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Guiding rich customers on effective wealth management

EXCLUSIVE SERVICE: Mr Shailendra Bhandari (centre), MD & CEO, Centurion Bank of Punjab, with Mr Anil Jaggia (left), COO, and Mr Vivek Vig, Country Head-Retail Banking, at a press conference in Mumbai on Saturday. — Paul Noronha

Mumbai April 7 Centurion Bank of Punjab has launched a new service for high networth individuals. The service called `Centurion Elite' will offer wealth management, financial planning, free debit card with enhanced withdrawal limit of Rs one lakh per day and other privileged banking services.

HNIs wanting to avail themselves of the service should have a minimum deposit of Rs 10 lakh but they can start by opening a savings account for a minimum of Rs one lakh, said Mr Shailendra Bhandari, Managing Director and Chief Executive Officer of Centurion Bank of Punjab.

The service will provide access to investment and broking services, exclusive access to a product specialist and home banking and unlimited ATM transactions per month. "The bank is trying to reduce the entry barrier into priority banking and we are doing this to fill in the gap and complete the pyramid," said Mr Yateesh Srivastava, Marketing Director.

The elite customers can also get lifestyle services such as spas, fashion and movie previews and cosmetic workshops. The scheme has been rolled out in the cities of Bangalore, Jaipur, Delhi, Kolkata, Chennai and Chandigarh.

Mr Bhandari said Centurion Bank is among the three top two-wheeler financiers in the country.

One of the new generation private sector banks, it has 279 branches and 408 ATMs. The bank is waiting for the RBI approval for the merger of Lord Krishna Bank with itself.

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