Yes Bank has launched premium banking services under the label ‘Yes Grandeur’ targeting elite and rising affluent class to drive business growth.
“The bank recognises that this segment is poised for a significant transformation, marked by increased disposable income and evolving consumer habits,” the lender said in a release.
The exclusive banking program, tailored to meet distinctive financial and lifestyle needs, has an eligibility threshold of average monthly balance of ₹5 lakh or a Net Relationship Value (NRV) of ₹20 lakh, with additional consideration given to loan relationships.
It will offer benefits such as dedicated relationship managers, preferential rates, exemptions on charges, significant discounts on locker facilities, and a unique 3-in-1 account combining Demat Account & Trading Account with Savings Account.
Customers can also avail zero cross-currency markup charges on international debit card spends, complimentary airport lounge access, and lifestyle privileges across brands like Taj, ITC Hotels, Disney+ Hotstar, SonyLIV, Amazon, among others. The service will also provide five times the usual reward points on weekend spends and offer on movies, dining, shopping, bill payments, and more.
“With a relentless focus on industry-first features and a profound understanding of the evolving needs of elite and emerging affluent households, YES Grandeur sets a new benchmark in personalised banking,” said Rajan Pental, Executive Director at Yes Bank.
According to the BCG CCI Proprietary Income Model, India’s affluent segment is projected to expand 2.3 times over the next decade leading to a major shift in consumer banking dynamics. A report by PRICE highlights that India’s middle class is expected to nearly double, comprising 61 per cent of the total population by 2046-2047.