State Bank of India earlier this year opened a wealth management services, SBI Exclusif in Bangalore, which is specialized in catering to the needs and maximize the wealth of customers.
This move will help and benefit SBI's HNI customers whose banking needs are more sophisticated and this will attract more customers. With this launch, SBI becomes the first PSU bank in the country to introduce Wealth Management services.
This services can be availed by customers with a wealth base of Rs 30 lakh, banks may also consider relaxing to Rs.10-15 lakh if the customer has the potential to increase wealth.
How will it help to manage wealth?
Exclusif customers will have a dedicated Relationship Manager who will take care of all their banking and investment needs. The Relationship Manager will be backed by a team of investment experts who will guide and provide suggestion on the investment.
Elite customers will have access to a range of products across categories from market leading institutions .
There is an option of "e-Wealth Center" where the relationship management services can be availed during extended hours.
Also, the customers can transact and invest on digital channels such as internet and mobile through their relationship manager.
Other benefits include Exclusif Visa Debit Card (no charges) , lifestyle privileges including an exclusive health card, loan approvals on priority, Visa Signature cards with additional privileges, lucrative investment options as well as expert legacy & taxation advisory services .
As of now, the services are available to customers with their home branch in Bengaluru City. Exclusif services will be made available for NRI customers shortly. Services for non-individual entities like trusts, corporates, and partnerships, etc. may be rolled out in future.