India's Top Premium Banking Programs for HNIs

Sanskar Raj Sinha | Mon 4th Sep, 2023


India is experiencing a remarkable surge in the population of High Net Worth Individuals (HNIs) and Ultra High Net Worth Individuals (UHNWIs). The HNI population in India is set to surge by 75% by 2025. India is home to a substantial count of over 130,000 HNIs and UHNWIs and is expected to grow massively in the coming years.

This affluent segment of customers contributes to around 60% of the country's GDP, making them a critical bank client base. Their substantial investment capacity translates to increased revenue for banks through fees and returns. They also possess a sophisticated understanding of the financial landscape, which contribute to enhanced profitability. Moreover, the influence and network of HNIs extend beyond their financial prowess, as they are inclined to refer their associates and acquaintances to the bank, facilitating new business opportunities.

All these factors have resulted in banks increasingly competing for the attention of HNIs. The needs of this segment often necessitate tailored and personalized financial services, adapting to their expectations and ensuring their satisfaction becomes imperative for success.

This competition has led to the development of a number of specialized financial products and services designed to meet the needs of these premium customers. The inherent appeal of this segment has created an imperative for banks to attract and keep HNIs customers.

This is posing to be a challenge. These customers are often very discerning and have a wide range of banking options available to them. Banks need to offer a compelling value proposition that includes exclusive benefits, personalized service, and a high level of convenience.

Premium banking programs that typically include features such as exclusive access to bankers, personalized service, and enhanced rewards are becoming increasingly popular in Asia and India, as the region's wealthy population continues to grow.

Core Offerings of Premium Banking Programs

As we delved into the diverse premium banking programs offered in India a pattern emerged across most in terms of services rendered -

  1. Dedicated Relationship Management: Premium banking programs staff dedicated relationship managers who help HNI customers' with their specific needs.
  2. Wealth Management & Investment Privileges: Curated financial products and services for wealth growth, risk management, and asset allocation. From customized portfolios to specialized solutions, they cater to the financial objectives of these premium clients.
  3. Premium Banking Benefits: A host of banking benefits tailored to premium clients which range from Priority banking services, and preferential pricing, to family & business banking.
  4. Lifestyle Benefits: Some of these programs go beyond financial services, offering exclusive lifestyle benefits such as luxury travel, concierge services, personalized privileges, and access to exclusive events.

Top Premium Banking Programs for HNIs in India

As is evident above, most bank offer personalized attention, complete financial solutions, and customized lifestyle benefits. But how and who they deliver to, varies. Let’s take a closer look at the premium banking offerings of the top banks in India.

1. HDFC Bank's Imperia

HDFC Bank is one of the top banks in India that offers exclusive banking programs for Premium & Affluent customers. The bank has consistently featured among the top banks in the country over the past couple of years. It was awarded Best Private Bank in India at the Global Banking Awards 2021.[1.1]

HDFC Bank offers a suite of premium banking offerings which includes relationship management wealth management and investment privileges, preferential pricing on loans, complimentary family lockers, and much more.

In addition, they provide a range of lifestyle benefits to enhance customer experiences, including airport lounge access giving customers a wide range of facilities at their disposal.

Key benefits offered by HDFC Bank’s Imperia:

Core Offering Details
Relationship Management 1. Dedicated Relationship Manager
2. 24/7 Banking Helpline
Wealth Management & Investment Privileges 1. RMs trained in wealth management
2. Wealth & Investment advice & access to financial instruments
Premium Banking Benefits 1. Up to 50% off on loan processing fees
2. Free Family Locker
3. Lifetime free Demat A/C
4. Fees waiver on Debit & Credit Cards
5. Higher withdrawal limits of 1 lakh a day
6. Insurance Privileges
  6a. Death Cover up to Rs 12 Lakh
  6b. Additional Air Coverage up to Rs. 3Crs
  6c. Lost baggage protection up to Rs. 2 Lakh
  6d. Zero Liability on POS Fraud Transactions
7. Family Banking - for up to 3 members
8. Easyshop Imperia Platinum Chip Debit Card [1.2]
  8.1 Daily Domestic Shopping limits: Rs. 5 lacs & ATM Withdrawal of Rs. 1 Lakh
  8.2 1 Cashback Point on every Rs.100 spent
  8.3 Full Waiver on Fuel Surcharge, on swipe machines
  8.4 Insurance Privileges
    8.4.a Death Cover by Air / Road / Rail up to Rs. 12 Lakh
    8.4.b. Air Accident Coverage up to Rs. 3 crs
    8.4.c. Fire & Burglary for the items purchased under Debit Card (upto 6 months) - Sum assured Rs. 200,000
    8.4.d. Loss of checked baggage - Sum assured Rs. 2,00,000
    8.4.e. Zero Liability on POS transactions
Lifestyle Benefits 1. Domestic Airport Lounge Access through Easy Chip Debit Card - 2 per quarter
2. Premium Credit Card [Based on eligibility]
3. Access to the quarterly Imperia e-magazine which provides the latest trends in fashion, travel, and the world of finance.

