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Product Details
Bank Name

Federal Bank

Account Name

Federal Bank Imperio Salary Account

Account Type

Salary Account

Interest Rate

For balance upto 50 Lakhs: 3%.

Free Debit Card

Imperio Debit card.

Federal Bank Imperio Salary Account
Account Opening Fees

0

Annual Maintenance Fees

0

Minimum Account Balance

Initial funding of Rs 2 Lakhs or more for new customers onboarded to the Bank.

Debit Card Charges

NIL

NEFT Charges

Free online

IMPS Charges

Free online

Fees and Charges

Federal Bank Imperio Salary Account

0
Special Features
  • Users will get Airport lounge access.

  • Users will get free subscription to Wealth Management services.

  • Users will get yearly birthday rewards.

  • Users will get concession on locker rent of 50% subject to a cap of ₹ 1000.

  • Users will get 50% concessions in processing fees for retail loans (Housing / Car loan) subject to a cap of ₹ 5,000.

  • Users will get 50% waiver on the AMC of Demat & PIS accounts held by the Imperio customer.

Eligibility Criteria

Initial funding of Rs 2 Lakhs or more for new customers onboarded to the Bank. Account to be funded within 3 working days from account opening date.

OR

For Resident Salary Customers: Salary credit of Rs. 1 Lakh or more in the SB account.

Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
  • Users will get Airport lounge access.

  • Users will get Debit card offers.

  • A welcome reward of 2000 bonus reward points will be credited to Federal reward balance on the first spend (a minimum spend of ₹ 750 or above) on Federal Bank Imperio Debit card.

  • Users will get accidental death and air accidental cover of Rs 100 lakhs.

  • Users will get payment protection package of up to Rs 2 lakhs.

  • Users will get Term Life Insurance coverage of up to Rs 1.5 lakhs.

  • Users will get daily Hospital cash (Accident & illness) 

  • Users will get concierge services.

  • Users will get free subscription to Wealth Management services.

  • Users will get yearly birthday rewards.

  • Users will get concession on locker rent of 50% subject to a cap of ₹ 1000.

  • Users will get 50% concessions in processing fees for retail loans (Housing / Car loan) subject to a cap of ₹ 5,000.

  • Users will get 50% waiver on the AMC of Demat & PIS accounts held by the Imperio customer.

Cons
  • High average balance requirements.

Federal Bank Imperio Salary Account

The account comes loaded with a number of value add features. However, the account offers low interest rate. It can be considered by individuals who are looking for a good package of value add features.

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

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

  1. Visit the Federal Bank website: Go to the official Federal Bank website and click on the "Open an Account" option.

  2. Select customer category: Choose the appropriate customer category, such as personal banking, NRI banking, or business banking.

  3. Fill in details: Provide your full name, email address, and mobile number in the online form and submit it.

  4. Receive email: You will receive an email with the Account Opening Form (AOF) and a list of required documents.

  5. 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.

  6. Collect welcome kit: Once the KYC verification is complete, you will receive your account opening kit from the bank.

Offline Method

  1. Visit a branch: Visit the nearest Federal Bank branch.

  2. Fill out the form: Obtain and fill out the account opening form.

  3. Submit documents: Submit the form along with self-attested copies of your PAN card and Aadhaar card.

  4. Deposit initial amount: Deposit the required initial amount (if it's not a zero-balance account).

  5. Account confirmation: The bank will open your account and confirm the details via SMS and email.

Application Procedure
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