The country’s largest bank, the State Bank of India (SBI), has launched premium banking services for the select few individuals. SBI has introduced SBI Wealth with a host of benefits for the account holders. As an SBI Wealth account holder, the bank will offer Signature Debit and Credit Cards offering lifestyle benefits and accelerated reward points to the account holders.
Because of this new launch, there will be an extensive range of rewarding products and services including an all-new enhanced Savings Account and SBI Wealth Visa Signature Debit Card (no charges), Lifestyle Privileges, Loan Approvals on priority, Visa Signature Cards with additional Privileges, and lucrative investment options in the SBI Wealth relationship including SBI fixed deposits.
The bank will provide investment products across various asset classes delivered through an Open Investment Platform. One may even invest in Direct Equity and Fixed Income Services through their partners. For protection needs, one can purchase Life insurance and General Insurance products. Also, the bank will facilitate Online Will Services through Platform offered by SBI Cap Trustee.
SBI Wealth: Eligibility
The SBI Wealth eligibility will depend on whether one is ‘ Existing to Bank (ETB) Client’ or ‘New to Bank (NTB) Client’.
Existing to Bank (ETB) Client
- SBI Home Loan of Rs 1 Cr & above
- Total Relationship Value (TRV) of Rs 30 lakh (Total Deposits, Investments in Mutual Fund and Demat Holdings through SBI)
- Net Salary Credit of Rs 2 lakh and above at SBI Account
New to Bank (NTB) Client
- Newly availed SBI Home Loan of Rs 1 Cr & above
- Initial Deposit/Investment of Rs 10 lakh (To be increased to a Total Relationship Value of Rs 30 lakhs within a period of 12 months)
- Opening a Salary Account with SBI with Net Salary Credit of Rs 2 lakhs and above
SBI Wealth: Benefits
Wealth Savings/Current Account is a Premium Account offered only for Wealth Clients with add-on benefits:
- Free VISA Signature Debit Card
- 5X Loyalty Rewards
- Fee Waivers
- 25% Concession on Locker Rentals and many more.