Eligibility criteria for HDFC Imperia (At least one):

  1. Minimum Average Monthly Balance of Rs. 10 Lakhs in a Savings account
  2. Minimum Average Quarterly Balance of Rs. 15 Lakhs in a Current Account
  3. Minimum Average Monthly Balance of Rs. 30 Lakhs in a combination of Savings Accounts and Fixed Deposits
  4. For Salaried Customers, Monthly net salary credit of Rs. 3 lakhs & above in the HDFC Bank Corp Salary Account

2. SBI Wealth Saving Account

SBI Bank is a leading Public Sector Bank in India with a legacy of trust spanning over 200 years. It is one of the largest banks in India with 1/4th market share and serves over 48 crore customers. [2.1]

SBI Wealth customers get access to preferential locker pricing, fee waivers on cards, higher cash withdrawal limits, insurance privileges, and family banking services.

The banking benefits are followed by a wide range of lifestyle benefits which includes airport lounge access with priority access, an enterprise-wide loyalty program, and perks like Free Movie Tickets, Concierge services through credit & debit cards.

The SBI Card Elite [2.2] offers customers access to a complimentary membership to Club Vistara, Trident Privilege Memberships, Complimentary Movie Tickets, and much more making the bank stand out among peers.

Key benefits offered by SBI Wealth Savings Account:

Core Offering Details
Relationship Management 1. Dedicated Relationship Manager
2. Door Step Banking
Wealth Management & Investment Privileges Integrated Wealth Management Solutions
Premium Banking Benefits 1. Preferential pricing on lockers
2. Fees waiver on Debit & Credit Cards
3. Higher Cash Withdrawal
4. Insurance Privileges
5. Family Banking
Lifestyle Benefits 1. Airport Lounge Access
2. Access to Enterprise Wide Loyalty Program
3. Access to Enterprise Wide Loyalty Program
4. SBI Wealth Debit Card
  4a. Free add-on Debit Card for Spouse/Joint Account Holder
  4b. Card lost liability up to Rs. 4 Lakhs
5. SBI Card - Elite [2.3]
  5a. Complimentary Movie Tickets worth Rs. 6000 every year
  5b.2 Reward Points per Rs. 100 spent
  5c. Club Vistara Silver Membership
  5d. Trident Privilege Red Tier Membership
  5e. Lowest Forex Markup of 1.99% on Foreign Transactions
  5f. Concierge Services

The eligibility criteria for SBI Wealth vary for New & Existing customers. They need to meet at least one of the following based on the category -

Existing to Bank (ETB) Client New to Bank (NTB) Client
Total Relationship Value (TRV) of INR 30 lakhs (Total Deposits, Investments in Mutual Fund and Demat Holdings through SBI) Initial Deposit/Investment of INR 10 lakhs (To be increased to a Total Relationship Value of INR 30 lakhs within a period of 12 months)
Net Salary Credit of INR 2.00 lakhs and above at SBI Account Open a Salary Account with Net Salary Credit of INR 2 lakhs and above
SBI Home Loan of INR 1.00 Cr and above Newly availed SBI Home Loan of INR 1 Cr and above

3. Axis Bank’s Burgundy Savings Account

Axis Bank is on of the top private sector banks in India, known for its extensive range of banking and financial services. The bank has a strong presence and a wide network of branches across the country. They were also awarded with the Global Private Banking Innovation Award in 2022 at “Digital Banker” for marketing campaigns. [3.1]

The program offers a plethora of benefits that unlocks true value for the bank’s customers. They provide dedicated relationship management & a dedicated team for wealth management-related needs. Customers enjoy preferential loan pricing, discounts on lockers, lifetime free Demat A/C, and fee waivers on debit and credit cards.

