Axis Bank Magnus Credit Card on Insurance premiums
No. The Axis Bank Magnus Credit Card earns no rewards on Insurance premiums.
On Insurance premiums
0%
Other spends
1.2%
Rank for Insurance premiums
#104 of 149
Annual fee
₹12,500 + Taxes
What to know before you pay on Insurance premiums
How it works
1.2% is the rate on the first ₹1.5 Lakh a month at ₹0.20 per point. Above ₹1.5 Lakh it's 3.5% (about 7% if points go to airline miles).
Caps & rules
- 12 EDGE Reward Points per ₹200 on the first ₹1.5 Lakh a month, 35 per ₹200 on spends above that (up to your credit limit + ₹1.5 Lakh).
- 5X via Travel EDGE.
- Valued at ₹0.20 per point; transferring 5 points to 2 airline/hotel miles is worth roughly double.
Reward limits
- 35 EDGE points per ₹200 on monthly spends above ₹1.5 Lakh: Up to your credit limit + ₹1.5 Lakh of spend per calendar month
- 12 EDGE points per ₹200 on other spends: No limit
No rewards on
Utilities & telecom, rent (capped ₹50,000/month), wallet, government, insurance, gold/jewellery, fuel, gift cards, tolls
Checked 2026-09-27 · Bank terms
Cards that earn more on Insurance premiums
-
#1
PhonePe SBI Card SELECT BLACK
SBI Card · ₹1,499 + Taxes · Max ₹500 a month
10%
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#2
HDFC Infinia Credit Card Metal Edition
HDFC Bank · ₹12,500 + Taxes
3.33%
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#3
HDFC Diners Club Black
HDFC Bank · ₹10,000 + Taxes
3.33%
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Questions
Does the Axis Bank Magnus Credit Card give rewards on Insurance premiums?
No. The Axis Bank Magnus Credit Card earns no rewards on Insurance premiums.
Is there a limit on Axis Bank Magnus Credit Card rewards?
12 EDGE Reward Points per ₹200 on the first ₹1.5 Lakh a month, 35 per ₹200 on spends above that (up to your credit limit + ₹1.5 Lakh). 5X via Travel EDGE. Valued at ₹0.20 per point; transferring 5 points to 2 airline/hotel miles is worth roughly double.
Which credit card is best for Insurance premiums?
PhonePe SBI Card SELECT BLACK is the best pick for regular spending on Insurance premiums, with 10% back. The Axis Bank Magnus Credit Card ranks #104 of 149 cards we compared, by what each returns after caps.