Current Accounts for High-Net-Worth Individuals: Tailored Services and Benefits

Posted on Thursday, August 22nd, 2024 | By IndusInd Bank

You may have come across the term ‘High Net-Worth Individual’ or HNI, especially within the realm of financial services. HNIs hold a unique position and command a certain level of service in different areas of life, including banking. 

It is no surprise that, to meet the HNIs’ banking needs, current accounts offer specialised services and benefits. HNIs have special financial needs that go beyond regular banking services, offering unique benefits in their current accounts. Read on to learn more. 

Why Do Banks Have Specialised Services for High-Net-Worth Individuals?

First, let’s understand the definition of high net-worth individuals.

High Net-worth Individuals (HNIs) are defined as individuals with significant financial assets, apart from their primary residence. In India, an HNI label refers to someone with an investible surplus of over ₹5 crore. 

Now that the definition of high net-worth individuals is clear, let’s look at some reasons banks offer them specialised services:

1.      Complex Financial Needs

HNIs often have diverse investment portfolios. It includes equities, bonds, real estate, and private equity. Managing these assets requires specialised financial advice and services.

2.      Customised Banking Solutions

Banks offer flexibility, higher transaction limits, and personalised services to cater to HNIs’ unique financial goals.

3.      Better Relationship Management

It is important to build trust with HNIs and ensure satisfaction. Hence, banks provide dedicated relationship managers for HNIs, allowing them to enjoy customised financial advice, investment strategies, and wealth management services.

Unique Features and Benefits of a Current Account for HNIs

When you open a current account as a high net-worth individual in India,  you can enjoy a host of benefits, including:

1.      High Transaction Limits

Current accounts for HNIs come with higher transaction limits. This enables them to carry out seamless and large-scale financial operations without limitations.

2.      Dedicated Relationship Managers

High net-worth individuals are provided with dedicated relationship managers for personalised banking and financial advisory services. This ensures that their banking experience is smooth and efficient.

3.      Exclusive Benefits and Privileges

Current Accounts for HNIs ofteninclude exclusive benefits such as doorstep banking services, grouping of accounts, access to premium banking facilities, and more. 

4.      Comprehensive Wealth Management

Some banks also offer a suite of wealth management services to HNIs. This includes investment advisory, estate planning, tax optimisation, and more. 

5.      Priority Services

HNIs enjoy priority services in their banking transactions. This means faster processing time and exclusive customer service.

6.      Additional Perks

Besides the above, high net-worth individuals also enjoy lifestyle benefits. This includes concierge services, access to exclusive events, and travel privileges that add value beyond traditional banking services.

IndusInd Bank’s Current Account Offerings

IndusInd Bank offers a range of current accounts tailored to meet the needs of high-net-worth individuals in India. 

Indus Premier Current Account

Enjoy free demand draft issuance, dynamic cash deposit limits, auto-sweep deposits, account grouping, and more. 

Indus Select Current Account

Doorstep banking services, preferential trade charges, a free Visa Signature Select Debit card, and more, allowing HNIs to enjoy a seamless banking experience. 

Indus Freedom Current Account

This account provides flexibility and freedom with features like a higher cash deposit limit, free NEFT/RTGS/IMPS, and more.  

Also Read: What are the Transaction Limits on an Online Current Account?

Conclusion

Choosing the right banking partner is crucial for high-net-worth individuals to manage their assets and optimise their finances. With features like higher transaction limits, dedicated relationship managers, and comprehensive wealth management, current accounts can ensure a premium banking experience for such customers. 

IndusInd Bank’s range of Current Account offerings for HNIs exemplifies these benefits, making it a preferred choice for affluent clients in India.

Ready to elevate your banking experience? Open a Current Account with IndusInd Bank today!

Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.