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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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Harry1 said:
Just called burgundy customer care now and she said that my card annual fee is showing as 0. So they have probably already converted it.

I did pay 11800 last year and while applying was showing annual fee also as 11800. But now it seem to be converted to LTF. I will get an email confirmation too. Finally a superb news as burgundy customer.

Just try calling and see.
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Please share the email confirmation, once you get it
 
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Harry1 said:
Lol, I called again now to ask regarding 5:4 conversion and 5000 voucher offer. (5000 yatra voucher as welcome benefit redeemable via same axismagnus thriwe portal, nothing on renewal).

And asked about my card fee again and then he says it is chargeable card and showing 10K fee. I asked him to double confirm mentioning about morning call. And he said same thing again. No idea what is happening😔.

I do have recording of both the calls. Will wait for their email response 😅.
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LTF denied by premium experience email. Now sent mail with Twitter screenshot and Call recording.
 
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Harry1 said:
LTF denied by premium experience email. Now sent mail with Twitter screenshot and Call recording.
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By looking at the complexities involved in getting Magnus CC LTF for your Burgundy account, it is now fairly evident and safer to assume that Magnus CC annual fee will be waived provided the status of Burgundy account is maintained, irrespctive of the outcome of your current conversation with AXIS....
In other words, it is not LTF based on Burgundy , only fee waived as long as Burgundy status is intact...

Any opinions?? anyone??
 
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hrish88 said:
Call your RM. My RM confirmed it. It won't be LTF. But there will not be any charges as long as you maintain the balance.
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Already emailed her. I want it in writing now, as they are switching their statements 😅.

Edit: My rm called and said that some changes are happening and I need to wait till end of August for official confirmation. Didn't confirm on anything 😅. I told her about Twitter message, which she agreed, but still told to wait.

So I guess final news will be around 1st September only.
 
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ARV said:
Even if it makes sense why would someone trust AXIS now and lock their 10L, especially after the statement "Time bound offer" for 5:4 transfer ratio and no one is talking about the "Time bound offer"
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My RM told me that it is a time bound to enroll into "Magnus LTF and continue 5:4 redemption (till next wave of devaulation)" offer. After the offer is over, you can only get Select as free. Also if you do not meet the conditions of Burgandy in anay quarter,then you will loose the offer. Magnus will be chargable and you cannot redeem at 5:4 ever again.

He also told things will be clear only after 25th August or so. But above information is what he gathers from his manager.
 
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ankitfintech said:
If this is to be true then what was the tweet they posted... I guess this message could mean it's not offered at present whereas the tweet clearly said it will be available from 1st Sept.. just want to remain hopeful 🙂
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Axis and it’s ways even god can’t decipher.
Guess just wait out a bit for dust to Settle in September for a clearer picture. Hoping against hope.
 
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chasni said:
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.
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Hello Mate

I'm also in the same situation but the reality of Burgundy is as below.
Doesn't matter what the bank official says, ultimately they will not be able to upgrade you to Burgundy if the following conditions are not met & I'm telling you as per the product description:-

1. For a Burgundy account what you need to do is to maintain 10 L in savings/current for 3 month(For existing account) in continuous so that your AQB is 10 Lakh then you will be successfully upgraded to Burgundy.
2. Once you are upgraded then you can put a 30 L FD under same Customer ID/Family ID & take out all the money from savings & make it a 0 balance but your burgundy status will remain active.
3. On the other hand even if you have 1 CR FD and a normal savings account which doesn't have 10 L balance you can't be upgraded to Burgundy unless you have some extremely high level connections. Doesn't matter whatever your RM says, they will not be able to do.
 
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Ankur dhanda said:
View attachment 25080
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The official communication supposed to come by 30th August.
Twitter is not an official way communication so they will not say you the reality until it happens in real.
After going through all the post & according to my discussion with AXIS Bank officials my personal view is:-

It is evident that burgundy customers will get Magnus LTF for sure but 2-3 points need to be clarified where product team is working & AXIS will come back by September 1st is:-

1. To get Magnus LTF whether an existing Burgundy account will help or a new Burgundy needs to be open.
2. If someone doesn't maintain Burgundy will Magnus still remain Life Time Free?
3. What would be transfer ratio between Burgundy vs Non-Burgundy Customers?? Will it be 5:4 vs 5:2 as expected or something else?
4. Till how long this offer will last?

If anybody can clarify this according to his on views, it's most welcome.
 
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souvikdey2002 said:
The official communication supposed to come by 30th August.
Twitter is not an official way communication so they will not say you the reality until it happens in real.
After going through all the post & according to my discussion with AXIS Bank officials my personal view is:-

It is evident that burgundy customers will get Magnus LTF for sure but 2-3 points need to be clarified where product team is working & AXIS will come back by September 1st is:-

1. To get Magnus LTF whether an existing Burgundy account will help or a new Burgundy needs to be open.
2. If someone doesn't maintain Burgundy will Magnus still remain Life Time Free?
3. What would be transfer ratio between Burgundy vs Non-Burgundy Customers?? Will it be 5:4 vs 5:2 as expected or something else?
4. Till how long this offer will last?

If anybody can clarify this according to his on views, it's most welcome.
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I just shared what was communicated to me by bank.
We all need to wait and see what Axis will actually do 🤷🏻‍♂️
 
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