IDBI Bank Application form for Grouping / Addition of Accounts

IDBI Bank Application form for Grouping / Addition of Accounts under Kutumb Family Banking

IDBI Bank Application form for Grouping / Addition of Accounts under Kutumb Family Banking Download

The key points from the IDBI Bank “Kutumb” Family Banking grouping application form are structured below for quick review:

Combined Balance Benefits: Allows multiple family accounts to be grouped under a single “Family ID” to jointly meet the Family Monthly Average Balance (FMAB) (p. 1).
Avoid Penal Charges: Grouping frees individual members from maintaining separate product-level minimum balances, provided the collective family threshold is met (p. 1). [1]

Group Size: Requires a minimum of 2 and a maximum of 5 family members (p. 2).
Primary Account Holder: Must not be a minor (p. 2). The Family ID is permanently mapped to the Primary Holder’s Customer ID (p. 1).
Ineligible Accounts: Financial Inclusion Accounts, Capital Gains Accounts, and Non-Individual Current Accounts cannot be grouped (p. 2).
Exclusivity: An account already linked to one Family ID cannot join another (p. 2).

MAB Calculation: The overall Family MAB requirement is the sum of individual MAB requirements of all accounts within the structure (p. 2).
Exclusions: Fixed Deposits (FD) and Floating Fixed Deposits (FFD) do not count toward the FMAB calculation (p. 2).
Recovery Sequence: Non-maintenance penalties are debited from the Primary Member’s account first (p. 2). If funds are insufficient, charges are pulled sequentially from the next grouped accounts (p. 2).
Deficit Intimation: In line with RBI guidelines, if the FMAB drops below the threshold, the Primary Holder receives a notice at the end of the monthly cycle and is given one month to restore the balance before penalties apply (p. 2).

Structural Adjustments: Adding or closing individual accounts in the “Kutumb” loop automatically revises the group’s total FMAB requirement (p. 2).
Primary Account Deletion: If the Primary Account Holder closes or cancels their account, the entire “Kutumb” family program is discontinued and the group ID is deleted (p. 2).

Signatures: The application must be physically signed by all holders across all accounts being grouped (p. 2).

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