Product Details
Bank Name
Federal Bank
Account Name
Federal Bank Stealler Savings Account
Account Type
Savings Account
Interest Rate
For balance upto 50 Lakhs: 3%.
Free Debit Card
NIL
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
Average monthly balance of ₹10,000.
Debit Card Charges
Stellar Debit card, Debit Card Issuance Fee: ₹300, Debit Card AMC: ₹300
NEFT Charges
Free online.
IMPS Charges
Free online.
Fees and Charges
Federal Bank Stealler Savings Account
Special Features
Users will enjoy a one-year complimentary wellness package.
Users will earn reward points when they complete milestones and get accelerated reward points when they spend time using their debit card.
Eligibility Criteria
Retail individuals above the age of 18 are eligible for opening a Stellar savings account.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Users will enjoy a one-year complimentary wellness package.
Users will get personal accident cover/permanent disability cover of ₹10 lacs.
Users will get Hospital Cash (Accident/ Illness) for 10 days for ₹1000 per day.
avUsers will earn reward points when they complete milestones and get accelerated reward points when they spend time using their debit card.
ATM cash withdrawal limit is ₹50,000.
Shopping limit on debit card is ₹3,00,000.
Cons
Low interest rates.
High average monthly balance is required.
Federal Bank Stealler Savings Account Review
The interest offered on the account is quite low. The account comes loaded with a number of health related value add features. Individuals who are looking for health related value add benefits can consider this account.
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
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.