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Federal Bank offers a wide range of savings accounts as it understands the needs of each customer are different. Smart features offered by Federal Bank savings accounts are internet banking, electronic fund transfers, online payment, etc. which makes banking experience trouble-free and fast for the account holders. Let us discuss in detail about different Federal Bank savings account types.
| Account Balance | Interest Rate (p.a.) |
| Up to and including Rs. 1 Lakh | 2.50% – uniform rate |
| Above Rs. 1 Lakh to less than Rs. 50 crore | 2.50% for balance less than Rs. 5 crore |
| 4.75% for balance of Rs. 5 crore to less than Rs. 50 crore |
|
| Rs. 50 Crore to less than Rs. 150 crore | 2.50% for balance less than Rs. 5 crore |
| 6.05% for balance of Rs. 5 crore to less than Rs. 150 crore |
|
| Rs. 150 crore and above | 2.50% |
Note: Interest rates are updated as of 8th December 2025 and are with effect from 16 August 2025.
Read more: Savings Account Interest Rates
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FedBook Selfie savings account by Federal Bank is a type of savings account that can be opened through the FedMobile app. Individuals who are above 18 years of age can open this account. This savings account is one of its kind which can be opened through the mobile app just by using Aadhaar and PAN card. The account number is generated instantly in this account. Let us know about the features offered by this savings account by Federal Bank.
Bespoke savings account by Federal Bank is not like any other regular savings account. The account offers features like contactless debit card and new-age banking services like mobile and internet banking. Customers can earn up to 5% of interest rate on this savings account by Federal Bank. Let us know more about the features offered by this Federal Bank savings account.
FedFirst savings account is specially curated for kids. This account offers multiple benefits for children and helps them understand how to start saving, spending and managing money from an early age only. Children up to the age of 18 years living in India and NRIs both can apply for this savings account. Let us know about the benefits offered on this savings account by Federal Bank.
Fed Excel savings account by Federal Bank savings account is specially designed for professionals, budding entrepreneurs, etc. There is no minimum balance required to open this savings account, though, initial remittance of Rs. 10,000 is required. Let us discuss about the features offered by this savings account by Federal Bank.
SB Plus savings account by Federal Bank offers dynamic features to the customers. The account has features like free demand draft limit of Rs. 10,000, free Crown Visa debit card. The account also offers free e-mail and mobile alerts. Below-mentioned are the features provided by this type of savings account:
Fed Power + savings account by Federal Bank is a type of savings account that comes with high ATM withdrawal limit and a host of concessions on retail loan products. The customers of this account are offered Visa Platinum debit card. Let us discuss in detail about other features offered by this savings account.
Mahilamitra Plus savings account by Federal Bank is especially designed for women and offers features like two zero balance accounts for kids, complimentary insurance, offers on debit card, etc. Let us discuss in detail more features offered by this savings account.
Yuvamitra savings account by Federal Bank is designed for students. The age limit to open this savings account is 18-25 years. Since this account is focused on the needs of students, there is no minimum balance required to be maintained in this account. Once the account holder attains the age of 25 years, the Yuvamitra account will be converted to Pride/Delite/Club schemes. Upon conversion, the account holder will be bound to follow schemes as per the new account. Let us discuss the features offered by this savings account.
Fed Smart savings account is a smart savings account that offers specialised features like high daily cash withdrawal limits, contactless debit card, internet and mobile banking. Let us know about other features offered by this savings account.
Basic Savings Bank Deposit Account by Federal Bank is a zero-balance savings account. The account doesn’t require you to maintain any minimum balance. It is to be noted that BSBDA accountholders are not eligible to open any other savings account in Federal Bank. If any customer has another existing savings bank account in the bank, he/she will be required to close that account within 30 days from the date of opening a BSBDA account. Let us discuss about the features offered by this savings account.
Shreni savings account by Federal Bank is designed for trusts, associations, clubs, societies, housing cooperative societies, and NGOs. Let us know about the features offered by this savings account.
Club savings account by Federal Bank is a tailor-made account for resident individuals of metro branches. This savings account comes is varied features like free internet and mobile banking, free email alerts, RTGS and NEFT facility, etc. This account is only eligible for metro branches. The average monthly balance required for this savings account is Rs. 5,000. Let us know more feature of this savings account.
Delite savings account by Federal Bank is a savings account especially designed for resident individuals of semi-urban and urban branches. This account comes with Crown (Visa Classic) debit card and IMPS facility. This account also offers free 20 cheque leaves per half-year and mobile alert facility at 50 paise per SMS. Also, it offers 1 free folio per quarter. The average monthly balance required for this savings account is Rs. 3,000
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Pride savings account by Federal Bank is tailored for resident individuals of rural branches. The account holder will have to maintain an average monthly balance of Rs. 2,000 in this savings account. Below-mentioned are the features offered by this savings account:
If applicants want to open a savings account in Federal Bank, they will have to furnish the below-mentioned documents. However, the documents may vary from account to account. For KYC, the applicant needs to present any one of the below-mentioned address and identity proof.
