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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 10 members of a family can form a Family ID.
What is the Threshold Relationship Value (TRV) required to be maintained by the Family?
- TRV to be maintained collectively.
- The TRV required to be maintained by the family is as follows:
| Privilege Programme Threshold Relationship Value* I/We understand that Bank may review my/our banking relationship with ICICI Bank periodically and reserve the right to withdraw partial/full benefits of the programme. | ||||
| Liability | Savings Account monthly balance: CCY 1 lakh | Current Account monthly balance: CCY 3 lakh | TRV: 5 L(SA+CA+TD) | |
| Investment | Demat - CCY 10 lakh | Monthly Forex throughput - CCY 20k | ||
| Assets | HL 50L/CV 25L/EL 10L | Secured asset: CCY 10 lakh | Unsecured asset: CCY 5 lakh | CC Limit: CCY 4 lakh |
| Wealth Threshold Relationship Value* | ||
| Segment Criteria (All values in INR) | Wealth Management (WM) | Wealth Select (WS) |
| Customer Relationship Value* (CRV) | 25 lakh | 3 crore |
| Annual Income (per annum) | 50 lakh | 1 crore |
| Net Salary Credit (per month) | 3 lakh | 6 lakh |
| HL Sanction | 2 crore | 5 crore |
| AL Sanction | 25-50 lakh | 50 lakh |
| Private Banking Threshold Relationship Value* | |||
| Liability | Salary more than CCY 5 crore | Savings Account - 1 crore and above | Current Account - CCY 5 crore and above |
| Investment | Demat - CCY 25 crore and above | Mutual Funds - CCY 10 crore and above | Life Insurance - CCY 5 crore and above |
| Assets | Home Loan/LAP - CCY 10 crore | Auto Loan - CCY 1 crore | |
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 has been opened.
What are the benefits of Family Banking?
The key benefits of Family Banking include the following:
- Flexibility to maintain the Total Relationship Value across Family Accounts:The threshold across any/all accounts linked under the Family ID i.e. TRV can be maintained at a family level and is not necessary to be maintained at an individual Account level.
- Privilege benefits to all the 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.
Can two Savings Accounts be linked under a Family ID?
Yes, two Savings Account holders can form a Savings Account Family ID.
Which of my family members can be grouped under the same Family ID?
Family members including parents, spouse, children, grandparents, grandchildren, in-laws and siblings of the Primary ID holder can be linked under the same Family ID.
What are the eligibility criteria for the Privilege Programme Family, Wealth Management Family and Global Private Client Family?
At least one of the members of the family should be either an existing Privilege Programme member, Wealth Management or a Global Private Client at the time of creation of the family.
Can any member(s) of the Family ID leave the group at a later date?
Yes, any member(s) of the Family ID can leave the group at a later date by submitting the Family Banking Modification Form. However, if a member who holds the Primary Customer ID wishes to leave the group, consent from all the remaining members of the family is required on the Family Banking Modification Form. The Family ID will then be dissolved. The member who is leaving the group has to select a product of his/her choice post exiting from the Family ID and has to submit an application for product change along with the request for de-linking of name from the Family ID.
Can a new member be added to the Family ID at a later date?
Yes, a new member can be added to the Family ID at a later date. The Family Banking Form should be duly signed by the Primary member of the family along with the new member.
Which accounts are eligible to be grouped under the Family ID?
Savings Account holders, with the exception of the Basic Savings Account, OTP & No Frills Account holders are eligible to form the Family ID.
What are the variants under which Family Banking is available?
Family Banking is available in the following 4 variants:
- Wealth Management Family
- Global Private Client Family
- Privilege Programme Family
- Salary Family
What is the minimum balance requirement for the Wealth Management Family and Global Private Client Family?
There is no minimum Monthly Average Balance requirement for the Wealth Management Family 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 lakh then the Deposits and Investments Value (DIV) required to be maintained by the Wealth Management Family is also Rs 25 lakh.
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 Modification Form and upgrade the family over-the-counter to the desired status. No fresh funds are required for this but the FTRV as per the upgrade variant required, needs to be maintained. To upgrade the status of the Family Banking Account to Privilege Programme, Wealth Management Family and Private Banking Family, at least one of the members under the Family ID is required to be a Privilege Programme Family member,Wealth Management Client and a Private Banking Account holder.
How can I join the Family Banking relationship?
You will need to fill up the Family Banking Application Form and provide the relevant details. The family is required to define the head of the family and this will be recognised as the Primary Customer ID by ICICI Bank.
Which Account holder can I nominate as the Primary Customer ID?
Any member of the Family ID can be eligible to become the Primary Customer ID, except for Young Star, Bank@Campus, NRI, MINE Account holders.
From which Account under the Family ID will the charges be collected in the event of non-maintenance of Threshold Relationship Value (TRV)?
The charges for non-maintenance of TRV are collected from the Primary Customer ID's Account. If this account has insufficient balance, then the charges are recovered from any other account/s under the Family ID.
Can members of a Family ID close the Family ID?
Yes, members of a Family ID can use the Family Banking Form to close the Family ID relationship with ICICI Bank. Consent from all the members of the family is required on the Family Banking Form.
What is ICICI Bank Family Banking?
Savings Family Banking
- Enjoy moments of togetherness: A single 'Family' Bank to cater to all the banking needs of your family
- Superior Account benefits and privileges for all the family members
- All family members will enjoy the same benefits
- Complimentary customised Family Debit Card
- No MAB (Monthly Average Balance) requirement in the Account
- Threshold Relationship Value (TRV) can be maintained collectively at a family level
- Programme TRV can be maintained across various products (Asset, Liability, Investment).
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Which banking relationships with ICICI Bank can be linked under the Family Banking relationship?
Members of a family can group their deposit relationships with ICICI Bank under a single Family ID, which includes theSavings Account, Fixed Deposit Account and Recurring Deposit Account.
Are charges for non-maintenance of TRV applicable for Salary Account holders who are grouped under a Family ID?
Yes, charges for non-maintenance of TRV are applicable for Salary Account holders who are grouped under a Family ID.
