ICICI Bank introduces family savings accounts

By SiliconIndia   |   Tuesday, September 29, 2009
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Mumbai: As part of its strategy to acquire low-cost deposits, ICICI Bank has unveiled family banking savings accounts in an attempt to attract all members of a family to use its banking services. In the basic family banking category, customers will have to maintain a minimum quarterly average balance of Rs. 50,000 across any of the accounts linked with a single family. The remaining account holders in the family will not be subject to any minimum savings account requirement. The family can consist of 2-6 members. However, any failure to maintain the minimum balance will attract a penalty of up to Rs. 1,500.
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