With unlimited ATM withdrawals, higher limits for withdrawals and purchases, and family banking for up to three members, Axis Burgundy's service offers exceptional financial convenience and flexibility.

This is followed by a list of tailored lifestyle privileges. Customers enjoy access to the airport lounge, complimentary movie tickets/event passes, fine dining, accelerated reward points, and complimentary golf lessons making it a well-balanced experience for the customers.

Key benefits offered by Axis Bank’s Burgundy:

Core Offering Details
Relationship Management 1. Dedicated Relationship Manager
2. 24/7 Phone Banking Helpline
Wealth Management & Investment Privileges A dedicated team of experts for portfolio creation & financial advice
Premium Banking Benefits 1. Preferential Pricing on Loans
2. Preferential pricing on lockers & Demat accounts
3. Lifetime free Demat A/C
4. Fees waiver on Debit & Credit Cards
5. Insurance Privileges
  5a. Air Accident Insurance of Rs.1 Crore
  5b. Personal Accident Insurance of 15 lakhs
  5c. Baggage lost insurance up to 500 USD
6. Unlimited ATM withdrawal
7. Family Banking for additional 3 members
8. Higher Withdrawal limits of 3 lakhs and purchase limit of Rs. 6 lakhs
Lifestyle Benefits 1. 12 Airport Lounge Access (3 Per Quarter)
2. 96 Complimentary movie & events tickets
3. Fine Dining with Eazy Diner
4. Accelerated Edge Reward Points
5. Complimentary Golf Lessons
6. Debit & Credit Card variants are unavailable

Individuals need to meet one of the following criteria for Axis Bank’s Burgundy offerings:

  1. Average Quarterly Balance of ₹10 lakhs in the Savings Account
  2. Average Quarterly Balance of ₹10 lakhs across Savings Accounts and Current Accounts
  3. Minimum Total Relationship Value(TRV) of ₹30 lakhs
  4. Minimum Total Relationship Value(TRV) of ₹1 crore includes Demat holdings
  5. For a salaried customer, a net salary credit in excess of ₹3 lakhs every month in Axis Bank Salary Account

4. Kotak Mahindra Bank’s Privy League Platinum

Kotak Mahindra Bank is a renowned banking institution known for its exceptional services and customer-centric approach. It is the third-largest bank by market capitalization in the country and is counted among the top private-sector banks. The bank received multiple awards for being the Best Private Bank in India over the last few years. [4.1]

Kotak’s premium banking program gives access to lucrative banking benefits including a 3in1 Demat account, Insurance privileges, complimentary credit cards & debit cards including a dedicated Forex card, deals on annual locker rental, and much more. In terms of customer service a 24/7 Customer Helpline is provided to the customer however there is no mention of a dedicated relationship manager.

Kotak’s customers gain access to a world of curated lifestyle benefits, including exclusive events, premium experiences, and bespoke privileges across travel, dining, shopping, and entertainment. The bank also provides membership of Eazydiner Prime & few discounts on Swiggy which provides good deals on dining.

Key benefits of Kotak Mahindra’s Privy League Platinum:

Core Offering Details
Relationship Management Dedicated 24/7 Helpline
Wealth Management & Investment Privileges Dedicated Team of Experts
Premium Banking Benefits 1. 3-in-1 Integrated Account for banking, DEMAT & trading
2. Higher Transaction Limits
3. Unlimited ATM Withdrawal
4. Insurance Cover (bundled with cards)
  4a. Complimentary Insurance Cover of 25 lakh on Personal Accident & 1 Cr. on Air Accident Travel on Debit Card
  4b.Card Lost Liability up to 4.75 lakh
5. Complimentary premium debit & credit cards
6. Up to 60% off on annual locker rental
7. Fuel Surcharge - 2.5% Waiver, 30k Fuel Purchase Per Month
8. Complimentary Forex Card [4.2]
  8a. Enhanced Security
  8b. Multi-Currency Transactions
  8c. Air Accidents cover up to 15 lakhs
  8d. Lost Baggage Protection
Lifestyle Benefits 1. EazyDiner Annual Prime Membership
2. Discounts on Swiggy
3. Privy League Platinum Debit Card [4.3]
  3a. Free Domestic Airport Lounger per quarter.
  3b. Visa Concierge Service
4. Kotak White Credit Card [4.4]
  4a. Welcome benefits of Rs. 1500 on spends of Rs.30,000
  4b. White pass value up to Rs. 27,000 per year on annual spend on 12 lakh
  4c. Airport Lounge Access with Global VIP
  4d. Pass & access to both domestic & international airport lounges

