Federal Bank Fed Arogya Current Account
Federal Bank is one of the many banks that was established in the pre-independence era. From humble beginnings in 1931, the bank is now one of the country's major commercial private sector banks. Since its establishment, the bank has grown at a noticeable pace and was one of the first banks to incorporate technology into its banking services.
The bank offers its customers a wide range of financial products and services. These products range from ordinary deposits to loans, investments, and insurance policies. Of the many products that the bank offers its customers, the current account is one that is worth mentioning. A current account is a type of account that provides account holders with high liquidity. This type of account is often held by individuals who run businesses and make deposits and withdrawals against their account in large sums.
Federal Bank has a wide range of current accounts that it offers its customers. Each of these accounts has been designed with the intention of serving a specific type of customer. One variant of the current account offered by the bank is the Fed Arogya Current Account. The account comes with a host of benefits and privileges that aid the customer's financial needs.
Features and benefits
The following are the features and benefits of the Fed Arogya Current Account:
- The Fed Arogya Current Account is a zero balance account and does not require the account holder to maintain a stipulated average balance in their account.
- The bank issues customers with free at par cheque leaves every month.
- Account holders receive free monthly email statements for transactions carried out against their account.
- The bank provides its Fed Arogya Current Account holders with an International Visa Business debit card. The Fast Biz Platinum debit card comes with a cash withdrawal limit of Rs.2 lakh and a point of purchase and e-commerce transaction limit of Rs.3 lakh.
- The bank provides account holders with its internet banking and mobile banking services free of charge.
- Account holders receive SMS alerts and email alerts for transactions carried out against their account free of charge.
- The bank issues customers with free Demand Drafts every month.
- Account holders do not incur any service charges for collection of outstation cheques.
- The bank provides customers with its NEFT and RTGS facilities for free.
Eligibility criteria
To be eligible to open a Fed Arogya Current Account, applicants should fall under one of the following categories:
- Hospitals
- Clinics
- Diagnostic centres
- Nursing homes
Federal Bank provides its customers a number of options when it comes to choosing a current account. The Fed Arogya is one such account that caters exclusively to those in the field of healthcare and provides them with a number of benefits and privileges that can best aid their practice.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
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