SBI Wealth Banking

[aashokk09]

recently came to know about this banking program. Has anyone using/used this SBI wealth banking program? anything good in this program ?
procedure to upgrade savings account to wealth saving program

Individual Clients - Wealth Management

sbi.co.in

 

[Financebhai]

How long should we have 50L TRV before asking them to upgrade to Wealth? I have no intention of keeping more than 5L there in the end.

U can put the amount in ur CIF linked accounts and ask them immediately for Wealth Upgrade. Keep promising that you will maintain that balance with SBI. If they agree, they will do that immediately.
But, if you are determined not to keeping more than 5L with them, then I suggest Don't onboard to Wealth as, they will downgrade your account as a normal SB account after some reminders. Only benefit you can get is their Premium Debit Cards. But, Don't know, if they charge AMC for that Card after downgrade. If they charge, then, no point of Onboarding to Wealth. Rather you can collect Other Bank Rupay Select Debit Cards, which are eligible for Rupay Select Benefits. Check from npci website.

 

[KGF]

U can put the amount in ur CIF linked accounts and ask them immediately for Wealth Upgrade. Keep promising that you will maintain that balance with SBI. If they agree, they will do that immediately.
But, if you are determined not to keeping more than 5L with them, then I suggest Don't onboard to Wealth as, they will downgrade your account as a normal SB account after some reminders. Only benefit you can get is their Premium Debit Cards. But, Don't know, if they charge AMC for that Card after downgrade. If they charge, then, no point of Onboarding to Wealth. Rather you can collect Other Bank Rupay Select Debit Cards, which are eligible for Rupay Select Benefits. Check from npci website.

Yeah, if the card is paid after a while, then it loses all the attraction since their Wealth a/c barely has any benefit.

 

[ashb009]

It's been a year and half since they started issuing rupay select for SBI wealth but it is only issued if asked specifically. By default they issue visa.

They retained me with upgrade but I won't be maintaining more than 2-3 lakhs. They also didn't tell me when and how downgrade occurs.

Rm only told" sir criteria toh aapko ptaa hi hai
Wo aap kr hi loge"

did you get RuPay Wealth DC? Ever got downgraded? Is it possible to retain Wealth with 2-3L balance? I have a TRV of 7-8L only but 15 years old account.

 

[hongle]

I talked to relatioship manager before opening wealth account about Debit Card - what if account is downgraded? Will I be charged? He denied and said whataver card you get now wont be charged later ever. But my sole reason for choosing them was for Portfolio Management Services (PMS) So it's a moot point. Asked for Rupay card, though. Let's see how it pans out.

 

[Bhagat Singh]

I talked to relatioship manager before opening wealth account about Debit Card - what if account is downgraded? Will I be charged? He denied and said whataver card you get now wont be charged later ever. But my sole reason for choosing them was for Portfolio Management Services (PMS) So it's a moot point. Asked for Rupay card, though. Let's see how it pans out.

Kya karoge PMS ka
Minimum investment amount in PMS is 50 lakhs
also there is exit load/withdrawal charges if you withdraw within 1 to 3 years.