ShashankBhaskar's blog

Banks are essential to everyone, but the high net-worth customers need to be especially careful about the banks with which they open accounts. With more capital on the stake and more money at the bank's disposal. The experience for HNI individuals is quite different.

Many HNI individuals choose to work with a private bank that focuses on wealth management – either a stand-alone company or a private banking division of a larger banking corporation.

Accounts for HNI Customers

During the olden days, banking was considered as time – consuming business. Even for withdrawals or deposits of cash, people had to visit the bank branch and wait in long queues to process their requests. They were given tokens and could go only when the cashier called out the token number. Banks were densely crowded with customers, and every service used to take lots of time.

Many unpredicted emergencies arise in day to day lives that significantly impact the financial situation of people. The wealthy face scarcity in their resources, whereas, the middle and lower class become almost bankrupt and take help from financial institutions like moneylenders and banks to pay for the expenses. People have their own opinion of loans and borrow them from whichever source readily available.

Gadgets surround every corner of the world. They have made it easier for humans to complete their tasks and submit them on time. The digital technology keeps evolving with every passing day. New inventions, discoveries and innovations rule the digital world to make human-made efforts less and increase the load on machines. Banking services have progressed and evolved drastically. Since all the sectors are available digitally, why should banking be left behind?

We all have that one NRI member in our family who lives abroad for better employment and earnings. Every NRI leaves their family and hometown to spend most of their time abroad, saving for the betterment of his family. To secure their hard-earned money is what every bank strives to achieve. And thankfully, the banking processes of today are much more convenient and secured.

If you are an aspiring Non-Resident Indian, looking to move to a foreign country in the near future, you need to ensure you manage your financials properly. You may need an account to manage your incomes in India and abroad but the rules that apply to resident Indians will not apply to you. As such, you need to open an NRI bank account. When you apply for NRI banking services, your bank provides internet banking services as well, which you must activate as soon as possible.

If there is one thing in nature that is truly healthy, refreshing and loaded with nutrients it is fruits. Fruits are delicious little treats that can curb your hunger pangs, keep you satiated and prevent you from unhealthy binging, while also nourishing your body and keeping various diseases at bay.

A fixed deposit is an investment vehicle that is offered by banks and non-banking financial companies, where an investor can deposit money for a high interest rate than a savings account. Investors can also deposit a lump sum of money in a fixed deposit for a specified period, ranging from 7 days to 10 years. Once the fund is invested with a reliable financier, it starts earning an interest based on the duration of the deposit.

What do you do with the balance money after paying all your bills? Do you seek to invest in market instruments such as mutual funds, the stock market, recurring funds, etc.? Ever considered the savings account option? It is the place where you can keep your hard-earned money safe and earn interests on the same. The rates are not very high, but they are better than nothing.