There is other side to this argument.
I know quite a few HNIs but I don’t know anyone who keep their cash in savings accounts. They are usually savvy investors or have their wealth managers who deploy their money in higher yield asset classes (real estate, equity, gold etc) and avoid keeping them in low yielding savings account.
Lower income or salaried middle class on the other hand can be more attractive for banks because either they keep their money in savings accounts or do term deposits in the same banks thus providing a sticky source of capital.
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