Criteria for Kotak Mahindra’s Privy League Platinum offerings:

  1. Savings account Average Monthly Balance of over Rs. 10 Lakhs in Savings Accounts
  2. Relationship Value (RV) of Rs. 30 Lakhs
  3. For both Current and Savings accounts: Average Monthly Balance of over Rs. 15 Lakhs in Current Account
  4. Relationship Value (RV) of Rs. 30 Lakhs

5. Bank of Baroda’s Radiance

Bank of Baroda is a reputed bank in India, ranked 4th among PSU banks. The bank received the Global Private Bank Innovation Awards in 2022. The bank has a huge branch network of 10k branches and a team of 85,000 employees working across the country.

Bank of Baroda’s Radiance gives customers access to a unique set of banking and lifestyle benefits. For banking benefits, customers get access to dedicated relationship management with a 24/7 helpline and personalized financial planning guided by dedicated investment counselors. Clients enjoy priority lockers, unlimited cash withdrawals, preferential pricing on lockers, and fee waivers on SMS alerts, deposits, and checkbooks.

Customers also get access to a solid suite of lifestyle benefits including zero issuance charges on Gift and Travel Cards, access to exclusive merchant offers via Mastercard Domestic Offers, and a dedicated concierge service. Clients also receive travel and roadside assistance, golf privileges.

BoB also offers a complimentary World Sapphire Debit Card with two separate variants of the card catering to the needs of both male & female customers separately which makes the offering one of it’s kind. The card provides discounts on premium brands, Visa Luxury Hotel Collections, and domestic airport pick-up and drop service with lounge access, adding luxury and convenience to their lifestyle.

Key benefits offered by Bank of Baroda’s Radiance:

Core Offering Details
Relationship Management 1. Dedicated Relationship Manager
2. Customer Service Manager for varied needs
3. 24/7 Dedicated Helpline Number
Wealth Management & Investment Privileges Dedicated Investment Counsellors for customized financial planning
Premium Banking Benefits 1. Priority allotment of lockers
2. Unlimited Cash withdrawal
3. 50% on lockers
4. Unlimited Cheque books & money transfer
5. Fee waiver on SMS Alerts, Deposits, etc.
6. Complimentary Debit Card
Lifestyle Benefits 1. Zero issuance charges on Gift & Travel Cards
2. Access to top merchant offers with Mastercard Domestic Offers [5.1]
3. Concierge Service
4. Travel & Roadside Assistance
5. Golf Privileges
6. Complimentary BoB World Sapphire Debit Card (Two variants - male & female customers) [5.2]
  6a. Attractive discounts on premium brands
  6b. Benefits on Visa Luxury Hotel Collections
  6c. Domestic Airport Pickup & Drop service with Lounge Access

6. IDFC First Bank’s Wealth Savings Account

IDFC First Bank is a private sector bank that was formed after the merger of IDFC Bank & Capital First in the year 2015. The bank is standing out to the customers with its new-age approach & it’s complete focus on retail banking unit.

IDFC First’s Wealth Savings account comes loaded with doorstep banking, a dedicated relationship manager, and a 24/7 helpline. Clients benefit from Wealth Management & Investment Privileges, offering expert guidance and exclusive investment opportunities. The Premium Banking Benefits include a free locker, unlimited cash withdrawal, preferential loan rates, and complimentary cards with enhanced limits and insurance coverage for added security.

In terms of lifestyle benefits, customers get access to tailored Lifestyle Benefits including complimentary early breakfast and early check-in privileges at luxury hotels, along with access to Visa Concierge Service for personalized assistance. Clients enjoy discounts on airport transfer services and access to airport lounges, as well as Golf Club Access.

