Premier Savings Account – Elevate Your Banking Experience: A Comprehensive Review

The Premier Savings Account by Jana Small Finance Bank is designed to redefine your financial journey. Tailored for high-net-worth individuals who wish to stay one step ahead, this premium product offers a host of exclusive benefits, personalized solutions, and a rewarding loyalty program. In this review, we delve into every aspect of the account—from premier privileges and account benefits to detailed charges, innovative RuPay Select debit card features, and the exciting rewards structure.

A Banking Solution That Keeps You One Step Ahead

The Premier Savings Account is more than a savings product; it is a complete banking solution built around exclusive privileges and customized financial services. Here’s what sets it apart:

• Exclusive Privileges & Benefits: Enjoy priority service at branches, a dedicated relationship manager, and premium cards designed with your affluent lifestyle in mind.

• Tailored Financial Solutions: Benefit from customized financial plans and exclusive discounts that adapt to your evolving objectives.

Premier Privileges

What You Can Expect

• Priority Service: Experience swift and efficient service at branches with priority treatment.

• Dedicated Relationship Manager: Gain access to a personal financial advisor who understands your financial goals.

• Premium Cards: Enjoy the benefits associated with the Premier RuPay Select Debit Card.

• Customized Financial Solutions: Receive tailored plans designed to suit your high-net-worth needs.

Premier Account Benefits

When you opt for the Premier Savings Account, you unlock additional exclusive advantages:

• 50% Concession on Banking Fees*

• Discount on Lockers & Loans

• Family Banking Facility

• Preferential Rates on Forex Transactions

*Subject to applicable terms and conditions.

Premier Savings Account Charges (Effective from 09 Jan 2025)

Transparency in charges is vital. Below is a detailed breakdown of the balance requirements and fees:

Balance Requirements & Charges

• Initial Deposit: ₹1,00,000

• AMB Requirement (Individual/Family): ₹1,00,000

• TRV Requirement (Individual/Family): ₹10,00,000

• AMB Non-Maintenance Charge: ₹600 or 6% of the shortfall (whichever is lower)

Cash Transactions

• Cash Withdrawal (Branch): Unlimited (subject to IT rules)

• Cash Deposit (Branch): Unlimited

Cheque Book Services

• Cheque Book: Unlimited free cheque leaves

Debit Card & ATM Usage

• Card Type: RuPay Select

• Debit Card Issuance Fee: NIL

• Annual Maintenance Fee (AMC): NIL

• ATM Withdrawal (Jana & Other Banks): Unlimited free; note that for transactions at non-Jana bank ATMs, additional fees may apply as per later details

• Declined Transaction Fee (Insufficient Funds): ₹25 per transaction

• Daily Limits:

  • ATM: ₹2,50,000

  • POS/E-Commerce: ₹5,00,000

Digital & Remittance Charges

• NEFT, RTGS, IMPS (Online & Branch): Free

• Standing Instruction (SI) Failure: ₹100

• NACH Debit Return: ₹200

Demand Draft/Pay Order Charges

• Up to ₹5,000: ₹25

• ₹5,001 to ₹10,000: ₹50

• Above ₹10,000: ₹2 per ₹1,000 (Minimum ₹50)

Premier Debit Card – Features & Benefits (RuPay Select)

The feature-rich RuPay Select Debit Card is designed to match your premium lifestyle by offering a range of exclusive benefits:

• Gym Access: 1 free 30-day gym membership per quarter

• Spa/Salon: 1 free spa or salon session per quarter

• Health Check-ups: 1 free premium health check-up package per quarter

• Golf Program: 1 free golf lesson or round per quarter

• Airport Lounge Access:

  • Domestic: 3 visits per quarter (access to over 50 lounges)

  • International: 3 visits per year (access to over 500 lounges)

• Accidental Insurance: ₹10 lakh Personal Accident & Disability Cover

• Exclusive Offers: Enjoy special merchant discounts and deals

• 24/7 Concierge Service: Assistance available in Hindi, English, and regional languages (Toll-free: 1800-26-78729)

Rewards Programs: Earning as You Spend

Premier Debit Card Spend Reward Points (RuPay Select)

Earn reward points on specific debit card activities to add extra value to your everyday transactions.

Key Notes:

• 1 Reward Point (RP) = ₹0.10

• A monthly cap applies to regular spends.

• Rewards are applicable only for eligible POS/ECOM transactions.

• The bank reserves the right to modify or withdraw these benefits.

• Points are valid for 18 months.

Premier Account Rewards – Activity-Based Rewards

Earn additional rewards for account-related activities beyond your everyday spending:

Additional Key Notes:

• 1 RP = ₹0.10

• Points are valid for 18 months

• Maximum three transactions per month apply for SI, bill payment, and SIP/ELSS rewards

• Rewards eligibility requires MB/IB registration via debit card

• The bank reserves the right to modify or withdraw benefits

Excluded Transactions (No Rewards Given):

• Standing Instructions between family members

• Bill payments via third-party BBPS (only Jana Bank’s BBPS is eligible)

• SIP/ELSS/MF investments via third-party (only via Jana Bank ARN is eligible)

• Partial payments for bill payments or mutual fund lumpsum investments

• Duplicate rewards for de-registering and re-registering MB/IB

• Fraudulent transactions or suspected abuse

Additional RuPay Select Card Charges

Aside from the core benefits, the card comes with a few additional charges:

• Cross-Currency Markup on Foreign Transactions: 4%

• ATM Cash Withdrawal (India): Unlimited free at Jana Bank ATMs, with 10 free withdrawals at other banks’ ATMs

• International ATM Withdrawal: ₹150 per financial transaction, ₹50 per non-financial transaction

• Decline Charges (Insufficient Funds): NIL

• Annual Maintenance Charge (AMC): ₹499 (Waived for high spenders)

Final Thoughts

The Premier Savings Account by Jana Small Finance Bank offers an unmatched banking experience tailored for those with high financial aspirations. With its exclusive privileges, a suite of premium benefits, a feature-rich RuPay Select debit card, and a robust rewards program, this account is a standout choice among premium banking solutions. Whether you desire the convenience of unlimited transactions, the assurance of waived fees, or personalized financial guidance from a dedicated relationship manager, this account ensures your banking experience is both seamless and rewarding.

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