided to be so generous with Burgundy customers? It used to be LTF Select, and now all of a sudden it's LTF Magnus? What's the catch?!
Or, maybe in the coming days we are going to see notification from Axis of some name-change affidavit in newspapers: Select ---> Magnus? 🙂
Or, maybe in the coming days we are going to see notification from Axis of some name-change affidavit in newspapers: Select ---> Magnus? 🙂
knight
TF Legend
They're just using the leftover hype of magnus to gain high value customers.
This will also help them get more money for their core business.
If Magnus is free till we hold Burgundy account, why it is called LTF? Also doesn't make sense to keep 10 lakh just for CC ,unless someone uses it for other beneficial purpose.
In corporate offers, they are providing Magnus, Atlas, Select LTF for salary accounts with Axis / Citi and they are mentioning there LTF. So if anyone changes their salary account after employer change / any other reason, will those cards be also chargeable? If yes, LTF is incorrect word to use in communication.
In corporate offers, they are providing Magnus, Atlas, Select LTF for salary accounts with Axis / Citi and they are mentioning there LTF. So if anyone changes their salary account after employer change / any other reason, will those cards be also chargeable? If yes, LTF is incorrect word to use in communication.
I too have similar thoughts but it also depends on what you have and how much you earn..
Keeping 10L just for the card would make you loose investment opportunities which would yield benefits much more than paying 12.5k to Axis
But, for someone who earns a good amount of salary (Let ballpark it to 60L per year) wouldn't mind keeping it as an emergency fund if benefits are justified for their usecase.
No. for FD, it's 30L.
It wouldn't harm in reading T&C for keeping Magnus as LTF (link): https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/mgtc.pdf
Here, they say FD would be counted in TRV, they want TRV of 30L or 10L in saving accounts
D
Deleted member 16965
Guest
In case of only FD: 30L NRV
In case of Savings/Current account: 10L Quarterly Balance
In case of Demat: 1 Cr NRV
Yup, that's what I mentioned too, but you gave the complete gist... Thanks!!!
Which bank do they have a tie-up with?
CARDBITRAGE
TF Legend
Yes. That’s how it works in all banks. Family banking allows all members to share the benefits.
Yes, the dependent member accounts will upgrade to Burgundy
My mother has an account in Axis and the TRV is well above 30L but she is still a priority customer (not Burgundy) without any RM. Moreover, my account is linked to her with a family banking ID but still it is a basic account. I went to nearest branch last week to get her upgraded to Burgundy, including my account. The rep said that they can upgrade my mother but they cannot upgrade me unless I maintain my own TRV. So, I asked them the use of Family Banking if the collective TRV is not being considered. Also, I showed him the Burgundy pdf where it is says eligibility is calculated at Family ID or Customer ID level. He didn't have an answer for that. He said he will email and check with back-end team. Next step is to threaten them with closing the account.