Key benefits offered by IDFC First Bank’s Wealth:

Core Offering Details
Relationship Management 1. Doorstep Banking Services
2. Dedicated Relationship Manager
3. 24/7 Dedicated Helpline
Wealth Management & Investment Privileges 1. Relationship Manager trained in wealth management
2. Investment privileges
Premium Banking Benefits 1. 1 Free Locker, 50% off on two additional lockers
2. Unlimited Cash withdrawal
3. Preferential rates on all loan requirements
4. Preferential pricing on Forex
4. Complimentary Debit Card & Credit Card
5. Enhanced Limits
6. Insurance Privileges
Lifestyle Benefits 1. Complimentary early breakfast, and early check-in like privileges on luxury hotels
2. Access to Visa Concierge Service
3. Discount on Airport Transfer Service
4. Airport Lounge Privileges
5. Golf Club Access
6 IDFC Visa Infinite Debit Card [6.1]
7 IDFC Premium Credit Card [Based on eligibility]

A customer is required to maintain a MAB of Rs.10 Lakhs to be eligible.

7. Federal Bank’s Celesta Savings Account

Federal Bank is a private sector bank with headquarters in Kerala. The bank has witnessed rapid growth in the last few years with more than 1300 branches spread across the country.

Federal Bank’s Celesta has been curated to attract premium customers with a strong pool of benefits, in terms of banking, the program gives access to premium banking with dedicated relationship management, wealth management, and investment privileges. Customers also get to enjoy Family Banking, Welcome Rewards, and Insurance benefits. The package includes Concierge Services, Enhanced Cash Withdrawal Limits, complimentary Debit & Credit Cards, and a free Lifetime Demat account.

In addition, the tailored lifestyle perks include access to Domestic and International Airport Lounges, complimentary Golf Access, and monthly buy-one-get-one-free movie tickets. Mastercard Domestic usage offers further enhances the lifestyle benefits, making Premium Banking Services.

Key benefits offered by Federal Bank’s Celesta:

Core Offering Details
Relationship Management 1. Two-tier Relationship Manager model
2. Doorstep Banking
3. Dedicated Helpline Number
4. Video Calling Facility
Wealth Management & Investment Privileges Dedicated Wealth Management experts for portfolio & wealth management
Premium Banking Benefits 1. Family Banking
2. 5000 Welcome Rewards points on spending Rs.1000 on Debit Card
3. Customized Insurance Benefits in tie-up with Tata AIG:
  3a. Air Accidental Coverage - Rs.1 Crore
  3b. Personal Accidental Coverage - Rs. 50 Lakhs
  3c. Card Protection - 5 Lakh
  3d. Global Hospital Cash - 5000/day
4. Concierge Services
5. Enhanced Cash Withdrawal Limits
6. Complimentary Debit & Credit Card
7. 50% off up to Rs. 2000 on bank lockers
8. Free Lifetime Free Demat Account
Lifestyle Benefits 1. Airport Lounge Access
2. Complementary Golf Access
3. Buy one get one ticket once per month on movies
4. Access to Mastercard Domestic usage offers [7.1]

Eligibility options for Federal Celesta:

  1. Average Monthly Balance of 10 Lakhs in savings account:
  2. Cumulative Average Monthly Balance of 10 Lakhs across all savings accounts
  3. Average Monthly Balance of 5 Lakhs across all savings accounts + 25 Lakhs Fixed Deposit
  4. Total Relationship value of 1 Crore
  5. For Resident Salary Customers: Salary credit of 2 Lakhs or more in salary account
  6. Family Monthly Average Balance of 10 Lakhs across all savings accounts in Family ID
  7. Family Monthly Average Balance of 5 Lakhs across all savings accounts in Family ID+ 25 Lakhs as Fixed Deposit
  8. Family Total Relationship Value of 1 Crore

8. Yes Bank’s First Savings Account

Yes Bank is a full service commercial bank providing services across a wide variety of products and services to Retail, Commercial & Business customers.

Yes Bank’s First offers dedicated relationship management, wealth management services, and premium banking benefits. Customers have a dedicated relationship manager, wealth management advice, and various investment options. They enjoy discounted locker rentals, a complimentary YES Securities Account, unlimited cash withdrawals, and free debit and credit cards. Additional perks include Cross Currency Market at 1.99% and a fuel surcharge waiver for added convenience.

