Federal Bank
Federal Bank
Federal Bank
Federal Bank India is well recognized for facilitating even the smaller branches consisting of
rural and partially-urbanized areas with technology enabled services.
Previously known as Travancore Federal Bank Limited, the Federal Bank Limited in its entire
span of customer services has seen both ups and downs. The bank started with an auction-chitty
business along with other banking transactions related to agriculture and industry. In the year
1945, the paid-up capital of the bank touched Rs.71000 and a new Board of Directors was
constituted. During this period, the bank also incorporated new Articles of Association. The
same year its branch was opened at Aluva.
Subsequently, Federal Bank came with its branches in Angamally (1946) and Perumbavoor
(1947). However, it came with a massive expansion plan in the years 1975 and 1976 by opening
53 and 42 branches respectively.
From that time onwards till today, the bank has continued to incorporate the effective changes to
ensure smooth banking experience for its customers.
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CRAR 20.22
Net NPA Ratio 0.30
The IFSC code is a unique code which the bank assigns to its various branches. Every branch has
a different code which facilitates in distinguishing it from the other branches. As for instance, the
code for Mankol branch, Ahmedabad is FDRL0002182 whereas the IFSC code for Sanand
branch is FDRL0001846.
Depository Services
Debit Cards
General Insurance Products in association with United India Insurance
Export Credit Insurance Products in association with ECGC
Express Remittance Facility from Abroad - FEDFAST
Cash -On- Line Express Cash Remittance
Life Insurance Products in association with IDBI Fortis
Lock Box Service for US-based NRIs
Cash Management Services
Merchant Banking Services
E-shopping Payment gateway
BSNL Bill Payment
Easy Pay- On-line fee payment system
Online LIC Insurance Payment
Online Kiosks for customers
Online Railway Reservation System
In its attempt to serve customers with the best and to provide them an easy means of banking,
Federal Bank in India has come up with many first of its kind services and products that re-
defined the entire banking scenario of India. These are:
Launched Internet Banking Service via FedNet among all the traditional banks in India
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Made its branches automated
Inter-connected all its branches
Started Electronic Telephone Bill Payment
Introduced e-shopping payment gateway
Offered Mobile Alerts and Mobile Banking service
Devised a way for Express Remittance Facility from Abroad
Provided RTGS facility in all its branches
Housing Loans
Personal Car Loan
Personal Loan
Agri mobile Loan
Kissan Credit cards
Demat Loan
Federal Vidya Loan
Loan against Rent receivable
Instant Relief Loan
Mortgage Loans
Consumer Loan
Federal Bonvoyage Loan
Home Overdraft Scheme
Vanijya Loan
Gold Loans
Warehouse Loan
Equity Subscription or IPO Finance
Jeevan Suraksha Loan for Medical Practitioners
Subha Yatra Loan Fair Practices Code
Federal Easy Cash
Federal Special Vidya Loan
House Plot Purchase
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Financial assistance accounting for around 90% of the vehicle's price is given as the loan
amount. The upper loan ceiling is ` 50 lacs for the individual borrowers.
2. Education Loans
The educational loan scheme by the Federal Bank is also known by the name of Federal Vidya
Loan. It is offered to the students who want to pursue higher studies in India or abroad. Students
of Indian nationality, both residents and non-residents are only eligible for getting this loan.
Financial assistance, up to a maximum of ` 25 lacs is offered to the loan seekers, under this
scheme.
3. Personal Loans
Federal Bank offers personal loans for all personal purposes. Individual residents and non
residents are eligible for getting this financial assistance. A maximum of ` 2 lacs is offered to the
customers as loan amount, under this scheme. It is given for a period of up to 60 months.
The applicants for the home loan in Federal Bank should preferably be below fifty-five years of
age. Non-residents applying for Federal Bank Home Loan must be fifty-five or below that during
the maturity period of the loan. An authenticated proof of income should be produced while
applying for the loan. Federal Bank offers loan up to 85% of the project cost which includes the
expenses included in stamp duty, registration and the like. Other areas such as compound wall,
landscaping, water tank, etc. are also included in the project cost. A maximum of ` 3 crores are
offered as housing loan by the bank. The maximum duration allotted for the repayment of the
loan is twenty years for the residents and fifteen years for the non-residents. The housing
property should be kept as a security against the home loan by the borrower. The interest rate
charged on the home loan varies according to the market conditions.
The already existent home loan borrowers are also entitled to the following home plus loaning
options offered by Federal Bank:
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50% of the housing loan as privilege personal loan subjected to the group with higher
income
Up to ` 25 lacs as education loan (Vidya loan)
Federal Bank SBI- VISA Gold ‘N More- This card offers reward points on all the
purchases made by the consumer that are redeemable at several dining as well as grocery
spends. This card also provides a facility of fuel surcharge waiver and several other
offers.
Federal Bank SBI VISA Platinum- This card offers reward points on the purchases
made by the consumer that can be redeemed at several dining outlets as well as
departmental and global spends. It also offers fuel surcharge waiver facility, free air
ticket, Different special gift vouchers and free access to many airport lounges.
Savings Account
Federal Bank offers a wide range of Savings Account that cater to all the needs of the consumers
related to their savings. The different types of Savings Account schemes are as follows:
Freedom SB
FedBook Selfie
Young Champ
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Fed Excel
SB Plus
Mahilamitra
Yuvamitra
Fed Smart
Basic Savings Bank Deposit Account (BSBDA)
Federal Institutional Savings Account (FISA)
All the above Savings Accounts schemes offered by the Federal Bank earn 4% p.a. interest rate
which is calculated on a daily basis.
Short-term Fixed Deposit Rates- The rate of interest offered by the Federal Bank for
short term holdings ranges from 3% p.a. to the highest of 7% p.a.
Medium and Long-term Fixed Deposit Rates- For medium as well as long-term
holdings, the interest rate ranges from 7.25% to 7.5% p.a.
Senior Citizen Fixed Deposit Rates- For senior citizens, all applicable interest rates are
increased by 0.5% irrespective of tenure.
NRE Savings Account- NRE Savings accounts are of various types. They are:
1. FedSelect
2. FedSelect Plus
3. Fed NRI Power
4. Fed NRI Premium
5. Fed NRI Privilege
6. Fed NRI Eve
7. NR Young Champ
8. Fed NRI Care
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NRO Savings Account- The different schemes under this account are as follows:
Deposits- The various deposit schemes tailor-made for the NRIs under this account are: