HSBC Prive: Premium credit card exclusively curated for India's HNIs, UHNIs

With a growing population of UHNWI and HNWI in India, HSBC Prive aims to cater to this elite group's appetite for luxurious experiences, seamless travel, and exceptional lifestyle privileges

HSBC India has launched the HSBC Privé, a premium credit card designed exclusively for its high-net-worth and ultra-high-net-worth clients. With a focus on personalized services, the card offers luxury travel perks, access to elite private clubs, bespoke experiences like Antarctic travel via private jet, and exclusive shopping benefits.   This luxury offering comes shortly after Axis Bank introduced its ultra-premium Primus credit card, which boasts a hefty joining fee of Rs 5 lakh, making it the most expensive credit card in India, surpassing even the Amex Centurion.  The card, which is available on an invitation-only basis, was first introduced in Hong Kong and will now be launched in other global markets. Its arrival in India highlights the increasing demand for tailored services that go beyond banking, offering unique experiences and access to global opportunities.

 

 

The card, developed in partnership with Mastercard,aligns with growing trends in luxury spending among India's wealthy, particularly in travel and experiences, said HSBC.

 

This is HSBC's first premium credit card designed with privileges exclusively curated for its private banking clients. The Global Private Banking business in India serves high-net-worth individuals (HNWI) and ultra-high-net-worth individuals (UHNWI) who are professionals, entrepreneurs and their families with investable assets of more than $2 million.

  

Rich Indian entrepreneurs are spending their wealth on luxury residences, goods and experiences as they remain optimistic about their business prospects in the home market and believe their personal wealth will grow.

 

Credit card spending by the UHNWI and HNWI segment, represented by World and World Elite Mastercard cardholders in India, increased by 87% year on year in 2023. Particularly, overseas spending on experiences and travel categories grew by 69% and 56%, respectively, over the same period, indicating these to be categories of strong, growing interest among HNWI and UHNWI cardholders.

 

“For our Global Private Banking clients who lead dynamic lives with a spirit of ambition and entrepreneurship, we offer a distinctive wealth management approach and our clients choose us not only because of our deep understanding of their needs, but also our capabilities to provide them with bespoke services beyond private banking. We are excited to welcome our clients to HSBC Prive and the unparalleled experiences and opportunities that it has to offer in line with their aspirations and lifestyle needs," said Sandeep Batra, Head, Wealth and Personal Banking, HSBC India.

 

HSBC Privé is built upon deep client insights to cater to the needs of UHNWI and HNWI clients. Dedicated Contact Center agents are available to assist HSBC Privé cardholders to explore a suite of prestigious benefits 3  uniquely curated for them, including: 

Elevated travel — A companion first or business class airline ticket with leading airlines, access to premium airport lounges worldwide, travel Insurance, VISA at your doorstep and zero forex mark-up on all international spends.

 

Exclusive access — Worldwide access to bespoke private clubs, members- only lounges and workspaces at more than 150 locations across Asia, Australia, Europe and the United States, access to Michelin Star restaurants, access to bespoke experiences such as travel to Antarctic by Private Jet, get complimentary golf access in Asia Pacific, offers on wellness program and sessions with celebrity trainers.

 

Exceptional lifestyle — Premium hospitality groups benefits, accelerated upgrade to highest tier, exclusive shopping privileges and more. 

In September 2024, Axis Bank introduced Primus, the company’s ultra-premium credit card  aimed at ultra-high net-worth individuals.

 

The Axis Bank Primus credit card has a joining fee of Rs 5 lakh, which increases up to Rs 5.9 lakh when we include GST.

In addition to this, the card has an annual fee of Rs 3 lakh, which goes up to Rs 3.54 lakh after including GST.

This makes it the most expensive credit card in India, beating the Amex Centurion, which has a joining fee of Rs 8.26 lakh and an annual fee of Rs 2.95 lakh.