Happy Family Banking A/c
here is our exclusive family banking accounting scheme
Learn more about our exclusive family banking scheme.
Family Banking is a product in which individual members of a family can group their respective relationships with bank (Savings Account) under a single ID called the 'Family ID'. TMB Happy Family Banking lets family enjoy all the benefits of Privilege Banking. All one has to do is to link his family members' accounts with our TMB Happy Family Banking.
Thereby help entire family enjoy the advantages of our privileged services through Family Banking. One needs to maintain a lower minimum monthly average balance at the family level. Each family member doesn't need to maintain minimum balance individually.
Product Highlights:
- Overview
- Access to superior benefits for the entire family:
- Family Banking makes the superior product benefits of Privilege Banking available to all the members of family while the required minimum balance can be maintained in any one of the accounts.
- Flexibility to maintain balances across account:
- One now has the flexibility of maintaining the required minimum balance in any one (or more) of the accounts that members of his family hold with TMB.
- Single Family Bank:
- All banking needs can now be catered to by a single 'Family' bank.
- List of Benefits:
- Free 50 cheque leaves per year for each family member. For additional cheque book, Rs. 2 per leaf will be charged.
- Free NEFT / RTGS at Branches.
- Free DDs up to Rs. 50,000.00 per day for each account. Above Rs. 50,000.00 charged at Rs. 1.00 per 1,000 on incremental amount (Max Rs. 10,000.00).
- Free ATM cum Debit Cards with nil Annual Maintenance Fee.
- Free Internet Banking.
- Free Cash Remittance in Home and Satellite Branches.
- Free SMS Alert Services.
- Mandatory TMB Happy Family Health Insurance (under Tie-up with UIIC).
- Free Accidental Insurance Cover for Rs. 3 Lakhs to each.
- Mandatory TMB Happy Family Life Insurance Cover (LIC's Group Term Insurance).
- Any benefits already available including insurance coverage over and above this Happy Family Scheme to customers for their existing accounts will continue.
- In respect of TMB Little Super Star, the Scheme Specific Features like restricted Net-banking (Per day transaction Limit Rs. 2,500.00), ATM Withdrawal (Maximum of Rs. 5,000.00 per day), Daily Shopping Limit (Rs. 2,500.00 and Mobile Banking (Per day transaction Limit Rs. 2,500.00) will continue even after joining TMB Happy Family.
- Eligibility
- Minimum 3 accounts of the family Members such as the Lead Member, Spouse, Children, Parents, Grand Children, Son in laws and Daughter in laws and Maximum of 6 accounts.
- Accounts which are eligible to be grouped under the Family ID: Resident / Non Resident Indian TMB Savings Account Holders (Existing or new) with the exception of TMB Simple and Small & Prdahan Mandri Jandhan Yojana, Financial Inclusion, SB Institution and 'HUF' Account Holders.
- These accounts together will constitute the TMB Happy Family concept.
- The Family nominates one person who leads the proposition as the head of the Family and will be called the Lead Member who should be major.
- Only individuals are eligible to open the accounts under this scheme.
- Children aged above 10 Years and upto 18 years forming a part of the Family can open TMB Little Super Star SB account to join in TMB Happy Family.
- Existing accounts can also be part of the TMB Happy Family Concept.
- Family members with NRI status can also be part of the TMB Happy Family.
- TMB Happy Family Members can have accounts at any branch of the Bank. It is not necessary that all the members should be account holders of single branch.
- If the number of members in the TMB Happy Family comes below due to exit of some members, then it will be declassified from TMB Happy Family.
- Minimum Balance
- The minimum Monthly Average Balance requirement for a Family ID is defined at the family level instead of the individual Customer ID level and is called Family Monthly Average Balance (FMAB). The minimum FMAB required to be maintained by the family is as follows:
- Combined Average Monthly Balance (AMB) in all accounts grouped should be Rs. 30,000.00 for Metro, Rs. 20,000.00 for Urban, Rs. 15,000.00 for Semi-Urban and Rs. 10,000.00 for Rural.
- Non-maintenance of the required FMAB in any month attracts a charge of Rs. 100.00 per month in the lead member account. In case of any shortfall, the same may be levied in the other members' SB accounts which have balance.
- Insurance Benefits
- Mandatory TMB Happy Family Health Cover Policy (under Tie-up with UIIC).
