TermԆand conditions for grouping of current accounts - PDF document

TermԆand conditions for grouping of current accounts These additional Terms and Conditions apply to and regulate the operation of the Grouping of accounts product offered by ICICI Bank in addition to the Terms and ConditionԆof the standard “Current Account” as available on www.icicibank.com A Grouping ID can be formed with minimum number of accounts presently 3 which can be changed from time to time by the Bank. All such current accounts which Ԓall be having a common grouping id shall be referred to as the “Grouped Current Accountԝ. Group can be formed with Roaming Current Account and Elite Current Account. Current Accounts like RCA Variants – ✍andard, Claԅic, Premium, Gold, Gold PluԨ Platinum, Elite Current Account, e⨊ept the caԒ credit account and the overdraft current accountԆcan be a part of the Grouping ID. The Current Account can belong to either a ԋle proprietorԒip, partnership, company incorporated under the lawԆin India. In caԂ of fraud or Ԑԑect tranԇction in any of the accounts grouped under group id, Bank reserves the right to ☉iԅolve the Group ID - under intimation to all the Current account holders whose accounts conԍitute the Grouped Current Account. To the e⨍ent of any inconԌԍency, the Terms and Conditions Ԃt out herein Ԓall prevail for all intents and purpoԂs in relation to the “ Grouping of Accountԝ product. Group Ⰻnthly Average Balance The ⰜB requirement Ԓall be applicable to the Grouped Current Accounts and be common for the entire group of current accounts clubbed under the group id. ✐ch ⰜB Ԓall be referred to a “Group Ⰻnthly Average Balance “( GⰜB ). GⰜB requirement to be as follow԰ The total GⰜB balance of the group Ԓould be greater or equal to RԠ 10 lakhs preԂntly which can be changed from time to time by the Bank. The GⰜB of the group is calculated as a Ԍmple addition of individual ⰜB of individual group memberԆof the group. Group ⰜB is the Ԍmple Ԑmmation of all individual ⰜB and NⰬAB charges as per individual accounts would be applicable to individual accountԠ Applicable to each of the accounts under the Grouped Current Account not maintaining the GⰜB. In caԂ of non-maintenance the charges will be recovered from individual account. If the funds are found to be inԐfficient there, than charges will be recovered from the ԇme accounts by debiting to the customer's account through TOD module. Group Free Limits The free limit of the group is calculated as a simple addition of applicable free limitԆapplicable for every Ԃrvice. The free limits by the group will be e⨒auԍed on a FIFO baԌs for each applicable service and the ԇme will be available for each individual member for utiliԇtion till the aggregate free limit iԆe⨒auԍed. On E⨒auԍion of Group Free LimitԨ any tranԇction done by any of the group member will be charged as per the Ԋhedule of charges applicable to individual group account Ԋhedule. ICICI Bank reserves the right to make changes to the Terms and Conditions after giving due intimation to the cuԍomers