Axis Magnus: Monthly Reward Slabs and Conditional LTF Offer
Key Takeaways
- Paid fee ₹12,500; waiver requires ₹25 lakh preceding-year spend.
- 35-point earn applies to incremental spend above ₹1.5 lakh monthly, with credit-limit ceiling.
- Salary-account LTF requires eligibility and is not universal.
Table of Contents
Issuer field review: 2 October 2026. This guide covers standard Magnus; Magnus for Burgundy is a separate product.
Fees and conditional lifetime-free eligibility
Paid Magnus charges ₹12,500 plus taxes. Renewal waiver needs ₹25 lakh of eligible spend in the preceding card anniversary year. Total billed spend is not automatically eligible waiver spend.
The Burgundy Salary offer applies to eligible customers onboarded from 1 July 2026. At least one net salary credit of ₹2 lakh is required before issuance, alongside bank approval. It waives joining and annual fees, excludes welcome benefits, and can revert to paid status if relationship eligibility ends. This is not universal lifetime-free issuance.
Monthly reward slabs
Eligible regular purchases earn 12 EDGE Reward points per ₹200 up to ₹1.5 lakh each calendar month. Incremental eligible spend earns 35 points per ₹200 until total eligible spend reaches assigned credit limit plus ₹1.5 lakh; subsequent spend earns 12 points again.
Example before transaction rounding: with ₹3 lakh regular eligible spend and a ₹1 lakh credit limit, ₹1.5 lakh earns 9,000 points, the next ₹1 lakh earns 17,500, and the remaining ₹50,000 earns 3,000: 29,500 points. These points are not cash savings.
Travel EDGE follows a separate earning schedule. Rental rewards have a separate ₹50,000 monthly eligible-spend cap. Wallets, gift cards, government, utilities, telecom, insurance, fuel, jewellery and toll/road/bridge charges are excluded under the published rules. Those lanes are excluded from our regular-purchase scenario.
Transfers and lounge access
Standard conversion is 5 reward points to 2 partner miles, with partner-group transfer limits. Available partners and redemption value must be checked in the live portal. Generic annual value and fee break-even remain withheld; a transfer ratio is not a cash return.
The issuer lists international Priority Pass access and four guest visits yearly. From 28 August 2026, Priority Pass cannot access domestic lounges in India; present the physical Magnus card and boarding pass for eligible domestic access. Eligible lounges at Indian international terminals after immigration remain international lounges. Check spend eligibility and the current location list before travelling.
What changed, and what remains open
The August notice sets DCC markup to 2% from 28 August 2026 and excludes gift-card and toll/road/bridge rewards. Membership renewal consent changes start 15 November 2026; that future rule is not yet effective on this review date.
Use the monthly earning scenario on the card page for eligible regular purchases. It does not model Travel EDGE, rent, transaction rounding, fees, milestones or personal transfer value. Annual recommendations remain held until those inputs and source limits are resolved.
Issuer evidence
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