Money is necessary to fulfil all our expectations. Becoming wealthy and leading a secure future is the goal of every individual. You work dedicatedly to grow in your career and attract better opportunities. Saving money becomes easier when you know your goals and invest in the right financial products. Opening a Wealth Account gives you access to a range of exclusive market insights from experts.
It provides you access to plenty of bespoke and specialised wealth solutions that ensure you can meet your financial goals and life aspirations. Besides, you will be among the first to know about the latest global research and analyses. The following are some reasons why it is necessary:
Holistic approach
Wealth Management in India is more than investment advice because it encompasses all aspects of a client’s financial life. You benefit from a holistic approach that combines several services to meet your specific financial goals. No need to integrate financial advice from different sources.
Wealth maintenance
This account can help manage a client’s wealth and meet customised goals and objectives. Many companies offer tailored services while considering the current situation, future goals, current wealth, and more.
Wealth transfer
It is essential for high-net-worth individuals. A Wealth Management Account includes estate planning. A wealth manager can help clients protect their wealth and minimise fees and taxes. They ensure the distribution of your wealth according to your wishes and financial goals.
Financial goals
Changes in financial situations can alter objectives. A wealth manager considers this by regularly meeting with clients to update goals, investigate whether additional services are necessary, and review and rebalance your financial portfolio. The manager implements unique strategies to help you increase or safeguard your wealth.
Wealth solutions
As a Wealth Account holder, you can choose from an extensive suite of diverse products, including Mutual Funds, Fixed Deposits, Remittances, Insurance, and sophisticated products such as Private Equity, Real Estate Fund and Long-Short Fund.
Easy to track
You get a real-time summary and status of all your investments anytime you wish through Digital and Mobile Banking platforms. Get access to over 110 features on your smartphone when you are on the go. Safeguard your investments through super-secure login, super-swift remittances, and super-fast payments.
Eligibility
To open a Wealth Account, you require a Total Relationship Value of Rs. 5 lakh to access premium banking products. However, you must build the TRV to Rs. 30 lakh over six months from the account opening date.
The TRV is a minimum relationship value with the bank, encompasses all accounts in a family, and gets calculated by aggregating all Savings Accounts and end-of-period Term Deposits, Insurance, investments and Mortgage Loan outstanding. 40% of the Home Loan or Loan Against Property’s net balance is part of the TRV computation.
