Best Savings Account for High-Net-Worth Individuals

Posted on Monday, October 16th, 2023 | By IndusInd Bank

Savings accounts are an important aspect of personal finance. They provide a safe and convenient way to safeguard funds and earn interest.  

However, for high-net-worth individuals, traditional savings accounts might not suffice in maximising returns and customising financial strategies. This article features the best savings account for high-net-worth individuals, considering factors beyond just interest rates. 

Understanding the Needs of High-Net-Worth Individuals 

As a high-net-worth individual, you might have unique financial requirements that extend beyond the basic functions of a regular savings account. The primary goals may include preserving wealth, managing liquidity, and accessing financial products and services tailored to your complex needs. As a result, the ideal savings account for you should go beyond the conventional offerings. 

What key factors should you consider when choosing a savings account? 

Here are some of the points that you must keep in mind when you open an online savings account as a high-net-worth individual –  

1. Interest rates: While interest rates are essential, they are not the sole determinant for high-net-worth individuals. You must look for accounts with competitive rates but also consider the balance between interest earnings and other benefits. 

2. Liquidity: High net-worth individuals often require quick access to funds. Therefore, you should opt for accounts that offer easy and immediate withdrawal options without causing heavy penalties or restrictions. 

3. Personalised services: You must choose a bank or financial institution that offers personalised banking services, such as IndusInd Bank. You may require a dedicated Relationship Manager, customised financial solutions, and priority customer support. IndusInd Bank can be a reliable partner for all your specific needs as a high-net-worth individual.  

4. Wealth management solutions: Some online savings accounts come bundled with wealth management services, providing access to investment advice, portfolio diversification, and financial planning expertise. 

5. Additional perks: You must explore additional perks, such as exclusive travel benefits, airport lounge access, booking services, and discounts on financial products. 

Top savings account options for high-net-worth individuals 

If you are looking for a premium savings account that offers enhanced banking features and customised services, you should opt for the Indus Select Savings Account. This premier savings account from IndusInd Bank offers a tailored banking experience to suit your needs, enhanced transaction limits and free ATM withdrawals. You also receive attractive interest rates on your deposits, offers on top brands, and special banking privileges like a dedicated Relationship Manager, in addition to doorstep banking. Let us take a look in detail here:

• Dedicated Relationship Manager: With IndusInd Bank, you can receive personalised banking assistance and advice from a dedicated Relationship Manager. 
• Up to 50% off on lockers: Safeguard your valuables at half the cost during the 1st year with exclusive locker discounts. Year 2 onwards, you can avail of discounts of up to 35% for continued locker services.  
• Entertainment offers: Enjoy special ‘Buy 1 Get 1’ offers on movie tickets purchased via BookMyShow (three times in a quarter), ensuring quality family time at the movies. 
• Reward points: You can earn 6x reward points on your everyday spending via the Signature Select Debit Card, further enhancing your savings. 
• Complimentary airport lounge access: IndusInd Bank offers you free access to lounges at domestic airports with the associated Signature Select Debit Card. 
• Dining offers: You can enjoy discounts of up to 15% when dining at your favourite restaurants. 

Conclusion 

Selecting the best savings account for high-net-worth individuals involves careful consideration of multiple factors, including interest rates, personalised services, liquidity, and wealth management solutions.  

Apart from the premium banking facilities and offerings mentioned above, the Indus Select Savings Account also offers digital account opening via Video KYC, the flexibility to choose your account number via the MAMN (My Account My Number) facility, on-the-go banking via the IndusMobile app, and attractive interest rates on your account balance.  

With an IndusInd Bank Savings Account, you can manage your finances better. Enjoy the power of savings with the added benefits of modern banking technology. Additionally, opening a savings account with IndusInd Bank is an instant and 100% digital process.  

Apply for a savings account with IndusInd Bank today!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own 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 taking any financial decisions based on the contents and information.