This is followed by lifestyle benefits like YesAssist Concierge Service, accelerated rewards points, and complimentary airport lounge access. The Yes Dining Fiesta program offers attractive dining discounts.

Opting for the Yes First Credit Card provides international airport lounge access, a low 2.99% interest rate on revolving credit, Yes Rewarz, and a complimentary golf program.

Key benefits offered by Yes Bank’s First:

Core Offering Details
Relationship Management 1. Doorstep Banking Facility
2. Dedicated Relationship Manager
Wealth Management & Investment Privileges 1. Relationship Manager trained in Wealth Management
2. Wealth Management Services provides access to a suite of investment options
Premium Banking Benefits 1. Free first-year rental on lockers followed by 60% off from the year after
2. Complimentary YES Securities Account
3. Unlimited Cash Withdrawal
4. Complimentary Debit Card & Credit Card
5 Cross Currency Markput @ 1.99%
6 Fuel Surcharge Waiver
7 Insurance Privileges
  7.1 Purchase Protection up to Rs. 25,000
  7.2 Personal Accidence Insurance up to 25 lakh
  7.3 Air Accident Death Coverage of Rs. 1 Crore
Lifestyle Benefits 1. YesAssist Concierge Service
2. Accelerated Rewards Points
3. Eclectic Debit Card [8.1]
  3a. Exclusive Golf Privileges
  3b. Complimentary Airport Lounge Access, thrice per quarter
  3c. Yes Dining Fiesta - Up to 25%
4. Yes First Credit Card [8.2]
  4a. Complimentary International Airport Lounge Access
  4b. Attractive Interest Rate of Only 2.99% on Revolving Credit
  4c. Yes Rewardz
   4d. International & Domestic Airport Lounge Access
  4e. Complimentary Golf Program

Eligibility Criteria for Yes Bank’s First Savings Account

  1. INR 8 Lakhs or a minimum Net Relationship Value of INR 30 Lakhs at a family level
  2. Minimum net salary credit of INR 3 Lakhs per month in salary account

9. DBS Bank’s Treasures

DBS is a multinational bank based out of Singapore. The bank has won several awards for its services in Private Banking including the award for being the Best Asian Private Bank in 2023 [9.1]

With DBS Treasures Premium Banking, customers gain access to a world of exclusive privileges, innovative wealth management tools, and various tools that can help customers with their wealth management needs. Customers also get assistance with property management and legal services which stand out as a benefit.

Customers have a series of leading lifestyle benefits like Concierge Service, and deals on dining, shopping & hotels across Asia. Customers also benefit from services like Airport Pick up and drop & Lounge access.

Key benefits offered by DBS Bank’s Treasures:

Core Offering Details
Relationship Management Dedicated Relationship Manager
Wealth Management & Investment Privileges 1. Dedicated Wealth Management Team
2. Access to a wide range of Portfolio Opportunities
Premium Banking Benefits 1. Access to the entire Asia network if you meet the eligibility in any country
2 Remote Account Opening
3. Preferential Pricing
4. Unlimited ATM Withdrawals
5. Overdraft facility up to USD 5000
6. Property Management, Legal Services, Tax Saving & Trust Planning Services
Lifestyle Benefits 1. Concierge Service
2. Exclusive discounts on Dining, Shopping & Hotels across Asia
3. Complimentary Airport Pickup & Drop
4. Airport Lounge Access
5. Complimentary Golf Access

To be eligible for an account with DBS Bank a customer is required to open an initial account opening value of INR 5 lakhs & increase the investment to 30 lakhs in TRV within 6 months of opening the account.

10. Indusind Bank’s Pioneer

Indusind Bank is often counted among the top 5 private sector banks in India. The Bank has combined responsiveness with innovation to launch a wide range of banking products and services which are unique, convenient and very relevant to the Indian consumer.

Customer enjoy a host of banking services which include benefits on core banking services like Unlimited Demand Drafts, cash withdrawals, Cheques. The Small & Medium variant of the lockers. However, there is no mention of a dedicated Wealth Manager or investment team.

The bank is also providing lifetime free Credit & Debit cards along with a complimentary Forex Card for all of customers’ international payement needs. Offers like No late payement fees on credit card bill payement add great convenience to customers.

