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Axis Magnus

Premium

Axis Bank

Where it ranks · across all 71 cards

#26 Online shopping1.8%direct#26 Groceries1.8%direct#22 Dining out1.8%direct

Devaluation history

  • 2026-04-01 - Accor, Marriott, Qatar Avios removed as transfer partners. ₹199+GST fee per transfer.
  • 2024-09-01 - Fee ₹10K→₹12.5K, waiver ₹15L→₹25L, monthly milestone removed, transfer ratio 5:4→5:2.
  • 2026-08-28 - 28 Aug 2026: DCC 1.5%→2%, late-fee slab, tolls + gift-card exclusions, Priority Pass invalid for domestic lounges. Since 1 Jul 2026 an LTF variant exists for Burgundy Salary accounts (₹2L+/month salary).

What a point is worth

Earning 12 pts / ₹200, the same point pays very differently by redemption path:

Redemption pathPer pointEffective on spends
Partner transfersbest: Club ITC at 5:2 (ceiling 2.6%)₹0.36-₹0.442.16%
Bank travel portal₹0.21.20%
Vouchers / catalogue₹0.21.20%

EDGE catalogue ~₹0.20/pt. Rankings across KaunsaCard use a single conservative value (₹0.3/pt = 1.80%); transfer ceilings assume premium-cabin awards and are never used to rank.

Reward rules

Points valued at ₹0.3/pt - conservative, what rankings use · transfers reach up to ₹0.44/pt via Club ITC at 5:2

Base rate - everything not covered below

12 pts / ₹200= 6 pts per ₹100

1.8-2.6%

value range by redemption

Spend-tiered: 12 ERP/₹200 up to ₹1.5L/month, then 35 ERP/₹200 above

35 pts / ₹200= 17.5 pts per ₹100

1.8-7.7%

value range by redemption

The defining Magnus mechanic: cross ₹1.5L in a calendar month and marginal spend nearly triples its earn. Excluded categories (fuel, utilities, telecom, govt, insurance, gold, wallet) never count. Beyond credit limit + ₹1.5L/month the rate REVERTS to 12/200 (not zero). EDGE transfer at 5:2 is capped 5,00,000 ERP/calendar year.

Source: Magnus T&C revision 20 Jun 2025 (axis.bank.in PDF) · 2026-08-22

Base rate, but capped - these categories earn normally up to a monthly ceiling

  • Rent EARNS base rate up to ₹50,000 spend/monthrent earns on up to ₹50,000 spend/month (3,000 ERP), nothing beyondsrc ↗

Via portals & vouchers - alternate methods (display, never rank)

  • ✈ Travel Edge portal 5X9.0%
    via traveledge5X on Travel Edge spends up to ₹2,00,000/month (60,000 ERP total incl base; was wrongly 8,000 bonus pts)src ↗

    5X on portal spends up to ₹2L/month.

Transfer partners

Axis EDGE (Reserve & Magnus: 5:2) - what 10,000 points become. Full matrix with live amounts on the Transfers page.

PartnerRatio10,000 pts →≈ value
Club ITC5:24,000₹3,600-₹4,400
Singapore Airlines KrisFlyer5:24,000₹3,200-₹10,000
Air Canada Aeroplan5:24,000₹3,200-₹8,800
Postcard Hotels Sunshine ClubAdded 2026; group unverified - assumed Group B cap.5:24,000₹3,200-₹4,400
Japan Airlines Mileage Bank5:24,000₹2,800-₹8,000
Turkish Airlines Miles&Smiles5:24,000₹2,800-₹8,800
Air France-KLM Flying Blue5:24,000₹2,800-₹8,000
United MileagePlus5:24,000₹2,400-₹7,200

Caps per customer/calendar year: 1L to Group A, 4L to Group B (5L total).

Earns nothing on

  • ⊘ Insurance excluded from EDGE earn and fee waiver. Since 20 Jun 2025 Axis identifies exclusions by spend category, not MCC; codes here are from the last bank-published MCC tables.63006381596060516012bank MCC list→ use Axis Burgundy Private here (4.5%)
  • ⊘ Fuel excluded.554155425983bank MCC list→ use MakeMyTrip ICICI here (1.0%)
  • ⊘ Gold and jewellery excluded.50945944bank MCC list→ use HDFC Infinia Metal here (3.3%)
  • ⊘ Utility & telecom excluded (current category list, no codes published).
  • ⊘ Utility & telecom excluded (current category list).
  • ⊘ Wallet loads excluded.6540bank MCC list→ use SC Ultimate here (3.3%)
  • ⊘ Government spends excluded (current category list).
  • ⊘ EMI conversions: earned points are debited (EDGE master T&C).
  • ⊘ W.e.f. 28 Aug 2026: no rewards on bridge fees, road fees and tolls (portfolio-wide revision). Gift-card purchases also reclassified to an excluded Gift Card category.

Plays with this card