With Indian middle class nearly doubling to 61% by 2046-47 as per PRICE Report, rising incomes and the expansion of middle-class and high-income segments will reshape future consumption
YES BANK, known for its innovative banking solutions, announces the launch of YES Grandeur, an exclusive banking programme designed to address the unique financial and lifestyle needs of India's fast-growing Emerging Affluent segment. With an expected growth rate of 2.3 times over the next decade, as per BCG CCI Proprietary Income Model, this demographic is set to redefine the landscape of consumer banking in India, marked by its increasing disposable income and sophisticated consumer habits. With Indian middle class nearly doubling to 61% by 2046-47 as per PRICE Report, rising incomes and the expansion of middle-class and high-income segments will reshape future consumption.
YES Grandeur is aimed at catering to the evolving market dynamics where the affluent are increasingly seeking personalised services that complement their lifestyle. With an eligibility threshold of Average Monthly Balance (AMB) of ₹5 Lakh or a Net Relationship Value (NRV) of ₹20 Lakh, with additional consideration given to loan relationships, YES Grandeur is positioned to enhance the banking experience for this discerning customer base.
The highlights of YES Grandeur are :
· Banking Benefits: Customers will enjoy premium service offerings including dedicated relationship managers, preferential rates on banking services, exemption across a host of charges, significant discounts on locker facilities, and a special 3-in-1 account that offers Demat Account & Trading Account with Savings Account.
· Travel Benefits: Zero cross currency markup charges on YES Grandeur Debit Card combines convenience with savings on international spends for the travel enthusiast. Other exclusive benefits that come with YES Grandeur Debit Card are complimentary access to airport lounges, among others.
· Lifestyle Privileges: The programme extends a world of indulgent milestone-led lifestyle benefits across Taj, ITC Hotels, Disney+ Hotstar, SonyLIV, Amazon, among others. YES Grandeur also offers 5x YES Rewardz on weekend spends along with exclusive offers across movies, dining, shopping, bill payments, and much more.
These meticulously crafted benefits reflect the programme’s name, Grandeur, aiming not just to meet but exceed the expectations of its members, offering a banking experience that is rewarding and comprehensive at the same time.
Commenting on the launch, Mr. Rajan Pental, Executive Director at YES BANK, said, “YES Grandeur underscores our unwavering commitment to delivering exceptional banking experiences and exclusive privileges to our discerning clients. 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. At YES BANK, we are dedicated to surpassing expectations and redefining the landscape of banking in India.”
Furthermore, YES BANK offers dynamic digital solutions to elevate the banking experience of customers. The next-gen mobile banking app - iris by YES BANK, offers over 100 features and services for seamless banking. YES Pay Next serves as a comprehensive payments app for UPI, bill payments, recharges, gift cards, and more. Customers are also encouraged to enjoy convenient and secure banking across AI enabled personal banking chat assistance and Net Banking facility.
