Product Details
Bank Name
Federal Bank
Account Name
Fed Power Plus Saving Account
Account Type
Saving
Interest Rate
For balance upto 50 Lakhs: 3%.
Free Debit Card
No
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
INR 25,000
Debit Card Charges
VISA Platinum Debit Card. Joining fee: INR 300.. Annual Fee INR 300
NEFT Charges
Free online
IMPS Charges
Free online
Fees and Charges
Fed Power Plus Saving Account
Special Features
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Free 20-cheque leaves per half-year.
3 folios free per quarter.
Free Mobile alerts and E-mail alerts.
Free monthly Demand Draft limit of Rs. 50,000/-.
50% concession on Processing fee/Administration fee for all retail loan products.
Free NEFT / RTGS facility.
Free Internet banking and Mobile banking.
Cons
No premium features.
No zero balance account facility available.
Application Procedure
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
Add a Title
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
Product Review
Account Opening and Procedure
How to open an Account?
You can open a savings account with Federal Bank either online or offline. Here's a breakdown of both methods:
Online Method
Visit the Federal Bank website: Go to the official Federal Bank website and click on the "Open an Account" option.
Select customer category: Choose the appropriate customer category, such as personal banking, NRI banking, or business banking.
Fill in details: Provide your full name, email address, and mobile number in the online form and submit it.
Receive email: You will receive an email with the Account Opening Form (AOF) and a list of required documents.
Submit documents: Print and fill out the form, attach your photograph, and submit it along with the necessary KYC documents at the nearest Federal Bank branch.
Collect welcome kit: Once the KYC verification is complete, you will receive your account opening kit from the bank.
Offline Method
Visit a branch: Visit the nearest Federal Bank branch.
Fill out the form: Obtain and fill out the account opening form.
Submit documents: Submit the form along with self-attested copies of your PAN card and Aadhaar card.
Deposit initial amount: Deposit the required initial amount (if it's not a zero-balance account).
Account confirmation: The bank will open your account and confirm the details via SMS and email.