Advantage Savings Account offers you and your family members the option to group accounts. This unique proposition gives you the advantage of maintaining individual accounts under one roof without the need of maintaining minimum balance for each account separately. You can open and group accounts for up to four family members.
What’s more, it also offers banking solutions to meet different needs of each family member.
Benefits of the Family Account Proposition
- Freedom from maintaining minimum Assets Under Management (AUM) or Average Quarterly Balance (AQB) in individual accounts. All accounts grouped together need to maintain the required minimum balance
- All family members grouped will have the privilege of becoming Advantage Banking customers at a much lower AUM and AQB requirement
- Children above the age of 12 years can transact online as well as get their own Debit Card
Grouping Option Family Advantage Savings Account
For a single account AUM of Rs. 5 lakh or AQB of Rs. 1.50 lakh in the savings account
For a group of 2 family accounts AUM of Rs. 10 lakh or AQB of Rs. 1.50 lakh in the savings account
For a group of 3 family accounts AUM of Rs. 15 lakh or AQB of Rs. 1.50 lakh in the savings account
For a group of 4 Family accounts AUM of Rs. 20 lakh or AQB of Rs. 3 lakh in the savings account