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      Family Banking FAQs

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      What are the minimum and maximum number of members who can form a Family ID?

      A minimum of 2 and a maximum of 6 members of a family can form a Family ID.

      Which accounts are eligible to be grouped under the Family ID?

      Only Savings Account holders, with the exception of the No Frills, HUF and NRI Account holders are eligible to form the Family ID. Account holders who have only Fixed Deposit or Recurring Deposit Accounts are not eligible to form a Family ID under Silver Family, Gold Privilege Family, Titanium Privilege Family, Wealth Management Family or GPC Family.
      Only Savings Account, Advantage Woman Savings Account, Senior Citizen Savings Account and Youngstars Savings Account are eligible to form the Family ID, under Savings Family.

      What are the variants under which Family Banking is available?

      Family Banking is available in the following 6 variants:

      • Savings Family
      • Silver Family
      • Gold Privilege Family
      • Titanium Privilege Family
      • Wealth Management Family
      • Global Private Clients Family

      What is the minimum balance requirement for the Wealth and Global Private Client Family?

      There is no minimum Monthly Average Balance requirement for the Wealth and Global Private Client Family. The Deposits and Investments Value (DIV) / Total Relationship Value (TRV) requirement is as per the definition at the individual level along with the applicable terms and conditions. For example, if the Deposits and Investments Value (DIV) required to be maintained for a Wealth Management Account holder is Rs. 25 lac, then the Deposits and Investments Value (DIV) required to be maintained by the Wealth Management Family is also Rs. 25 lac.

      Similarly, for GPC Families, the Total Relationship Value (TRV) is Rs. 2 crore at the family level.

      Can I upgrade the Family ID to a higher variant at a later stage?

      Yes, the member who holds the Primary Customer ID in the family can sign the Family Banking Application Form and upgrade the family over-the-counter to the desired status. No fresh funds are required for this but the FMAB as per the upgrade variant required needs to be maintained. To upgrade the Family Banking account to the Wealth Management and Private Banking Family status, at least one of the members under the Family ID is required to be a Wealth Management Client and a Private Banking Account holder.

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