Axis Bank has introduced a new benefit for select Burgundy customers by waiving the joining and annual fees on two of its premium credit cards, the Magnus Credit Card and the Horizon Credit Card. As per the bank’s latest Key Fact Sheet, the revised fee structure is applicable to customers who open eligible Burgundy accounts on or after 1st July 2026.
Axis Bank Magnus Credit Card
Customers opening a Burgundy Salary Account on or after 1st July 2026 will receive:
- Joining Fee: Nil (Earlier: ₹12,500 + GST)
- Annual Fee: Nil (Earlier: ₹12,500 + GST)
The regular annual fee waiver condition of spending ₹25 lakh in the preceding card anniversary year continues to apply for other cardholders.
Axis Bank Horizon Credit Card
Customers opening a Burgundy Savings Account on or after 1st July 2026 will receive:
- Joining Fee: Nil (Earlier: ₹3,000 + GST)
- Annual Fee: Nil (Earlier: ₹3,000 + GST)
Existing fee waiver conditions remain unchanged for customers who do not qualify under the new Burgundy Savings Account offer.
Bottom Line
While the changes don’t affect the cards’ reward structures or benefits, removing the joining and annual fees significantly lowers the cost of holding premium cards like Magnus and Horizon for eligible Burgundy customers.
For those planning to open a Burgundy relationship, this could be an added incentive.