SBI launches SBI Wealth: Features, benefits, eligibility; All you need to know

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Updated: July 25, 2019 11:40:09 AM

The SBI Wealth eligibility will depend on whether one is ' Existing to Bank (ETB) Client' or 'New to Bank (NTB) Client.

SBI, SBI Wealth, State Bank of India, account holder, Savings Account, Salary AccountFor the digital convenience of those who are mostly on-the-move, a first of its kind ‘e-Wealth Centre’ with extended Banking hours will be available.

The country’s largest bank, the State Bank of India (SBI), has launched premium banking services for the select few individuals. SBI has introduced SBI Wealth with a host of benefits for the account holders. For example, for a personalized banking experience, a dedicated and experienced relationship manager will be assigned for all the banking needs. There will be customer relationship executives available for pickup and delivery of documents as a part of the doorstep banking. As an SBI Wealth account holder, the bank will offer Signature Debit and Credit Cards offering life style benefits and accelerated reward points to the account holders. Then there will be extensive range of rewarding products and services including an all-new enhanced Savings Account and SBI Wealth Visa Signature Debit Card (no charges), Lifestyle Privileges, Loan Approvals on priority, Visa Signature Cards with additional Privileges, and lucrative investment options in the SBI Wealth relationship including SBI fixed deposits.

The bank will provide investment products across various asset classes delivered through an Open Investment Platform. One may even invest in Direct Equity and Fixed Income Services through their partners. For protection needs, one can purchase Life insurance and General Insurance products.

And importantly, the bank will facilitate Online Will Services through Platform offered by SBI Cap Trustee.

SBI Wealth eligibility

The SBI Wealth eligibility will depend on whether one is ‘ Existing to Bank (ETB) Client’ or ‘New to Bank (NTB) Client’.

Existing to Bank (ETB) Client

  • Total Relationship Value (TRV) of Rs 30 lakh (Total Deposits, Investments in Mutual Fund and Demat Holdings through SBI)
  • Net Salary Credit of Rs 2 lakh and above at SBI Account
  • SBI Home Loan of Rs 1 Cr & above

New to Bank (NTB) Client

  • Initial Deposit/Investment of Rs 10 lakh (To be increased to a Total Relationship Value of Rs 30 lakhs within a period of 12 months)
  • Opening a Salary Account with SBI with Net Salary Credit of Rs 2 lakhs and above
  • Newly availed SBI Home Loan of Rs 1 Cr & above

For the digital convenience of those who are mostly on-the-move, a first of its kind ‘e-Wealth Centre’ with extended Banking hours which enables Banking & Investment transactions via Voice and Video Call with your Relationship Manager will be available. Such individuals will also be equipped with a new-age avenue of managing their finances on-the-go through future-ready Internet Portal and Mobile App which enable Transactions, Portfolio Review and Tracking at one’s fingertips

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