If students are applying for Yuvamitra account, below mentioned documents are also necessary with the above-mentioned documents.
| Category | Fees and Charges |
| Issue of chequebook beyond free limit | SB – Rural – Rs. 2.50 per leaf
SB – Senior Citizens – Rs. 2.50 per leaf SB – Other – Rs. 3.00 per leaf |
| Account closure within 6 months | Rs. 100 |
| Account closure after 6 months and before 12 months | SB – Rural – Rs. 100
SB – Senior Citizens – Rs. 100 SB – Other – Rs. 300 |
| DD cancellation/revalidation/duplicate | Rs. 100 per instrument |
| Issue of duplicate statement | Rs. 100 + Rs. 100 for a page upto a maximum of Rs. 500 per instance |
| Issue of duplicate passbook | Rs. 100 per passbook |
| Transaction at other bank’s ATM | Financial transaction – Rs. 21 per transaction
Non-Financial transaction – Rs. 11 per transaction beyond free limit |
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Below mentioned is the eligibility criteria for opening a savings account in Federal Bank:
| Type of Account | Eligibility Criteria |
| FedBook Selfie Savings Account | Resident individuals who are above 18 years of age |
| Bespoke Savings Account |
|
| FedFirst Savings Account |
|
| Fed Excel Savings Account |
|
| SB Plus Savings Account |
|
| Fed Power + Savings Account |
|
| Mahilamitra Plus Savings Account | Resident women who are above the age of 18 years |
| Yuvamitra Savings Account | Students who are beyond matriculation level (including professional degree/diploma holders) |
| Fed Smart Savings Account |
|
| Shreni Savings Account |
|
If the applicant wants to open online savings account in Federal Bank, the applicant will have to install FedMobile app from Google Play store or Apple App store. Once the application has been installed, follow the below mentioned process.
Step 1: You will be asked to complete the SMS activation using the mobile number registered with your Aadhaar card
Step 2: Click on “Open a savings account”
Step 3: Provide declaration based on the conditions that if you already opened savings account earlier using Aadhaar OTP with any other bank or not
Step 4: Now, enter the Aadhaar number/Aadhaar virtual ID number and then tap on “Agree” button
Step 5: Enter the Aadhaar OTP received on your mobile number
Step 6: Confirm your personal details and displayed address
Step 7: Now, select your base branch
Step 8: Now, upload photo of your PAN Card and enter the details as asked
Step 9: Enter all profile details and choose nomination of your account
Step 10: Your account is now successfully created and the account number will be activated instantly
Step 11: Create MPIN and log into the app
It is to be noted that if you do not receive Aadhaar OTP or the location mentioned in your Aadhaar card is different, you will have to resort to a selfie account opening process with Federal Bank. To open the account online, you should be an Indian citizen who is above 18 years of age and holding an Indian mobile number.
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To open a savings account in Federal Bank offline, the applicant will have to visit the nearest bank’s branch. Below-mentioned steps explain how to open Federal Bank savings account offline.
Step 1: Visit the nearest branch of Federal Bank
Step 2: Fill in the savings account application form at the branch
Step 3: Provide your basic details to the bank official and then choose the type of savings account you want to open
Step 4: Provide your self-attested PAN card and Aadhaar card
Step 5: You will have to deposit some money if it’s not a zero balance savings account. Collate all your documents and submit all your documents with the deposit cash slip or DD with your proof of identity
Step 6: The bank upon verifying your details will open your account
Further, the bank will provide you with the welcome kit and documents to help your operate your account.
Q. I am joint account holder in Federal Bank, can I use FedMobile?
Ans. No, joint account holders cannot use FedMobile.
Q. Is it possible to activate FedMobile using FedNet credentials?
Ans. Yes, you can activate FedMobile using FedNet credentials. You can also use debit card details or visit the bank’s branch.
Q. Can I make foreign remittance through RTGS?
Ans. No, you cannot make foreign remittance through RTGS. It is only applicable within the country.
Q. Is it mandatory to have an account in Federal Bank to avail FeDelight card?
Ans. No. It is not important to have an account in Federal Bank to avail FeDelight card. You can purchase this card even without holding an account with the bank.
Q. How can I get my account statement in Federal Bank?
Ans. To view your account statement for each of your accounts, you can view it in ‘FedBook’. You can also download/email the statement by tapping on ‘view full statement’ and selecting the ‘get statement’ option in the menu.
