Product Details
Bank Name
Federal Bank
Account Name
Bespoke Savings Account
Account Type
Savings Account
Interest Rate
For balance upto 50 Lakhs: 3%.
Free Debit Card
Visa signature Imperio Debit Card
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
Average monthly balance of Rs 2,00,000.
Debit Card Charges
Issuance free.
NEFT Charges
Free online
IMPS Charges
Free online
Fees and Charges
Bespoke Savings Account
Special Features
Users will get free Mobile Banking.
Users will get free Email Alerts.
Users will get 20 cheque leaves per year.
Eligibility Criteria
Resident Individuals (sole or joint account)
Trusts
Associations
Clubs or Societies
Foreign Nationals residing in India (as permitted by Foreign Exchange Management Act)
Others specifically permitted by RBI
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Users will get a Visa signature Imperio debit card.
Users will get free Internet banking.
Users will get free Mobile banking.
Users will get free Email alerts.
Users will get 20 cheque leaves per year.
Cons
Low interest rates.
Application Procedure
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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.