- TMB Happy Family Health Insurance Cover (Floater Policy) for the amount Rs. 2 Lakhs per annum for the age up to 75 years with the premium structure as Rs. 890.00 p.a. + Goods & Service Tax (GST) per member in the age group 10 to 60 years and Rs. 1,780.00 p.a. + Goods & Service Tax (GST) per member in the age group over 60 years to 75 years.
- Premium will be automatically deducted by the system on the day of enrollment under the scheme from the respective SB accounts and in case of any short fall, the same shall be deducted from the lead member's SB account. Similarly if any new member is added at a later date, system will deduct full premium automatically for the newly added member.
- Other terms and conditions:
- a) NRI Customer is not eligible for TMB Happy Family Health Insurance Cover and hence he/she is exempted from payment of Health Insurance Premium.
- b) No medical check-up up to age of 60 years. Self Declaration to be given for persons above 60 years of age regarding health conditions, in lieu of medical checkup.
- c) No maternity cover.
- d) Coverage for illness starts after 30 days from the date of policy. For accident hospitalization, the coverage starts from the day one.
- e) Domiciliary Expenses not covered.
- f) Pre-hospitalization 30 days and post hospitalization 60 days are covered.
- g) Room Rent expenses limited to Rs. 4,000.00 per day.
- h) ICU Charges limited to Rs. 8,000.00 per day.
- i) Reimbursement and Cashless facilities are available.
- j) Cataract Expenses limited to Rs. 25,000.00 for a policy year.
- k) For any individual illness, Reimbursement and Cashless facilities are allowed up to Rs. 2 Lakhs (100% of sum assured) for a policy year, but it is subject to Room Rent ICU sub limit and proportionate clause.
- l) All pre-existing diseases will be covered from the 4th year.
- m) Expenses for minor ailments like Histeroctomy & Hiranea are limited to Rs. 50,000.00.
- n) Remote Second Medical Opinion for qualified medical conditions will be arranged at free of cost by UIIC.
- Click the link for List of Network Hospitals where one can avail cashless hospitalization facility: Preferred Provider Network of Hospitals.
- Free Accidental Insurance Cover - Rs. 3 Lakhs to each.
- Mandatory TMB Happy Family Life Insurance
- Mandatory TMB Happy Family Life Insurance Cover (LIC's Group Term Insurance) for Rs. 1 Lakhs per member (aged over 10 years to 65 years but entry is limited to the age up to 64 years) with premium collect on pro-rata basis of Rs. 156.00 + Goods & Service Tax (GST) per member. One year Suicide clause and 45 days lien clause are applicable. Premium will be automatically deducted by the system on the day of enrollment under the scheme from the respective SB accounts and in case of any short fall, the same shall be deducted from the lead member's SB account. Similarly if any new member is added at a later date, system will deduct full premium automatically. NRI Customer is not eligible for TMB Happy Family Life Insurance Cover and hence he / she is exempted from payment of Life Insurance Premium.
- Family Name
- Create a legacy for your family with the bank. Choose a Family Name (Alpha Numeric Letters) and we shall carry it in all your communications with you.
- A/c that can be linked under Family Banking
- Members of a family can group their saving deposit relationships with TMB under a single Family ID.
- Procedure to join the Family Banking relationship
- One 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 recognized as the Primary Customer ID by TMB.
- About designating an account as the Lead member ID
- Any member of the Family ID is eligible to become the Lead Member ID except minor member.
- Procedure for leaving any member of the Family ID from the group at a later date
- Any member of the Family ID can leave the group at a later date by submitting the Family Banking Application Form. However, if a member who holds the Lead Member ID wishes to leave the group, consent from all the remaining members of the family is required on the Family Banking Application Form. If desired the remaining members can continue by nominating another member as lead member by submitting fresh Happy Family Application Form. If not willing, the Family ID will then be dissolved.
- Procedure to add a new member to a Family ID at a later date
- A new member can be added to the Family ID at a later date. The Family Banking Application Form is to be filled-in and signed by the new entrant. Also, consent from all the existing members of the Family ID needs to be obtained.
- Procedure to close the Family ID by Family Members
- Members of a Family ID can use the Family Banking Application Form to close the Family ID relationship with TMB. Consent from all the members of the family is required on the Family Banking Application Form. After closure of Family ID, original product features as applicable for the existing accounts of individual family members would be re-instated automatically.
- Disclaimer Clause
- TMB reserves the right to change / alter / withdraw terms and conditions of the scheme.
Most Important Terms & Conditions governing SB Account Operations:
Download the Application Form:
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