Should getting Axis Bank Magnus for Burgundy (M4B) is valid in below case

[kunalsignup1]

I have done my tentative spend for year. Should I go with M4B
I have infinia and Atlas with mi,

Need to maintain 10 lakhs post card issue. Added opportunity loss (Plz don't consider MF return are 12%, I am considering 7.2% FD)

You suggestion will be much appreciated. Also unble to find example for Axis 5X for grad deals for m4b.

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[abhiaj_geek]

Honestly Infinia + Atlas will do the trick for most cases. And M4B is a behemoth to maintain.

 

[Pissant]

Yeah unless you were keeping 10lk in your account for liquidity reasons anyway you shouldn’t really consider M4B. FD in a bank like IndusInd will be a much better option.

 

[kunalsignup1]

Honestly Infinia + Atlas will do the trick for most cases. And M4B is a behemoth to maintAgree

Agree. That's why checking other point of.. Before making blunder 🙂

 

[abhiaj_geek]

Yeah unless you were keeping 10lk in your account for liquidity reasons anyway you shouldn’t really consider M4B. FD in a bank like IndusInd will be a much better option.

Why so? We can get Pioneer status, hence?

 

[Pissant]

Why so? We can get Pioneer status, hence?

No I just said IndusInd because they have a high Interest rate. Even IDFC is fine

 

[Dg2476]

There are slab wise interest rates in all the banks, usually better interest rate start from 5-10 lacs, so you wont loose much keeping money in any of the banks.

 

[abhiaj_geek]

Does it really make sense to keep money in FD anymore other than for emergency funds?
I mean the net interest rate after tax will come down to <5%.

 

[redcarpet]

Does it really make sense to keep money in FD anymore other than for emergency funds?
I mean the net interest rate after tax will come down to <5%.

Its for Emergency purposes only yes.

 

[sourpai]

Does it really make sense to keep money in FD anymore other than for emergency funds?
I mean the net interest rate after tax will come down to <5%.

Yeah it makes sense if one has sizeable liquid networth and follows asset allocation strategy in some ratio of Equity / Debt / Gold (as per risk profile)

 

[abhiaj_geek]

Hm. Makes sense

 

[kunalsignup1]

Why so? We can get Pioneer status, hence?

nope. My two international trip's are planned. It's just I have option to evaluate. Trying maximum benefits. Getting M4B is not issue to me

 

[kunalsignup1]

Yeah it makes sense if one has sizeable liquid networth and follows asset allocation strategy in some ratio of Equity / Debt / Gold (as per risk profile)

Yes. Hence already mentioned * (Plz don't consider MF return are 12%, I am considering 7.2% FD). Also account balance helpful for VISA's processing