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Family Banking is a product in ICICI Bank that allows individual members in a family to group all their respective accounts under one Family Savings Account or Family Id. These accounts can be Savings Account, Fixed Deposit, Recurring Deposit, etc. By doing this, you can enjoy the convenience of anytime, anywhere banking. With one Family Savings Account, you can do routine transactions such as bill payments, FD creation requests and balance enquiry through multiple channels such as Internet Banking, Mobile Banking or Customer Care.
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Help your entire family enjoy the advantages of our special services such as Privilege Banking, Wealth Management and Private Banking.
You can maintain the minimum required balance in any one or more of the accounts held by your family members
Minimum Balance
You need to maintain a lower minimum monthly average balance at the family level. Each family member doesn’t need to maintain minimum balance individually.
Flexibility
You can maintain the minimum required balance in any one or more of the accounts held by your family members.
Single Family Bank
Your entire family can address its diverse banking needs with an umbrella bank.
Choice Of Accounts
Your entire family is entitled to exclusive offers and benefits through an array of Family Accounts such as Savings, Silver, Gold Privilege, Titanium Privilege, Wealth Management and Private Banking.
Taxation
This account has no tax implications.
Offers Near You
Now on opening an account with us, enjoy a minimum 15% discount on your favourite brands and at outlets near you! Offers valid only on ICICI Bank Credit, Debit and Prepaid Cards.
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| Interest Rate | 3% - 3.5% p.a |
| Eligibility |
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To start the Family Banking relationship, you need to submit the Family Banking form.
To know more, please visit your nearest ICICI Bank branch or contact our 24-hour Customer Care.
Private Banking Family
This is an opportunity for all your family members to enjoy the ICICI Bank Wealth Management services. At least one of the members in your family should hold the Wealth Management account with ICICI Bank and this premium service will be extended to all the members in the family. To avail of this service, all you need to do is start a Family Banking relationship with ICICI Bank.
To know more about the benefits of ICICI Bank Private Banking services, please click here.
Wealth Management Family
This is an opportunity for all your family members to enjoy the ICICI Bank Wealth Management services. At least one of the members in your family should hold the Wealth Management account with ICICI Bank and this premium service will be extended to all the members in the family. To avail of this service, all you need to do is start a Family Banking relationship with ICICI Bank.
To know more about the benefits of ICICI Bank Wealth Management services, please click here.
Titanium Privilege Family
Link your family members under ICICI Bank Family Savings Account and extend the superior banking benefits of Titanium Privilege Account to all. Your entire family can now address its diverse banking needs with a single 'Family' bank. Bank together and help your family members avail host of exclusive family-centric features and offers.
To know more, please click here.
Magnum Privilege Family
Link your family members under ICICI Bank Family Savings Account and extend the banking benefits of Magnum Account to all. Bank together and help your family members avail a host of exclusive family-centric features and offers.
To know more, please click here.
Gold Privilege Family
Link your family members under ICICI Bank Family Savings Account and extend the superior banking benefits of Gold Privilege Account to all. Bank together and help your family members avail a host of exclusive family-centric features and offers.
To know more, please click here.
Silver Family
Your Silver Family Banking relationship entitles all the members under the Family ID to select privileges and offers:
- Waiver of multi-city cheque payment for up to Rs.1,00,000 per month.
- International Silver ATM-cum-Debit card
- Waiver of Demand Draft / Pay Order charges for up to Rs.50,000 per day.
To know more, please click here.
Savings Family
Let your family avail of benefits like free Muliticity Cheques, waiver on DD/ PO amounting to Rs. 50, 000/ day and discounts on the annual fee for deposit lockers.
To know more, please click here.
Family Banking FAQs
The minimum Monthly Average Balance requirement for a Family ID is defined at the family level instead of the individual Customer ID level and is called Family Monthly Average Balance (FMAB). The minimum FMAB required to be maintained by the family is as follows:
| Minimum balance requirement | Savings Family | Silver Family | Gold Privilege Family | Titanium Privilege Family |
|---|---|---|---|---|
| FMAB | Rs. 30,000 (Metro/Urban Family) Rs. 20,000 (Semi-urban/Rural Family) | Rs. 50,000 | Rs.1,00,000 | Rs.1,25,000 (reduced from Rs. 1.5 lac w.e.f. December 1, 2012) |
| Non-maintenance of FMAB charges | i. Rs. 500 per month if MAB falls below 10k ii. Rs. 350 per month if MAB is above 10k and below 20k iii. Rs. 175 per month if MAB is above 20k and below 30k (applicable only for Metro/Urban Family.) |
i. Rs. 500 per month if MAB falls below 20k ii. Rs. 350 per month if MAB is above 20k and below 50k. |
i. Rs. 500 per month if MAB falls below 20k ii. Rs. 350 per month if MAB is above 20k and below 50k iii. Rs. 175 per month if MAB is above 50k and below 1 lac. |
i. Rs. 500 per month if MAB falls below 20k ii. Rs. 350 per month if MAB is above 20k and below 50k iii. Rs. 175 per month if MAB is above 50k and below 1 lac iv. Rs. 100 per month if MAB is above 1 lac and below 1.25 lac. |
| Waiver of FMAB charges | Subject to FD of minimum Rs. 1.5 lac for Metro / Urban Family and Rs. 1 lac for Semi-urban / Rural Family, under the same Family ID. | Subject to FD of minimum Rs.2.5 lac under the same Family ID. | Subject to FD of minimum Rs.5 lac under the same Family ID. | Subject to FD of minimum Rs.6.25 lac (reduced from Rs. 7.5 lac w.e.f. December 1, 2012) under the same Family ID |
Categorisation of the Savings Family as Metro / Urban or Semi-Urban / Rural will be on the basis of the branch category where the primary customer ID of the Family ID is opened
The key benefits of Family Banking include the following:
- Pricing benefit: The minimum MAB required to be maintained at the Family ID level is much lower than the MAB required to be maintained at the individual Customer ID level to avail of the same product benefits. Illustration: The minimum required MAB for a Gold Privilege Account is Rs. 50,000 and the minimum required FMAB for a Gold Privilege Family is Rs. 1,00,000. If 4 members of a family group together to form a Gold Privilege Family, then the minimum balance required to be maintained per person is Rs. 25,000. This is much lower than the MAB of Rs. 50,000 required to be maintained at the individual level.
- Flexibility to maintain balances across accounts: Family Banking provides the flexibility to maintain the required minimum balance in any one or more of the accounts which are linked under the same Family ID.
- Privilege benefits to all members: Family Banking makes the superior product benefits of an upgraded status available to all members of the family linked under the Family ID while the required minimum balance can be maintained in any one of the accounts.
- All banking needs are catered to by a single 'Family' Bank.
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.
Yes, two Savings Account holders can form a Savings Account Family ID.
