Axis Bank Magnus Credit Card

Annual fee

Annual fee ₹12,500 + Taxes; waived off on spend of ₹25 Lakhs in preceding year

Joining fee

₹12,500 to join.

Fee waiver rule

Annual fee of ₹12,500 + Taxes waived off* on spend of ₹25 Lakhs in preceding year.

Add-on card fee

₹0

Welcome benefit

Choose any one voucher worth ₹12,500 from below options: · Luxe gift card or The Postcard Hotels gift voucher or Yatra gift voucher.

Reward rate

Earn 12 EDGE Reward points per ₹200 on spends up to ₹1.50 Lakhs and 35 EDGE Reward points per ₹200 on incremental spends above ₹1.50 lakhs in a calendar month

EMI spend earning

EDGE Reward Points are debited for transactions converted to EMI; not credited back on EMI cancellation.

Fuel earning

Fuel MCCs not eligible to earn base EDGE Reward Points and accelerated reward points.

Government spend earning

Government Institutions not eligible for EDGE Reward Points.

Insurance spend earning

Insurance MCCs not eligible to earn base EDGE Reward Points and accelerated reward points.

Rent earning

Rental transactions: base and accelerated EDGE Rewards earn capped at ₹50,000 spends per calendar month; incremental spends above ₹50,000 not eligible.

Travel earning

Earn 60 EDGE Reward Points for every ₹200 spent on Travel Edge portal, up to cumulative transactions of ₹2,00,000 per month

Utilities earning

Utility and Telecom MCCs not eligible for EDGE Reward Points.

Wallet load earning

Wallet Transactions not eligible for EDGE Reward Points.

Reward exclusions

Wallet Transactions, Gift card purchases, Government Institutions, Utility, Telcom and Utility & Telecom MCCs will not be eligible for EDGE Reward Points; Insurance, Fuel and Gold & Jewellery MCCs will not be eligible to earn base EDGE Reward Points and accelerated reward points.

Reward caps

35 EDGE reward points are capped on spends up to your assigned credit card limit + ₹1.50 Lakhs per calendar month

Catalogue redemption

Redeem points for travel vouchers, electronic items, and more from the eDGE Rewards catalogue.

Points transfer redemption

Transfer upto 5 Lakh EDGE reward points to 20 travel partners in a calendar year (upto 1,00,000 in Group A partners and the rest 4,00,000 in Group B partners)

Voucher and product redemption

Points can be redeemed for travel vouchers and electronic items; pay with points across partner stores.

Airline and hotel partners points may move to

Earn 2 partner miles for every 5 EDGE Reward points across 20 travel partners.

Domestic lounge access

Enjoy unlimited visits to select airport lounges in India.

International lounge access

Avail unlimited complimentary international lounge visits and 4 additional guest visits per year with the priority pass card.

Priority Pass

Priority Pass card: unlimited complimentary international lounge visits and 4 additional guest visits per year.

Hotel or travel programme

15% savings on bed and breakfast rates at The Leela Palace Hotels & Resorts.

Dining programme

Enjoy exclusive discounts at over 4,000 restaurants across India

Fuel surcharge waiver

Fuel surcharge waiver of 1% for transactions between ₹400 to ₹4000 Capped at ₹400 per month.

Lost card liability

Lost card liability and purchase protection programs.

Purchase protection

Purchase protection and lost card liability programs.

Add-on card eligibility

Add-on cardholder should be over 18 years.

Forex markup

2% on foreign currency transactions.

Dynamic currency conversion markup

2%2% of the transaction value for MAGNUS Credit Card and MAGNUS FOR BURGUNDY Credit Card

Cash advance fee

No cash withdrawal fees

Cash advance interest

Interest on cash advances: 3.0% per month (42.58% per annum)

Interest on unpaid balance

3.0% per month, 42.58% per annum.

Interest-free period

The interest-free credit period could range from 20 to 50 days, depending on the date of transaction

Late payment fee

Nil if total payment due is up to ₹500; ₹500 if total payment due is between ₹501 and ₹5,000; ₹750 if total payment due is between ₹5,001 and ₹10,000; ₹1,200 if total payment due is between ₹10,001 and ₹50,000; ₹1,300 if total payment due is greater than ₹50,000

Over-limit fee

2.5% of the over-limit amount, subject to a minimum of ₹500

Payment return or dishonour fee

2% of the payment amount subject to Min. ₹500

Statement or duplicate statement fee

Duplicate statement fee waived

Card replacement fee

Replacement fee: Waived

Cash payment / cash deposit fee

₹175 per cash payment at branches; daily limit for cash payment is ₹50,000.

Cheque payment / dishonour fee

Outstation cheque fee waived

Education / school fee charge

1% fee per transaction on education payments made via third party apps.

Fee on online skill-based gaming spends

1% fee on cumulative spends of ₹10,000 or more on online skill-based gaming platforms in a statement cycle.

Foreign ATM fee

Cash withdrawal fee waived (ATMs in India or overseas)

Wallet load charge

1% fee on cumulative spends of ₹10,000 or more on wallet loads per statement cycle.

What the card's fee or benefit year means

Anniversary Year is the period of 12 months from the date of issuance of the card and every 12-month period thereafter

Fuel transaction fee

1% fee on cumulative spends of ₹50,000 or more on fuel transactions per statement cycle.

Rent transaction fee

1% fee per transaction on each rental transaction; taxes applicable as notified by Government of India

Utility transaction fee

1% fee on cumulative spends of ₹25,000 or more on utilities per statement cycle.

GST note

GST, as notified by the Government of India, is applicable on all fees, interest and other charges, and is subject to change as per relevant regulations of the Government of India

Grace days after the due date

Grace period of 3 days from the payment due date, where payments are not overdue; the customer must clear dues by the payment due date mentioned in the credit card Statement.

Minimum amount due

Sum of all instalments, all Fees, interest / finance charges, taxes, the amount utilized over the credit limit (if any) and 2% of remaining balance outstanding, subject to a minimum of ₹100

Age the primary cardholder must be

Primary cardholder aged 18-70 years; add-on cardholder over 18 years.

Income requirement

Net Salary of ₹24 lakhs per annum or Net Annual Income Tax Return filed for ₹24 Lakhs

Income, salaried

Net Salary of ₹24 lakhs per annum.

Income, self-employed

Net Annual Income Tax Return filed for ₹24 Lakhs

Minimum age

Primary cardholder should be between the age of 18-70 years.

Documents required

Latest payslip, Form 16 or IT return copy as proof of income.

Residency

Resident of India