5 Features of Premium Savings Account That Makes It Unique

Everyone wishes to deposit their money and assets safely where there is no fear of robbery, theft, or burglary. Considering it is your hard-earned money and meant for living a lavish lifestyle, nobody wants to put it at stake. For this purpose, you open a Bank Account for depositing your assets and putting your wealth to good use. Emergencies can happen anytime. Hence, it is better to prepare for them financially.

If you are a high net-worth individual and want to use it appropriately, then banks provide a Premium Account that comes along with additional benefits. You also get an Infinite Debit Card with it, free online services like SMS and phone banking facilities, and exemptions from processing fees on Loans. However, there are some Premium Savings Account fees & charges applicable on Debit Cards, fund transfers like Outward Remittance, and Local Currency Cheque returns.

Features

Initial deposit

You can start the account opening process with a Total Relationship Value of Rs. 5 lakh to access the Premium Banking products. Make sure to build this TRV to Rs. 30 lakh within six months from when you opened the account.

Minimum balance

Every bank requires the account holder to maintain a minimum balance to keep the account functional and active. The amount could differ between people or locations. The HNI people need to maintain at least Rs. 1 lakh in such accounts.

Chequebook

Every account holder can apply for a new chequebook every year. Based on your location, you get about 200 cheque leaves per annum.

Debit Cards

Premium Savings Accounts come with Infinite Debit Cards which come with higher spending and withdrawal limits. You can use them at contactless terminals and shop within the limit of Rs. 3 lakh per day in India. Infinite Cards also lets you access premium brands and outlets across Asia.

Online Banking

Premium Savings Accounts are manageable anytime, anywhere with numerous features available online and on the Mobile Banking app. You receive super-secure login, an immediate remittance facility, smooth navigation, and get instant payments done.

Opening of the account

The best part about Premium Savings Account is you have a dedicated relationship manager who handles your banking and Wealth Management services. Relationship managers are your trusted wealth partners and work with a team of specialists to provide the essential wealth solutions to meet your financial objectives. If you are concerned about the associated costs, for instance, DBS fees & charges, you can contact customer service or speak to the specialist.