Axis Bank Burgundy Savings Account

What Is the Axis Bank Burgundy Savings Account?

The Axis Bank Burgundy Savings Account forms part of Axis Bank’s Burgundy wealth-management programme. A Burgundy Savings Account is required to join the Burgundy programme. Customers comparing an Axis Bank Savings Account can consider the Burgundy Savings Account when they want banking and investment services under one relationship.

Features and Benefits of Axis Bank Burgundy Savings Account

The Burgundy Savings Account offers the following banking, investment and family benefits:

• Wealth-Management Access: Customers can access wealth management solutions including deposits, investments, insurance and advisory services through the Burgundy programme.
• Debit Card Benefits: The Burgundy Debit Card allows you to withdraw cash of up to ₹3 lakh and make purchases of up to ₹8 lakh per day. It also offers EDGE REWARD Points and selected travel, dining and lifestyle benefits.
• Insurance Benefits: Eligible cardholders receive air accident cover of ₹1 crore, personal accident cover of ₹15 lakh and purchase protection of ₹50,000.
• Banking Facilities: The supplied tariff lists unlimited free transactions at Axis Bank and non-Axis Bank ATMs. Online NEFT, RTGS and IMPS transactions carry no charge.
• Family Banking: Customers can add up to five family members. The family can meet the Burgundy conditions together, but every member must hold a Burgundy Savings Account to receive benefits.

Customers comparing options for a suitable savings account in India should check the eligibility conditions needed to retain Burgundy status.

Eligibility Criteria for Axis Bank Burgundy Savings Account

Customers must provide an initial funding cheque of ₹5 lakh or more. Once the account is active, the customer must qualify through any one of the following routes:

• Keep ₹10 lakh as the average monthly balance in the savings account.
• Keep a combined average monthly balance of ₹10 lakh across savings and current accounts.
• Maintain a Total Relationship Value of ₹30 lakh.
• Maintain a Total Relationship Value of ₹1 crore when Demat holdings form part of the relationship.
• Receive more than ₹3 lakh as net salary every month in an Axis Bank Salary Account.
• For NRIs, receive at least ₹40 lakh through foreign inward remittances over the last 12 months.

Axis Bank calculates the Average Monthly Balance (AMB) using the average daily balance maintained during the month. It requires customers to maintain the stated Total Relationship Value throughout the month. If no condition is met, the bank may move the account to a lower savings account category after giving notice.

Fees and Charges for Axis Bank Burgundy Savings Account

Axis Bank specifies the following balance requirements and debit card charges for the Burgundy Savings Account:

However, terms and conditions apply. The detailed Burgundy tariff also covers other service-related charges. It lists 20 free cheque leaves each year, with additional leaves charged at ₹4 each.

NetSecure with 1 Touch carries an issuance fee of ₹1,000. Axis Bank also specifies a daily ATM withdrawal limit of ₹3 lakh and a purchase limit of ₹8 lakh.

For customers seeking the best savings account for premium banking and wealth management, the ₹5 lakh initial funding and ongoing relationship conditions are important factors to consider.

How to Open the Axis Bank Burgundy Savings Account

Customers can contact Axis Bank or check the official page to request a callback in order to begin the application process. Keep the initial funding cheque of ₹5 lakh or more ready along with the required KYC documents. The application is then checked by Axis Bank and if it is eligible, the account opening process is initiated once all the requirements are fulfilled.