Axis burgundy savings AQB question

[iamraghav]

So an employee of axis is bugging my dad to get axis Burgundy savings. My dad asked her to make one in my name. We own a business, and need a lot of cash to run it, I can arrange 5 lakhs for a day but maintaining 10 lakhs in my bank account everyday is not possible, because i can use that money to fund day to day operation of my business. Now she is asking that because we live in sub urban area, i can get that burgundy savings by depositing just 5 lakhs and keeping that in for a couple of days ONCE IN A YEAR. I am suspecting a deliberate need to just fulfill some goals on her part. Now my questions are should I take this offer? If i open an account and it gets downgraded what are charges i will face.

 

[manikanta5858]

So an employee of axis is bugging my dad to get axis Burgundy savings. My dad asked her to make one in my name. We own a business, and need a lot of cash to run it, I can arrange 5 lakhs for a day but maintaining 10 lakhs in my bank account everyday is not possible, because i can use that money to fund day to day operation of my business. Now she is asking that because we live in sub urban area, i can get that burgundy savings by depositing just 5 lakhs and keeping that in for a couple of days ONCE IN A YEAR. I am suspecting a deliberate need to just fulfill some goals on her part. Now my questions are should I take this offer? If i open an account and it gets downgraded what are charges i will face.

 

[manikanta5858]

5 lakhs is for account opening for burgundy. Later you need to fund again 5lakhs to get full brugundy account. 10 lakhs is the criteria to get burgundy status.Now a days axis is taking fast downgrades . If you are with 5 lakhs then axis will immediately downgrade your account to next variant below. So dont go if your not able to maintain 10 lakhs