Yes Bank has introduced a new premium banking service, ‘Yes Grandeur’, aimed at the elite and rising affluent class to stimulate business growth. This new offering is designed to address the distinctive financial and lifestyle needs of this segment, which the bank believes is set for substantial transformation due to increased disposable income and evolving consumer habits.
‘Yes Grandeur recognises the significant transformation in this segment, marked by increased disposable income and evolving consumer habits,’ Yes Bank stated in its release.
To qualify for Yes Grandeur, customers must maintain an average monthly balance of ₹5 lakh or a Net Relationship Value (NRV) of ₹20 lakh, with additional consideration given to loan relationships.
The program provides a suite of exclusive benefits, including dedicated relationship managers, preferential rates, fee exemptions, substantial discounts on locker facilities, and a unique 3-in-1 account that integrates a Demat Account, Trading Account, and Savings Account. Customers will also benefit from zero cross-currency markup charges on international debit card spends, complimentary airport lounge access, and lifestyle privileges with brands such as Taj, ITC Hotels, Disney+ Hotstar, SonyLIV, and Amazon.
Moreover, Yes Grandeur offers five times the usual reward points on weekend expenditures and promotions 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,’ stated Rajan Pental, Executive Director at Yes Bank.
India’s affluent segment is projected to expand 2.3 times over the next decade, according to the BCG CCI Proprietary Income Model, signaling a major shift in consumer banking dynamics. Additionally, a report by PRICE highlights that India’s middle class is expected to nearly double, making up 61% of the total population by 2046-2047.
