Almost every salaried individual owns a Savings Account. It is safe, dependable, and easy to operate. It also offers steady interest that helps the holder generate significant income. But nowadays, the financial needs of people have changed drastically. They expect more perks from banking products, especially their Savings Accounts.
Considering this emerging need, banks have introduced a Premium Savings Account. It is an advanced version of your regular Savings Account. At its core, it has the same functions and features. The only difference is that it offers a host of additional perks and benefits to its holder. Following are the reasons why this account is beneficial:
- Privileges
When you do Premium Banking, you get access to numerous lifestyle privileges. A few common ones are:
- Travel: This includes airport pick-up/drop-off services, airport meet-greets, exclusive airport lounge access, global travel assistance, etc.
- Medical: These involve 24x7 global medical assistance in case of medical emergencies. This facility is available to the holder and their immediate family.
- Education: Overseas education concierge to help you fund your child’s higher education.
- Sports & Entertainment: Exclusive access to sports and entertainment events, with attractive discounts.
- Property & legal services: Beyond banking services like property management, tax planning, trust management, legal services, etc.
2. Competitive interest rates
A regular Savings Account offers favourable interest rates. However, some wish to benefit more. Thus, a Premium Savings Account has relatively higher interest rates to push your deposit growth considerably. Besides, the Premium Savings Account fees & charges are also low. This way, you do not have to spend a fortune to avail of the benefits.
- Promotional offers
The account holders get exclusive access to special promotional offers from time to time. They also get appealing discounts on select brands. As a result, they get the best markdowns when shopping.
- Free ATM withdrawals
When you withdraw money from your Savings Account, you are charged a specific fee from the bank. Although not a significant amount, it eventually starts draining your cash with time. But with a Premium Savings Account, you do not face this issue. In most cases, it does not charge you for ATM withdrawals. Plus, the withdrawal limit is also relatively higher. This way, you need not worry about complying with the standard limit.
- Higher insurance coverage
The holders also get higher Insurance coverages under this account. Compared to a regular Savings Account, it also offers other perks in the insurance category. However, these benefits strictly depend on your banking partner and their policies.
No comments:
Post a Comment