In terms of lifestyle benefits, Indusind provides a wide range of offers across Health, Dining, Lifestyle, Travel & Fine Dining. Some of the top offers include deals a complimentary choice between either EazyDiner Annual Membership or Zomato Gold for Fine Dining, a Taj Cullinary Membership. There are a long list of discounts on top brands like VLCC, ZoomCar, Rapido, Titan etc giving users incentive to spend with partner merchants.

Key benefits offered by Indusind Bank’s Pioneer:

Core Offering Details
Relationship Management 1. Doorstep Banking Facilities
2. Dedicated Relationship Manager
Wealth Management & Investment Privileges Online Wealth Management Portal
Premium Banking Benefits 1. Unlimited Demand Drafts for own bank
2. Unlimited cash withdrawal
3. Lifetime free Premium Debit & Credit Cards
4. Unlimited Cheque Books
5. Free Small & Medium Lockers, 75% off Large & 50% off on Jumbo Locker
6. Complimentary Forex Card [10.1]
  6a. Zero Currency Conversion Charges
  6b. Pay Only 5% to Book Rate Online
  6c. Loaded with 14 Currencies
7. Pioneer Infinite Debit Card [10.2]
  7.1 Higher Spend Limits with limit of up to Rs. 5 Lac and a daily spend limit of up to Rs. 10 Lac
  7.2 Zero ATM Charges in India and Abroad
  7.3 Enhanced Security
8 Pioneer Heritage Metal Credit Card [10.3]
  8a. No Late Payment Fee, No Over Limit Fee
  8b. Low Foreign Currency Mark-up of 1.8%
Lifestyle Benefits 1. 20% off on ordering groceries with Bigbasket on min transaction of Rs. 2000 per month with Debit Card
2. Up to 20% instant discount on Swiggy with Debit Card
3. Deals on Health & Wellness with 20% off on VLCC on min Rs. 500 & Upto 27% off on new customers & 22% off for existing customers on Tata 1MG [10.4]
5. Deals on top F&B chains like Ovenstory, Behrouz Biryani, Faasos etc. [10.5]
6. Choice between Zomato Gold or EazyDiner subscription offering up to 50% off on Fine Dining
7. Deals on top brands like Titan, Noise, Sugar Comsetics etc. [10.6]
8. Deals on travel with 12% cashback on EMI transactions with Indigo every Sat and Sun
9. Deals on other brands like ZoomCar, Rapido & GoMechanic [10.7]
10. Complimentary Golf Access & Lesson - 2 Sessions & 1 Lesson per quarter
11 24/7 Coincerage Service
12. Complimentary ITC Club Culinaire Membership

Eligibility requirement of Indusind Bank’s Pioneer:

  1. An Average Quarterly Balance of Rs. 10,00,000 in Savings Account or Current Account (group based)
  2. A Net Relationship Value of Rs. 30,00,000 (group based) along with an Average Quarterly Balance of Rs. 1,00,000 (group based) in Savings or Current Account.


In the competitive industry, it is crucial for banks to find distinctive ways to set themselves apart. Especially with the more discerning and quick-to-switch newer class of HNI. To engage and retain this cohort, banks need to relook at the current interpretation of benefits and align them with the changing needs of the customer. They need to evaluate the utilization of the current benefits and measure the satisfaction levels of the customers they’re intended for.

Banks need to design their Premium Banking Services to:

  • Create an elite membership circle for them to belong.
  • Define relatable, appealing values and benefits.
  • Invest in new technologies to provide seamless digital accessibility.
  • Dynamically curate innovative, personalized offerings.
  • Consolidate and ease the access on-demand

While delivering all the above, banks need to manage costs effectively. These programs can be expensive to run, as they often require a dedicated team of bankers and service providers. They also have to comply with evolving regulations and guidelines.

These factors will not only differentiate offerings but also build lasting and sustainable relationships with customers. The commitment to providing exceptional service and anticipating customer expectations is key to success in the dynamic banking landscape.


  1. The information presented in this blog has been sourced directly from the websites of the respective banks. Please direct any concerns or discrepancies regarding the information presented in this blog to
  2. The order in which the banks are presented does not reflect any ranking or preference. The content is meant to offer valuable insights and should not be considered as financial advice or a comparison.


















[6] [6.1]

















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