The evolution of the banking sector has set new expectations for the customers. Today, accountholders are exposed to various services that guarantee a smooth banking experience. Internet and Mobile Banking have made this possible. They enable you to perform essential tasks on the go. You need not face the trouble of long queues to get through the formalities. Everything happens within clicks at your fingertips.
Now, a Regular Savings Account gives you the needed convenience. But if you are looking for more, you need a Preferred Account. It gives you personal care and attention for all your financial needs. The facilities extend beyond banking to help you attain your financial objectives. Personalised attention lets you enjoy Premium Banking services to manage your funds better. Here are other benefits:
Market insights
Investment forms an integral part of financial planning. Banks offering premium services understand this. Hence, they provide market insights and highlights of the Indian economy and international markets. Analysing the same enables you to make informed investment decisions. Besides, you get access to property management services, tax & trust planning, legal services, etc. They let you manage your finances better.
Exclusive privileges
As you engage in banking regularly, you encounter various situations where getting special offers helps. This is where a Preferred Account comes in handy. It lets you travel in style with complimentary airport lounge access, pick-up/drop off services, meet and greet services, and global travel support. You also get an educational concierge and medical assistance. Another aspect caters to your entertainment needs with exclusive discounts.
Preferential services
Despite the ease of banking today, some high-value transactions require your time. You must look into them carefully and track them to prevent suspicious activity. At such times, assistance seems appealing. This no longer is a desire thanks to Priority Banking services you get under the account. A relationship manager is just a call away from managing essential tasks. This facilitates banking without much intervention.
Simple eligibility terms
The requirements for opening a Preferred Account are mainly similar to any Bank Account. You go through identical KYC formalities and documentation processes. The only difference is maintaining a Total Relationship Value. It amounts to Rs. 5 lakh, which you must build up to Rs. 30 lakh over six months after account opening. The bank calculates this by aggregating various financial products.
They include Insurance, period Term Deposits, Investments, Mortgage Loan outstanding, etc. In the case of a House Loan or Loan Against Property, 40% net balance is considered towards TRV. Meeting this requirement makes you eligible to enjoy the privileged services.
Banking convenience
The central aspect of having this account type is its ease of maintenance. You need not go through any hassle to perform tasks as you have a relationship manager. Moreover, you get expert advice on financial planning and investments.
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