Axis waives Magnus and Horizon fees for Burgundy clients
A rare buff in a year of cuts: from 1 July 2026 Axis waives the joining and annual fee on Magnus (₹12,500 + GST) and Horizon (₹3,000 + GST) for customers opening a Burgundy account on or after that date — no ₹25 lakh spend milestone required. Existing cardholders are fenced out.
Something unusual in 2026: an Axis change that gives, rather than takes. From 1 July 2026 the bank waives both the joining and annual fee on the Magnus and the Horizon for customers who open a Burgundy account on or after that date. That’s ₹12,500 + GST wiped on Magnus and ₹3,000 + GST on Horizon — and, critically, no ₹25 lakh annual-spend milestone to chase to keep the waiver.
Read the fence carefully, though. This is for new Burgundy relationships, not a gift to the Magnus and Horizon holders who already carry the cards; their usual spend-based waiver conditions are unchanged. It’s a customer-acquisition lever aimed at Axis’s private-banking funnel, not a portfolio-wide give-back.
For an Axis Burgundy client, the maths still shifts meaningfully. Magnus lost its enthusiast crown when the 25,000-point milestone died and the transfer ratio was halved — but at a genuine ₹0 carrying cost, a diminished Magnus reads very differently from a ₹12,500 one. Free lounge access, decent base earn and a metal card you never pay to hold is a defensible keep.
Our take: if you’re a Burgundy customer opening the account fresh, take the free Magnus — the downside is gone when the fee is. If you already hold it and pay the fee, nothing changed for you here, and the spend-waiver calculus is the same as last week.